February 17, 2020

Success Mantra for Financial Independence

This post is going to reveal the golden formula on how to achieve 100% success on your path to financial independence.

You would come across numerous Personal Finance posts on internet - all ultimately helping / directing you to one of this steps. So let's just jump in and start our journey...

Success Mantra

Step 1 - Save.. Save.. Save... stop looking out for personal finance essays and posts. First make the target of achieving x% of your income as saving. Now this x% can be significantly different for each, depending on whether you are married or not, you have dependent parents or not and so on. So ignore the noise and start working to improve your % with each passing day.

Step 2 - Avoid debt. No point in looking at investment ideas, till you are servicing a debt. Pay off your debt first with the savings.

Step 3 - Enjoy power of compounding. Start investing your savings gradually and constantly. Do not break for short term needs. Let money grow over period of time and you will soon see the power of compounding returns.

Key goal to any personal finance management is keeping things simple.

Share me your approach and thoughts...

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