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

---

Plan For Wealth

One very important wealth creating habit is to set up... Read More

Building Wealth: Its An Inside Job ? Part 2

Let's quickly review the principles discussed in the first part... Read More

16 Mantras for Building Financial Wealth

Everyone wants to be wealthy, but most of us do... Read More

Budget Tips

To budget, to have a budget and to be on... Read More

How to Save Money and Take the Vacation You Always Wanted

Many people don't realize how much money they spend on... Read More

Residual Income - Part Three Finding Leaders

In my last article on Creating Residual Income I mentioned... Read More

How I made $122,000 and lost $132,000 - A lesson in Assets vs Liabilities

This is a true story from my own experience that... Read More

10 Ways to Save $50 Per Month: The Art of Pinching a Penny Until It Screams

1. Save up to 50% per month on convenience cleaner... Read More

3 Steps To Increasing Your Income

Most accountants, financial planners and wealth-building experts agree that there... Read More

Cutting Costs Can Significantly Increase Your Income

As a work at home Mother, I know the value... Read More

Net Worth Nympho

There are plenty of people who are in love with... Read More

Wealth And Your Net Worth

Most people know it's important to keep and organize all... Read More

Dont Leave Your Financial Success To Chance

Recently I was reading a book called The Millionaire Mind.... Read More

WARNING: The Biggest Lie About Compound Interest

Have you wondered why financial experts only tell you certain... Read More

You Can`t Cheat An Honest Man

Author: James Walsh ISBN: 1563431696: Publisher: Silver Lake PublishingIn... Read More

Trustee Fees: How Much is Enough and How Much is Too Much?

I am often amused by the ads and offers I... Read More

Use Feng Shui Coins To Increase Your Income

Feng shui coins can allow you, among other things, to... Read More

How to Make More Money

When I was a student in London, I had a... Read More

A Completely New Way To Get Rich Rapidly

This new way is catching on around the world. People... Read More

3 Simple Ways to Generate Cash Flow

This article focuses on generating cash as a full time... Read More

Four Pillars of Creating Wealth

Some people in this world are thinking that their poor... Read More

Your Money Or Your Life

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

The Top 10 Steps to Extraordinary Personal Wealth

I recently came across startling figures about the average American's... Read More

The Wealthy Mindset

What is the difference between wealthy people and poor (even... Read More

Is Your Money Keeping Up With Inflation?

In today's unpredictable global economy, you obviously never know what... Read More

How Should I Create Passive Income?

If you're wondering where to create passive income, then you... Read More

Early Retirement The Dream of the Working Classes

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

Virtual Millionaire Strategy Exposed

Let's begin this lesson with a definition of the term... 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

The Philosophers Stone

"If you know how to spend less than you get,... Read More

Financial Intelligence - Natural Marketing For Lone Rangers

"Ooooooh," you may say, "I could NEVER be good at... Read More

Building Wealth: Its An Inside Job ? Part 1

Whenever we read about building wealth or even attend a... Read More

Increase Your Business with a New Old Method: Vaastu Shastra

Whether an established conglomerate or a fledgling company, a business... Read More