India's economic growth likely to pick up soon, says Morgan...We should remove exemptions and deductions in a phased manner,...Independence Day 2020: 7 tips that will help you gain...Independence Day 2020 highlights: PM Modi announces 'National...Coronavirus news Live: 3 potential vaccines under development,...Generally, financial freedom refers to a state where an individual has enough resources at disposal to meet the expenses as well as he/she is able to accomplish financial goals without being dependent on others.The concept of financial freedom may, nevertheless, vary from an individual to to another. Hence, financial preparation can help one in avoiding any sudden jolts to finances. Also, start small but start early and invest in options that can offer inflation beating returns,” Jain suggests.Starting early in accelerated wealth generating avenues like mutual funds and stocks can help investors benefit from the power of compounding as well as in spreading out risks. Independence Day 2020: The essential point to remember is to wear your pride on your ensemble on a day like this. Commercial License Included. All Rights Reserved.I’d like to receive newsletters and special offers.Multicolor Fireworks Celebrate over the United state of America USA flag background, Independence day conceptInternational Festival "Circle of Light". This can also be achieved by instilling the habit of budgeting in life.

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As one learns more about the nuances of investing, they will be able to explore more wealth creation avenues and will take smarter decisions regarding their portfolio.
One can increase the contribution towards the goal in proportion to the increase in savings/increments received so that he/she can reach the desired corpus faster.Life is unpredictable. Independence day concept - gg78923486 GoGraph Stock Photography, Illustrations, and Clip Art allows you to quickly find the right graphic. Depositphotos, Inc. USA. The concept of financial freedom may, nevertheless, vary … The meaning of freedom differs from one person to another. "With time, premiums get more expensive. It has given me full power over my life. Download royalty-free Multicolor Fireworks Celebrate over the United state of America USA flag background, Independence day concept stock photo 161552270 from Depositphotos collection of millions of premium high-resolution stock photos, vector images and illustrations. 3D projection mapping on building and firework showMulticolor Firework Celebration over the Part of Abstract planet earth particle background, Independence day conceptIndependence day 4th july text over the Multicolor Firework Celebration over the Part of Abstract planet earth particle backgroundIndependence day 4th july text over the Multicolor Firework Celebration over the Part of Abstract planet earth particle background Independence Day 2020: 7 tips that will help you gain financial freedom Updated : August 15, 2020 09:55 AM IST . Hence, the first step towards financial independence is to learn to live within means.“Individuals should follow the 50-30-20 rules of budgeting so that they are comfortably able to allocate the post-tax income to all three buckets,” opines Harsh Jain Co-founder and COO, Groww.Here Jain means that 50 percent of the income should go to needs, 30 percent to wants and 20 percent to savings and investing.Usually, youngsters tend to spend first and invest whatever amount is left at the end of the month. Jain stresses on reversing this process.Based on the average expenses, one should determine a fixed amount that he/she would want to save and/or invest every month.“Invest first and spend whatever is left. For a child, freedom may mean playing for long hours, for a teenager, it may mean living on one’s own condition. Download Indian Independence Day concept background with Ashoka wheel (820665) today! "Based on average monthly expenses (living costs), everybody should have an emergency fund that can allow them to survive without income for at least six months. So, it is important to buy it as early as possible," opines Jain.According to experts, one should cultivate a habit of reviewing finances once every six months. This will protect the investments and keep them away from unwanted debt," explains Jain.One should invest in liquid funds for this purpose so that the emergency corpus is easily accessible.One should ensure that tax planning is aligned with the long term financial goals.
In this scenario, how financial independence can actually be achieved?Experts say this is possible with proper financial planning.To mark the occasion of 74th Independence Day, here is some advice on how to achieve financial freedom.While credit cards and loans allow people to live a certain quality of life instantly, they can impact their financial stability in the near and long-term. Independence Day is always a great time to take a look back at what we have accomplished thus far and where do we go from here and to remind us of our collective responsibility to leave our nation in an even better place than what we were born in. "Read books on investing or get inspired from industry leaders who started small, yet achieved financial independence with discipline," adds Jain. According to experts, one should look for avenues that serve the dual purpose of wealth creation and tax saving,One should always have insurance with sufficient cover,  experts say. We have a huge range of Backgrounds products available. As a disabled person, I regained my self-esteem the first day I transferred to Concepts." Download this Free Vector about Malaysia independence day concept, and discover more than 8 Million Professional Graphic Resources on Freepik This is called financial freedom.Generally, financial freedom refers to a state where an individual has enough resources at their disposal to meet expenses and is as well as able to accomplish financial goals without being dependent on others.The concept of financial freedom may, nevertheless, vary from an individual to to another.While one may have a fixed salary,  it may not be sufficient to meet his/her expenses. The image is available for download in high resolution quality up to 4928x3040.© 2009-2020.