For a pretty perfect definition of financial independence, read this quote from Nightingale.com:
“… financial independence means the ability to manage your money in such a way that you have sufficient funds to live your chosen lifestyle without assistance from others.”
Everyone’s dream, right?
So let’s really talk about how to gain financial independence—just how do we go about making it a reality?
Create New Money-Saving Habits
In their article, “7 Habits to Help You Reach Financial Independence,” the US News Money Blog breaks down how to gain financial independence; namely, the ways to get your money working for you—and only you.
Some of these may seem obvious, but they’re worth repeating:
- Avoid consumer debt
- Live modestly
- Spend less than you earn
- Funnel money from your paycheck into a 401(k)
- Continually invest
- Buy income-generating assets
- Know your limits
In other words, put yourself in a position where you continually reduce your dependence on outside work and people. It’s as much about saving money as making money.
But there’s another way to achieve financial independence—where you can live your chosen lifestyle without working full-time.
How to Gain Financial Independence: Start Your Own Business
Would you like to work for yourself? It’s a great way to become financially independent, for the very simple reason that you’re more likely to be able to pick your own hours.
Other advantages to starting your own business include the ability to choose:
- Where you work
- Who you work with
- What line of work you do
In other words, you get to decide how to spend your time.
Choosing the Right Business
First, you’ll need to decide what matters most. If independence is the most important factor in owning your own company, then you’ll want to start a business that allows for maximum freedom.
For some people, just owning their business is enough to satisfy a certain measure of financial independence. For them, that may mean franchising a company or starting a local small business.
Others, however, may prefer more freedom.
How to Gain Financial Independence: The ECS Business Model License
The ECS Business Model is a proven set of utility bill auditing and client management strategies for starting your own auditing company.
Essentially, our system allows you to audit any kind of utility bill, including:
- … and more!
That means that any of the millions of companies using utilities in the United States are potential clients. You can use our business model license as much or as little as you want, and we don’t charge any royalty fees.
Watch this exclusive video to learn more about your earning potential with the ECS Business Model.
*ECS reserves the right to restrict southern Florida as its home base of operations.