What you think of getting financially independence? Is it an achievable goal? What we should be doing to be financially independent? What personal finance changes we need to make?
When we are doing the same thing everyday, how can we get a different result? I don't know: but I expect to attain financial independence by working the same job as usual. But, when I looked closely,I can see some habits are not really good for my personal finance.
It was like this: get up , get ready, go to work, get paid, buy stuff. Yes, I bought a lot of stuff, some times on sale, other times just to show others or to satisfy myself.
Before getting mindful about money, my habit was like this: I usually get paid once a month. I get the cheque and place it on the dressing table. Do you know, I was too busy to go to the bank and deposit. Or may be I am lazy on that particular day and just procrastinate to deposit.
Now a days, I changed a bit. I make the time to deposit the money ASAP upon receiving it. With that change, I called the bank and cancelled the over draft protection. It saves me $4 a month, ie. $48 an year. Awesome savings!!!
Another changed habit is to put auto reminders on the phone to pay the bills in time. That will prevent paying late fees and interests.
Checking the balance in the bank account to make sure there is enough money for the monthly auto payments is another new habit. Good for my personal balance sheet, right?
Another new habit is to Pay Myself First.
That also means, my RRSP and the TFSA have some money to invest for the future me.That way my passive income can grow too.