Financial Independence - What Is It?

You may have heard the saving stage been described as the accumulation phase. Financial independence means at that point, if you decided to turn off the earning income tab, you'll never run out of money. The starter needs to get the sort of basics right - they need to get their house in order. You also need to split your bank account between fixed expenses and a separate current account only concerned with spending. One of the greatest wealth tricks is paying yourself first and automating your savings.

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