For most of us, financial independence is no easy feat. It takes a great deal of hard work. And financial writer Trent Hamm points out that developing a few life skills are necessary for reaching this goal.
Money photo by Shutterstock Financial independence, Hamm explains, is being able to pursue whatever path you choose in life without dealing with financial worries. This independence allows you to make choices based on your personal satisfaction, not how much those choices pay.
In trying to reach this goal, Hamm realised there are a handful of characteristics that help make it happen. He calls it a "Swiss Army knife of life skills". Here are a few examples:
A willingness to learn: If I'm not willing to acquire new skills, the day I quit working at this job is the day I have a hard time finding meaningful work elsewhere that's above an entry-level position. That's not what I want to do, so I need to be willing to learn.
A willingness to do things myself: This spreads all throughout life, from preparing my own meals from scratch to fixing plumbing problems in my house. The more things I'm willing and able to do myself without calling for help, the more self-sufficient I am, the less money I need to spend, and the less likely I am to face emergencies which can undo financial balance.
These are just a couple of examples Hamm offers. Check out his article in full for more detail.
The Tools for Declaring Independence [The Simple Dollar]