15th August marks the 75th Independence Day of India. A special day for Indians as they pay tribute to freedom fighters. It is a day which instils a special feeling of patriotism in every Indian. The honourable Prime Minister hoists the national flag at the Red Fort and soldiers march briskly in the military parade. Schools celebrate Independence Day with festivities, and every Indian is united by a sense of belonging to a sovereign state.
The Government of India celebrates the rich Indian history, diverse population and magnificent culture by enabling national development. The theme for this year’s Independence Day is “Azadi Ka Amrit Mahotsav”. It is an initiative to commemorate 75 glorious years of progressive India.
However, a question seems to persist even after 75 years of independence – Are we all independent? Most of us work in our 9-5 jobs, living from paycheque to paycheque while sacrificing our dreams due to responsibilities. Independence for an individual means to be free from all restraints and to live to their maximum potential.
Financial independence is one of the key factors that would allow an individual to lead a life of freedom. It is a possibility of truly being able to experience an enhanced lifestyle with a better potential to serve others. Let’s understand more about financial independence and its advantages.
Financial independence and its advantages
Financial independence means being self-sufficient and providing for our dear ones without the need to trade time for money. Essentially, it does not require an individual to work in a job just to support their family. Being financially independent enables individuals to support their families while providing better lifestyle and experiences. Now, financial independence is a dream for most individuals. Let’s understand the advantages of being financial independent –
1) Live life on your terms
Financial independence allows an individual to lead the life of their dreams. Often, when individuals work in conventional jobs, they are required to commit 9-10 hours every day, and they may have to work 5-6 days per week. So, this allows very limited time for an individual to experience the freedom to take part in activities of their choice. Most people get drawn away by their busy schedules that they may not even have time for their family.
Financial independence allows individuals to spend more time with their families. It enables them to do the things they’ve been pushing for a while. Individuals can finally get out of the rat race and spend time travelling, meeting new people, or taking up activities. Essentially, financial independence allows individuals to experience a better life. It is to work on their own terms without being forced to work relentlessly to pay for the bills or fulfil responsibilities by sacrificing their dreams.
What’s more, being their own boss allows individuals to work from anywhere and anytime. One can choose their own working hours without being held accountable to anyone. Moreover, most people do not like working under a boss or having their work monitored constantly. Starting a venture of their own allows individuals to truly work with freedom and lead a life of their choice.
2) Increase in buying potential
Everything comes at a cost. If individuals want to enhance their lifestyle, buy a big house or own luxurious cars, they need to spend money. Often individuals have limited spending power. Due to low-income jobs, they spend most of it away on sustenance. In turn, they end up sacrificing the life of their dreams and settling for less.
A successful business would increase an individual’s earnings. In turn, giving them the power to buy world-class products and enhance their lifestyle. Moreover, they can also buy great health care supplements to improve their overall health.
3) Securing family
One of the most important concerns most individuals have is providing their families with a sufficient lifestyle. However, it depends on the individual’s ability to earn well. Now, most regular jobs may not provide enough to satisfy their aspirations. Also, there is generally a cap on how much an individual can earn and achieve in a job. However, business provides limitless potential. In an industry like direct selling, individuals can leverage the power of network marketing to grow their businesses to great heights.
A direct selling business allows individuals to build the life of their dreams and provides sustainability in the long run. Overall, it is one of the best bets for an individual to become financially independent.
Now that we understand why an individual needs to become financially independent, the next question one may ask is – How to be financially independent?
How to become financially independent?
In modern times, individuals have a plethora of opportunities to pave their way towards financial independence. The most common way is by starting a traditional business. Although, traditional business requires certain prerequisites to start and scale. It may require large capital investments for setting up shop and purchasing inventory. Moreover, it will also require an additional cost for product development and marketing. So, most individuals who start a business often falter without a proper plan and funding.
Nowadays, there are also opportunities to grow online businesses. Now, this would require an individual to become a specialist in a domain and then develop a market presence. This is again an arduous task, and it may take a lot of time for a business owner to break even, let alone realise profits.
E-commerce platforms have become very popular. Individuals have been setting up their businesses online post the onset of the pandemic. But it also requires them to create an inventory and arrange for the delivery of goods and provisions to fulfil orders.
QNET’s business opportunity has been one of the best solutions for individuals looking to start a business with minimal capital investments. It also gives them a way out of the most common problems regular business owners face. So, here is how one can become financially independent with QNET –