Financial independence may sound boring on the face of it, but trust me, it’s anything but. It may be something you’ve heard mentioned and just never looked into as you didn’t think it applied to you. You may never have even heard of it. Either way, there are many reasons why everyone should be learning why it’s important, to help lay the foundation for how they can achieve it. Here, I share 5 of the top reasons why you need to wake up, shake up, and embrace your financial independence once and for all.
Ever heard of the saying “time is money’? Well, I like to flip it and see it as “money is time”. Having financial independence means you’re able to use your money to determine exactly how you spend your time. Most things in life cost money, and so whether it be having the flexibility to leave a job you hate, or going on a weekend away with your friends, it allows you to be in control.
This might sound frivolous but self-care is a critical part of life, it’s not a luxury. Humans are not robots, and we all need time to decompress, relax, and enjoy the things we love. Let’s face it, we all only live once, and so it can be something as simple as treating yourself to a morning coffee from your local cafe, to indulging in a luxury yoga retreat for a full detox. Whatever it is, having financial independence allows you to treat yourself just because you want to without feeling guilty, and nothing more.
I would be remiss if I didn’t mention the darker side of financial independence, that unfortunately sees people using it against others. When you’re not financially independent, you are ultimately relying on other people, and sometimes those people don’t have your best interests at heart. One extreme, but sadly common, example is domestic abuse. It’s an incredibly complex issue, and not one that is simply solved by having money, but helps highlight how having your own funds can make dealing with these types of difficult situations easier and more accessible.
Financial independence means you can put your money where your mouth is. It helps you put your ideas into action. It allows you to put money towards the causes you care about. It allows you to follow through on activities that you want to engage in, whether it be donating to a charity that’s important to you, or taking the plunge to start a new side or main hustle for something you’re passionate about, because you can. At the end of the day, it allows you to effect positive change.
Ultimately, financial independence gives you freedom. Freedom to do whatever you want in your life. Take some time to think about what that means for you, and you are one step closer to making it happen. What that is different for everyone, but don’t underestimate the power that financial freedom and independence brings. It can change your life.
Rebekah Lloyd is a speaker, women's health advocate, and Founder of This Independent Life. Her mission is to help all women and girls achieve personal independence and freedom of choice in life, regardless of their background. She partners with thought leading organisations, such as the University of Cambridge,General Assembly, UN Women, and STEMettes, to host and deliver impactful talks and workshops, as well as other educational activities, across all things personal health, careers, and finances. She also leads the support group “Endo, so what?” to provide a safe community space for honest, real talk about the condition, and is passionate about compassionate leadership, authentic networking, and mentoring.
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