Financial independence is something that is coveted by most people. One of the signs that a person has achieved financial independence is having a salary that allows him or her to do more than just “making ends meet”. Here are 5 other signs of financial independence, and tips on how to attain it:
Owning a home
After clothes and food, shelter is the most important necessity for all human beings. Owning a house is the next natural step towards financial independence, and requires a huge financial commitment. It also shows that you have a sufficient and steady income, savings and the ability to manage your finances in the long run.
Planning your children's education
A healthy financial state allows you to set aside funds for your child's education. The sooner you plan, the more time you have to save, options to explore, and the brighter your child's future will be.
Able to pay bills and instalments on time
Your ability to pay bills and instalment on time on time without disrupting your personal cash flow is a sign that you're on the right track toward financial freedom.
Starting to invest
You are starting to set aside some of your income for investment, either via saving or any other financial investment instruments. This shows that you can manage your own wealth in a good way without any indication of expense is bigger than income.
Starting a business
Another indication of financial independence is the ability to start a business. On top of gathering the necessary capital to start, you also have to manage and maintain sufficient working capital in order to sustain your business until the business can sustain itself.
Making the first step towards financial independence is not as difficult as you might imagine it to be. Start saving from Rp 3.5 million/month with 3 HSBC Advance Plans - Home Ownership Plan, Children Education Plan and Business Start Up Plan - and enjoy benefits to help you achieve your financial independence. Apply now.
