7 Power Habits that Build Financial Independence

Financial independence is having the freedom to support yourself through your own efforts. Here are seven fundamental habits that will help you achieve and maintain financial independence.

1. Express Gratitude

Financial independence begins with gratitude. Set aside a daily period to offer a sincere thank you for every blessing in your life. Include people, places, possessions, talents, and memories. Offer gratitude for your future dreams as though they were already in your possession.

Gratitude will allow you to attract the blessings you want. When they arrive, protect them from the thieves that could rob you of your financial independence.

2. Liberate Your Future

Debts of the past are thieves of the future. If you want financial independence, live a simple life style that does not create unnecessary personal debt. Living with class does not require being extravagant. If you are conservative most of the time, you can be extravagant at the right times.

Do not allow credit card companies to hold your future hostage. Take control. Seek professional help to get rid of credit card debt that robs you of high monthly interest payments. Borrowing is a tool that should produce a return on your investment, not cost your future security.

3. Commit to Wellness

Your health is also an asset that you need to protect. Wellness allows you to manage and enjoy financial independence. Get regular physical checkups and maintain a sensible physician-approved exercise program. These can help to minimize illnesses and maximize the rewards of a productive life.

Maintaining wellness requires an ongoing commitment. Another area of commitment that is equally important to financial independence is one of personal financial discipline.

4. Develop a Saving Discipline

A financially independent future requires saving, and saving requires discipline. As credit card debt diminishes, savings can begin to increase. An emergency savings fund of six to twelve months living expenses is a wise idea. However, you will want major long-term savings plans for such goals as education and retirement.

Do not expect the government to take care of your financial future. If you want to remain financially independent, take ultimate responsibility for every chapter of your financial life. That responsibility begins with wise investing and respect for money.

5. Invest Wisely and Respect Money

My father taught me to have several investments that produce an ongoing, passive income. This, he said, would allow me to remain independent if I were to become physically disabled. These investments are like "feeding geese that lay golden eggs". Passive income streams also provide additional capital to place in other financial growth investments.

Respect for money is the beginning of saving and investing. Respect for a dollar begins with respect for a penny. You will always have dollars if you take care of your pennies. Even the smallest of assets and investments need protection.

6. Protect Yourself and Your Loved Ones

In the article, Ten Traits of Successful Entrepreneurs, I wrote that one of those traits was making a commitment to protect the welfare of your family and loved ones. Ensuring the safety of your financial assets is part of doing this.

Adequate insurance coverage for your life, health, and property is a wise investment. You should also use professional legal, financial, and security services to help protect your business, property, and all the things you have worked to acquire.

7. Design Your Financial Independence with Qualified Help

Seek qualified professionals to help you design your financial future. You do not need to be a financial expert to become financially independent, but you must become financially literate. Seek professional guidance from experts in financial planning, taxes, and accounting. These people can work with you to help you realize your financial goals.

Begin today by seeking out professionals that can help you achieve your financial goals. Become financially independent in your own mind. Express gratitude for the blessings you will receive as if they were already in your possession. Avoid and eliminate unnecessary personal debt, and live a healthy lifestyle. Save with discipline, invest wisely, and respect your financial assets. Protect the assets you have worked to acquire, and you can enjoy the financially independent lifestyle that you have envisioned.

© Copyright 2005 by Steve Brunkhorst. Steve is a professional life success coach, motivational author, and the editor of Achieve! 60-Second Nuggets of Inspiration, a popular mini-zine bringing great stories, motivational nuggets, and inspiring thoughts to help you achieve more in your career and personal life. Get the next issue by visiting http://www.AchieveEzine.com

---

Financial Planning for Beginners

Financial planning at an early age may seem complicated, however... Read More

You Deserve To Retire Early

The fact is that most people continue to work for... Read More

Five Straight Steps to Opening an Offshore Bank Account

Despite what you may have read or heard, anyone is... Read More

Your Money Or Your Life

Have you stopped to realize that although you go... Read More

Generate Savings with Smart Use of Electricity!

No matter what income level you are currently at, generating... Read More

7 Wonders of the Offshore World

Many people assume that the offshore world is accessible only... Read More

How To Get Paid Instantly Via Stormpay? Try Online Rewards Programs

E-currency is very popular on the Internet today. People use... Read More

5 Easy Ways to Save and Build Wealth

1. Pay off high-cost debt. The best investment most borrowers... Read More

The Secret Barrier To Wealth - Underearning

Is the ghost of "Money Past" haunting you? Do you... Read More

Starting With Smaller Goals First And Work Your Way Up Until You Achieve Financial Freedom

While you need to have a lot of positive-thought and... Read More

Build Wealth - Formula To Success

A mole travels one road, according to the way nature... Read More

Business Ownership, Cash in Your Pocket - Today!

Yesterday we learned that 74% of all wealth is created... Read More

Wealth Management, Wealth Protection, and Tax Planning

U.S. Supreme Justice Louis D. Brandeis"I live in Alexandria Virginia.... Read More

Wealth Creation - Opportunity

When young men ask me how to succeed, I tell... Read More

Don?t Work for Your Money, Make it Work for You!

Well, the New Year is around the corner and so... Read More

7 Power Habits that Build Financial Independence

Financial independence is having the freedom to support yourself through... Read More

Early Retirement The Dream of the Working Classes

Everyone dreams of early retirement. The idea of no longer... Read More

Build Wealth From Home

As you sit in traffic, inching along between irate drivers,... Read More

How to Have MORE Fun With YOUR Tax Refund in 2005

I counsel a LOT of people about money. I see... Read More

Ben Franklin Didnt Quite Get it Right

When Ben Franklin said "a penny saved is a penny... Read More

Residual Income - The Myth

"Join our program and retire in 3 months..." yeah, right.We... Read More

My Entrepreneurial Fire-I Grabbed My First Million Before I Got Too Old

My First Million took me exactly 27 months to achieve.... Read More

Does Money Grow On Trees?

"Money Doesn't Grow On Trees."Some of us even believe it.... Read More

Easy Ways to Save $1,000

Vacation season is upon us and it can be tempting... Read More

Saving Money By Spending Wisely

Why is it that the older and richer people become,... Read More

Start A Cashflow Club

The cashflow board games, Cashflow 101, Cashflow 202, and Cashflow... Read More

Rich or Poor - Get the Knowledge

Most people work hard all their lives only to "retire"... Read More

I Dont Need A Financial Coach To Help Me!

You've been thinking that your financial life could probably be... Read More

Wealth Building Strategy

There are many of us who are working on our... Read More

Getting An Offshore Bank Account Via The Internet

There is no need to use the many middleman websites... Read More

Wealth - 10 Basic Steps to Achieving It

Everyone wants to be wealthy. Only a few actually achieve... Read More

Warren Buffet: Wisdom from the Worlds Richest Investor

In light of the dominant mindset overshadowing the market these... Read More

Tax Help - Girls (and Guys) Just Want to Have Fun by Using Tax Saving Tips

In his best selling book, "Rich Dad, Poor Dad, Robert... Read More