10 Strategies You can Use to Reduce Financial Dependence


One of the things that people don’t understand is that having a job and being able to pay your bills and get through life without worrying about money is not necessarily considered financial independence. For example, if you’re a multimillionaire that has plenty of money in the bank and not very many expenses, you’re probably financially independent. But if you are a person who works hard, has a good job and still needs that income every month to pay your monthly expenses, you are financially dependent. You are dependent on your job to fund your life, and that’s not what you want. Of course, we say that lightly as if you can just up and change this little piece of your life with the snap of a finger, but it’s not that easy. Most of us rely on our jobs to provide us with the income we need to live our lives, and I really do mean absolutely most of us. So how do you become financially independent and no longer find yourself in need of a job to pay for your life? Well, the answer is a bit gray; there is no black or white here. You could win the lottery, or you could save so much money that you could retire. It’s all very shades of gray in a very not shades of gray manner – if you get our drift. If you’re looking to leave financial dependence behind (and who isn’t?) let us help you do just that with this awesome advice.


If you want to be financially independent, you need to save your money. You need to take what you don’t spend and put it away. You also need to stop spending what you don’t need to spend and put that money away. It’s not that hard to become financially independent, which is why it’s always so funny that so many people can’t seem to get this particular point across their own lives.


You just cannot get through life if you are not investing your money. You have to do it. There is no question as to the fact that investments are things that you have to make so that your money will grow and you will be able to live a life that’s more financially free.


Always have a plan. Have a plan for your plans and a backup plan for your backup plans and be a planner. You should plan ahead by investing, by saving and by always knowing that what the future holds can be a little bit on the scary side. So plan and you will be much better at financial independence.

Live Below Your Means

This is a concept so easy that it’s not even funny, but it’s one so foreign to most people that they cannot even deal with it. You have to live below your means. It’s not that difficult. Spend less than you make, save more than you need, and stop buying things you cannot afford, you don’t need and that don’t make your life richer.

Get a Better Job

There you go; that’s easy. I know it sounds easy, but if you can get a better job, you can save more. If you can save more, you can invest more. If you can save and invest more, you can grow your financial independence so much that you might actually become financially independent, and that is what you want, is it not?

Fix Your Resume

You have to make sure your resume is always up-to-date and as amazing as possible. This is something that you might need at a moment’s notice, and you better be able to provide it for those who want it. Make sure it’s amazing, though, because a less than amazing resume is not going to win over anyone at anytime, and that’s not a good way to earn more money.

Generate Additional Income

Do you have a skill or craft you can use to make more money on the side? If you do, do it. Most people are able to generate a sizable savings by doing something like this and it’s without too much effort. Sure, you just want to come home at the end of the day and relax, but this is something that can change your life for the better. And who doesn’t want to change their lives for the better?

Minimize Your Expenses

If you can make your monthly expenses as small as possible, do it. Get rid of everything you do not need. Get rid of all the crap, the stuff and the extras that are a waste of money. Do you have 7900 channels on your television but spend every single night on Netflix? Get rid of cable; it’s not that difficult. Do you pay for unlimited text messages every month and use 6? Get rid of it.

Stop Making Poor Financial Decisions

This is something that is a lot easier said than done, but practice does make perfect. Start by saying no to yourself when you want a new pair of shoes that look just like the other shoes in your closet. Then practice some more by saying no to that extra expensive bottle of wine and choose something more reasonable. And then say no to something else you don’t need. The more you say no, the easier your life will become and the simpler your life will be. Just say no and you will not have to worry so much about the fact that you are wasting money on things that you don’t need and you’ll become financially independent.

Get Rid of What’s Holding You Back

What is holding you back is something you know about, but we don’t. Perhaps it’s a person who is just draining you financially; perhaps it’s the desire to always have a new car. Perhaps it’s something else. Whatever it is, get rid of it. What’s holding you back is probably something that’s a lot more easily fixed than you might image, so it’s time to cut the cords and move on from whatever it is that’s making it impossible to grow and become financially independent.

Photo by Chung Sung-Jun/Getty Images


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