In my previous article, I discussed types of freedoms that exist in our life. Of course, I did not mention all of them. This procedure could request a lot of time counted in several days. Nevertheless, I did my best in order to mention the most important kinds of freedom. One of these types was financial freedom. I explained financial freedom very briefly. Therefore, I think some of you might have some doubts and questions about a person whom we can confidently call a financially independent personality. In this, post, I will give you two main qualities of a financially independent individual. Hope my narration won’t be too long. The best words are those that are very short and meaningful. For this reason, I always strive to make my blog posts as short as probable.
1) A FINANCIALLY INDEPENDENT PERSON DOES NOT FINANCIALLY DEPENDENT ON ANYBODY
This is the first sign of a financially independent person. If a person has no individual financial assets and profit, he cannot be called a financially independent personality. People, who financially rely on their husbands and wives, parents and relatives, friends and neighbors, cannot be classified as financially independent. As long as these people provide them with financial goods, they can survive. As soon as this type of financial sponsorship or friendship ends, a person will not be able to independently maintain his life and needs.
In some regions of the world such as Asia and Latin America, women are mostly dependent on their husbands and boyfriends. This situation is widely spread in all Asian regions. Whether it is the Central Asia, the Middle Asia, the South Asia, the Southeast Asia, or other Asian region, women are always needy in men. Since a woman cannot earn any money, the only way for her to survive is to find a man who is capable of maintaining her life. In the USA and the EU, women are more financially independent due to good career opportunities in those regions.
A financially independent person does not depend on anybody. He does not ask money from his parents, family, relatives, brothers and sisters, neighbors and friends. A financially independent man or a woman has enough money in order not to be dependent on someone. This is the first and the most important quality of a financially independent individual.
2) A FINANCIALLY INDEPENDENT PERSON IS NOT DEPENDENT ON MONEY
A financially independent person does not rely on a regular job, a salary, and other regular payouts. Thus, I can self-assuredly say that a financially independent person is not dependent on a regular job. What will happen if a person is fired from his working place? What will happen to him in this situation? This man is dependent on money, and therefore, from day-to-day he goes to his office and performs particular types of professional activities. If he gives up doing it, he will lose his salary. Consequently, he won’t be able to maintain his life. This man is dependent on a regular job. Thus, his destiny is always decided and predetermined by somebody’s mercy and caprices. Living on a monthly salary means being dependent on a particular job. As soon as you lose your job, you will lose your salary. In this situation, a person has no other options. He has to work. Even if he dislikes the work he has, he is put in a situation where he has no additional options to choose from.
Usually, a financially independent person has some sources of passive income. Therefore, he does not rely on a regular monthly salary. A financially independent person always has more money that he is able to spend. Hence, he always has some money for unpredictable occasions. We can call billionaires financially independent people. They have so many financial assets that they do not even need to worry about the amounts of money they spend. They are truly independent in the financial sphere.
These are two main signs of a financially independent person. It is not easy to become a financially independent personality. Nevertheless, if you manage to do it, you will definitely enjoy the benefits and advantages of being financially independent.