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10 Habits All Financially Independent People Have in Common 

Ever wonder how some people can live their lives with zero financial problems and no need for things like a title loan? Perhaps they just have high paying jobs or they’re trust fund babies? Though these factors may play a role in some people’s financial stability, it’s not how 99% of people become wealthy. In fact, some of the richest people in the world still struggle with money. When it comes to money, it’s not about how much you have. It’s what you do with that you have that counts. Here are 10 habits that the majority of financially independent people have in common.

They Focus on the Details 

People who are financially independent look closely at their bank statements. They notice every detail down to the last penny. By paying closer attention to your account transactions, you can become more aware of what’s going in and out of your checking account. You can easily avoid things like late fees and overdraft charges by simply keeping a closer eye on your accounts. 

They Do Their Homework

People who are debt free have done their research. They understand how their finances system works and they never sign anything without reading it over first. By staying in the know, you can avoid things like hidden fees and missed tax deductions. Learn about everything that affects your finances, including your credit card terms and your income taxes. Though it may feel a bit overwhelming, it’s worth educating yourself about your financial standing and how everything around it works. 

They Live Like They Make less

Debt free people live a lifestyle well below their means. It may seem trivial, but it’s actually a very smart decision. Imagine you make 10% or even 25% less than you actually make. Could you live off that? You may have to make some changes, but chances are, you can do it. Living well within your means is an essential part of building a brighter financial future. 

They Have a Long-Term Mindset

People who are financially independent never go for instant gratification. They look ahead and make their decisions based on how it will affect their future. Do you need to have the hottest new gadget or a flashy car, or are these things you can afford to live without? The answer will invariably be yes.

They’re Not Afraid to Ask for Help

They never shy away from asking for help. They ask for lower interest rates, they ask for forgiveness on a late payment and they even ask for a lower price when shopping. The worst they can say is no, so don’t be afraid to ask for a better deal for yourself.

They Save

No matter what, they’re always saving. From the bonus check from work to the birthday cash from grandma, they save it all. Financially stable people understand how important it is to save. Though it’s tempting to spend the extra cash, it’s always better to just stash it away for a rainy day. 

They Have Goals

Speaking of saving, it’s easier to save money when you have a goal in mind. The financially independent always have a plan, so if you haven’t done it already, set a reachable goal to improve your financial status. Whether it’s saving a certain amount of money or paying off a credit card, set the goal and start working toward it today.

They Know When to Say No

Never hesitate to say no. You may get invited out by friends to lunch or you might be tempted to buy something that’s on sale, but saying no is the key to spending less and saving more.

They Understand the Value of a Dollar

Instead of using a card, use cash instead. You’ll have a much better understanding of a dollar’s value when you can actually see it in your wallet and hold it in your hand. Once you spend it, it’s gone. This reality can help change the way you think about your money and how easily you are willing to part with it.

They Value Experiences More Than Stuff

Successful people value people and the experiences they share far more than material possessions. They keep their money in their wallets and spend time with friends and family. It doesn’t cost a thing to pay a visit to an old friend or to go to your grandparent’s house for dinner. Find happiness in the time spent with people, not in the stuff you buy. 

Ready to become debt-free and find your financial independence? Study these habits from those who are already living the dream and make them your own. In time, you’ll begin to see changes in your life that will result in more financial freedom and a much happier you.