Developing a life of financial independence is not usually something very convenient but in order to matter in the society, we have to develop our finances to grow from a very low level to a high one. Moving through a financial growth means we have been able to move from a point of financial dependency to the level of financial abundance.
Various Stages of Financial Attainment.
Financial Dependency.
The first level of finance we have is one that is highly dependent on either parents or guardian for survival. Children are found within this category, they usually are not able to work so they have to depend on their parents for food, clothing and everything required for life.
Financial Security.
The level of financial security is one that you are able to provide for your basic needs, such as purchasing your own food, water and very important necessities, at this level you may not be able to get the luxurious things you need but you are always able to get the basic necessity of life.
Financial Solvency.
This is the point when we begin to make most of our financial decisions on our own, it is at that point that we are the ones who will have to pay our house rent and other utility bills without necessarily receiving assistant from any angle.
Financial Stability and Debt Free.
Passing through the level of financial solvency is usually difficult and during this point so much debt is acquired, but as more knowledge is gained towards achieving financial freedom and we begin to stay away from debts, then we are gradually moving towards the stage of financial stability.
Freedom from Employer.
This is a level of financial freedom when an individual is able to conveniently stay away from a job for some time because he or she has been able to save enough money to sustain him until another job comes around. Sometimes this may be to get out of a very stressful job to a better one or even start some personal business.
Financial Independence.
At this point, you are able to afford what you want, some people work very hard saving highly on a monthly basis in order to get to a point of financial independence, at this point you can possibly afford anything you want.
Financial Abundance.
The level of financial abundance is when you are more financially stable than you need, at this point you can possibly get anything you want for yourself and people around you because you have more than you need.
How to Grow Your Finances.
Moving from a stage of finance to another does not happen in an instant because it is a deliberate effort, it is necessary to learn the habit of savings and appropriate investment in order to grow your financial status.
I have seen adults who deliberately like to beg and depend on others even till their old age, this is not a way to build finance and spending all the money you get is not a way to build wealth either.
Thanks for reading, I am@oluwatobiloba.