Financial Independence can mean different things to different people. But in general, having adequate money to fulfill your goals and desires is the closest equivalent of being financially independent. It is also having enough money in times of emergencies. In short, it is being able to handle all the financial needs without any hassle.
Not everyone is financially independent. Most of us dependent on other people or other factors in some or the other way for our financial needs. It is important for everyone to manage all their financial needs with a certain level of independence. With that said, investing is one of the best ways to achieve financial independence. Investing not only helps us reduce our expenditures but also builds our wealth.
It is possible for everyone to start investing. You don’t have to accumulate a large sum of money to start investing. You can start with Rs.500 monthly SIP in mutual funds and can begin your journey towards financial independence.
We all have goals but very few works towards achieving the goals. Some of us lack the resources in achieving the goal. Financial constraints are the most common hindrance in achieving our goals.
Now the question is how to become financially settled.
The best possible way is to save a part of your income, and let the part of your saved money work for you. This is possible by investing, you can invest in mutual funds or fixed deposits, NPS, or any other investment tool that seems fit for you. Investing a part of your income not only helps you achieve your goals but also lets you keep a check on your spending habits. Spending a lot of money on materialistic things with zero real usage can drain your income
Moreover, investing early can help you make your life secure. It’s never too early to start investing, the sooner you start your investment journey the sooner you will accumulate wealth to fulfill your personal and professional goals. Happy investing!!