Financial independence typically means having enough income to pay your living expenses for the rest of your life without having to work full time. Some people achieve this through saving and investing over many years, while others build successful businesses that can generate income without daily supervision. There are many ways to reach financial independence, and it’s not just for the wealthy. Here are some wealth generating habits that can make financial independence a part of your future: Avoid consumer debt. Consumer debt is the bane of financial independence. If you use credit cards to buy consumable goods and carry a balance, then you are enriching the banks and not yourself. Credit cards, payday loans and car loans are all examples of money-generating machines for creditors. The first step toward financial independence is to get rid of high interest debts and free your money to work for you instead of the banks. ...
