Become Financially Independent

So all of my credit cards are paid off. Thank you dear husband. BUT starting in Jan. I have a new bill – school loan. That is big and will make a difference- but my spending is way down. So hopefully 2010 will be the year. That is the plan anyway.

i’m putting myself through college while living through my dad. I want to get married but not have to depend on a man for money, i want to do things myself.

When I made the goal to become financially independent, I meant that I wanted to be paying for everything myself, instead of my parents.

My mom told me that if I needed anything, I could just ask her. However, the hospital trip to the city opened my eyes.

It was for an emergency, but we still went to the mall to watch a movie. When we were there my parents were arguing about money. I realized I absolutely don’t want to be like them. It’s a terrible place to be.

I know what I want and am not afraid to ask because I’d rather be happy than unhappy with the things I don’t really want. That being said, it’s time to fly from under their wing!

I’m going to be happy taking care of myself

...with the other goal: “Stick to a Budget.” ;)

While in college, I’ve decreased my savings quite a bit, but I don’t have any outstanding debts. I will be starting some student loans in the future though, which will be a collaborative effort.

Through continual working, managing a budget, and saving more, I look at this as being feasible in the near future. Aiming towards completely financially independent by then end of next year (Dec 2010).

I’m getting closer… I applied for and got a job in the english department here on campus! It’s so satisfying to see the bimonthly paychecks!! I’m still on my family’s insurance, and they still pay my phone bill, but that’s it.

I was a High School History teacher but I wanted to be at home when my children got home from school. In January 2009 I started freelancing online and I’ve done a few jobs so far. My ultimate goal is to earn a full-time income via the Internet. I’ve just started building my first website (I’m doing it myself because I believe experience is the best teacher)! I know that achieving this goal will require LOTS OF WORK on my part (no get-rich-quick plans here!).
There’s a lot I need to learn so I’ve started staying up until 2am once every 3 nights. I’m learning new things during this time. My progress so far:

1. I’ve taught myself to build a database using FileMaker Pro
2. I’ve re-learned some of the HTML I knew at University
3. I’ve learned to create a Squidoo lens (check out my 1st lens on speak like american

My next project is to teach myself Camtasia Studio.

this purpose is based on my life.

When I say I want to become financially independent, I mean it in a few different ways.

First and most important, I want to become financially independent from my parents. While Fiance and I pay for pretty much everything, my parents still pay for my car insurance and health insurance. When we get married in October Fiance’s health insurance will cover me and I plan to take over paying for my car insurance right away.

After I become financially independent from my parents, Fiance and I want to start working toward becoming financially independent from our day jobs. We’re planning to begin a few side projects and hopefully build them into something that can help us be less dependent on the whims of bosses and city budgets. During this process we’ll also start paying down our student and car loans, as well as saving for a down payment on a house so we’ll be able to stop putting money into property we do not own.

1. Passive income PA > 6 months expenses (30K)
2. No outstanding loans except mortgage

Passive income is income not earned from work. The term passive income implies that the income is from the cash flow generated by assets owned. Thus, royalties from books published would be considered passive income, but gifts from relatives would not. In taxation, a distinction is made between passive income and what is called portfolio income. Passive income is then defined as income from any trade or business or income-producing activity in which the taxpayer does not materially participate. Portfolio income is then defined as income not derived form a one’s trade or business. For instance, book royalties would be classified as passive income of the author, but portfolio income of the author’s heirs. Dividends from public company stocks owned would usually be considered portfolio income, but might be regarded as passive income for the founder of the company. The usual rationale for wealth accumulation is to have sufficient passive income to obviate the need to work. In this context, passive income is taken to mean both portfolio and passive income.

Jeez, that feels like a long time.
What about the instant Tony Robbins’esque results?
There must be a better way.
All of the self help guru’s suggest starting with a plan.
Tony Robbins says a common feature of successes is RPM:
1. Result – what do you want to achieve?
2. Purpose – the why’s…you need to have enough juice to get you to where you want to go
3. Massive action plan – how you are going to achieve it, and what you’ll do if your first or second action plans fail