Say Yes to Financial Independence

September 21st, 2011 | by ashley gordon |

What’s financial independence worth? A lot, in my opinion. By financial independence, I don’t mean no longer having to work for a living, but rather supporting yourself financially instead of relying on parents or a partner. When in college and just starting out, many of us have to rely on our families financially. My aunt and grandmother footed some of my expenses at UC Santa Cruz, and it was hard to imagine getting by without the help.

But I did have to work from high school on. At the time I wished I was one of the friends or schoolmates I knew who had clothes, cars and vacations that I didn’t—compliments of their parents. But it turns out I was getting a lot more out of my situation than I realized: a sense of confidence, an understanding of debt and how to get and stay out of it, and the freedom of knowing I was paying my own way.

Here are a few thoughts on why financial independence is an important goal:

Pretty much everyone out there needs help sometimes, financial and otherwise. The question to ask yourself is: do I really need this help? What is my plan for ensuring it’s short-term?
Isn’t a lower standard of living preferable to a higher standard and dependency on someone?
It’s important to work, even if it means taking a job you feel is beneath you. I’ve been a cashier, a barrista and a waitress—since receiving my college diploma. The reality is, it can take time to get into your dream job, and it’s important to have an income in the meantime.

Having an income, spending less than you make and starting an emergency fund are important pieces of the “financially independent” puzzle. Find out more about them here.

Financial Solutions