Financial independence comes from respecting and appreciating money by taking care of it. How do you take care of money? There are four rules that you should follow:
Spending less means never buying something that you can’t afford. The big secret to achieving higher earnings is to stop creating debt.
Saving more means paying yourself first. Consistently put money in your bank account until you have enough to cover emergencies and any unexpected loss of income.
Put money in assets that will grow faster than inflation and taxes can take away. The biggest risk for women is that they will outlive their money. A portion of money earned needs to grow faster than inflation.
Give Generously to Causes You Truly Believe In
Give thought about where you want to make a difference and create a plan.
The goal for you is to have choices, to have freedom to live life on your terms, and to create a fulfilling outcome from your financial decisions.
Source: Barbara Stanny, Secrets of Successful High Earners