8 habits for gaining financial independence

1. Develop a budget

This boring activity is necessary to stick to basic goals. A financial plan helps you prioritize and avoid impulsive spending. In addition, it reduces the degree of anxiety: if money is spent haphazardly, there is always a chance to be stranded a week before the paycheck.

2. Be able to accept and calculate risks

Investing in any dubious get-rich-quick scheme, as well as being afraid to invest, is a mistake. You need to invest money. But before that, you need to find out which opportunities meet your financial goals, and calculate the likely risks.

3. Avoid unhealthy competition

Comparing yourself to others is a dubious choice. If a person buys a newfangled car or a huge apartment just to emphasize superiority over others, he is simply wasting money and energy. It also removes itself from the realization of truly meaningful goals.

It is important to create your own vision of success and move towards it in your own way.

4. Separate your personality from money

Financial independence is also independence from finances. So the amount of salary or savings should not affect self-esteem. That is:

Human dignity should not suffer even with modest wealth.
He shouldn't want to brag about incomes, even if they are really high.

5. Don't get hung up on things

Financially free people care about their belongings, but they do not create a cult out of them. If necessary, they are able to give up excesses. Therefore, there are many other pleasant moments in their life, and not just banal hoarding.

6. Base your financial strategy on your values

Time and money should be spent on what is important. If a person wants to break out of poverty, he can work overtime. If a person wants to spend more time with his family, he should abandon additional projects. Thus, everyone builds relationships with finances (and with finances) based on personal priorities.

7. Be able to resist momentary desires

Quite often people justify their impulsive purchases with a phrase like: "I deserve to be happy." A person striving for financial independence is far from such thoughts and actions. He will not spend money on a new smartphone model or a spontaneous trip if he cannot afford it at the moment. He is self-disciplined and knows that some purchases are best done later or not at all.

8. Have a purpose

This is a cross-cutting thought of many of the previous points. Money is a means to an end. Not the other way around. It is the person's goal that should determine all his financial decisions.