From Struggle to Success: 10 Personal Tales of Achieving Financial Independence

Achieving financial independence is often easier said than done. However, it’s not impossible, and after hearing about other’s success stories in the arena, you’ll be well on your way toward success. Recently, people met in an online discussion to reveal how they achieved financial independence and shed light on how others can follow in their footsteps.

1. Work Double Duty

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If you’re toying with the idea of starting your own business, one person stresses the importance of keeping your day job until you find your footing with your new venture! “Keep with your day job while you get your business off the ground,” advises one man. “Then, once it’s stable, you can quit your nine-to-five. That’s important because you still need money coming in. The only reason why I’m slaving away in the corporate world is because my freelance side business isn’t stable yet.”

2. Dive in Without a Safety Net

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If you live on the wild side, read on: Many people profess that they were most financially successful when they threw caution to the wind and started a business without a safety net. Sometimes, betting on yourself pays off in a significant way! While diving head-first into entrepreneurship is intimidating, some men and women believe it’s the only way to achieve true financial independence. I don’t think I’d have the courage to do this, do you?

3. Stop Working for Others

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Countless people believe working for somebody else is the quickest way to stunt your financial growth. “One thing is certain: Nobody becomes financially independent by working for others,” reveals one woman. In other words, figure out what you need to succeed on your own and take the steps necessary to make your dreams happen! It’s a challenging road, but you must start somewhere, right?

4. Learn From Failure

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Most men and women don’t have the tools to succeed until they’ve failed. Sometimes, it’s just as important to learn what not to do than what you should be doing correctly! “It sounds weird, but I became financially independent by failing,” confesses one man. “I assumed everything would be on an upward trajectory, but before I knew it, I bit off more than I could chew. I had some hardships, built myself back up, worked even more, got more savvy with money, and remembered that early lesson of learning from my mistakes.”

5. Update an Established Business

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In 2023, it’s more important than ever for businesses to update and adjust with the times. The same marketing and operational strategies that worked in the 80s and 90s will not succeed in the present climate. Unsurprisingly, countless people report immediate success with taking over failing businesses and getting them up to speed with current trends. From aging steakhouses to dry cleaners (and every business in between), changing with the times is imperative. It’s all about modernization and convenience these days!

6. Develop Desirable Skills

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Many believe that to make money in this world, you must have skills no one else has. It’s essential to market yourself as someone with undeniable skills and put in the necessary leg work to hone those skills. Whether going back to school to further your education, learning a valuable trade, or doing whatever it takes to acquire knowledge, developing skills that a company values and searches for makes anyone’s journey to financial independence infinitely easier.

7. Be Ahead of Trends

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Whether you’re interested in cryptocurrency, investing, or embarking on your own business, it’s crucial to be ahead of the trend. Don’t be the last one in the race! “When you really understand the internet and money, then you can make money on whatever you want,” one man cryptically explains. “Don’t get left behind; for example, capitalize on artificial intelligence because it’s only going to make things better. Remember, the competition will catch up eventually. Just don’t give up and keep going.”

8. Never Stop Working

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Perhaps we should all take a cue from our parents and grandparents: Never stop working! Although this is, by far, the least sexy path toward achieving financial independence, it’s the most sensible for most people. The logic is simple: The more you work, the more money you’ll have down the road. I know this strategy isn’t necessarily one you want to hear, but sometimes, the truth hurts!

9. Live Within Your Means

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If you’re serious about securing your financial future at an early age, it’s time to start living within your means. What that entails is simple. Don’t finance new cars you can’t afford. Don’t take on more debt than you can pay off every month. Don’t live alone when having a roommate or two makes more sense. Being financially independent is closely linked to being responsible in life!

10. Take a Chance on the Stock Market

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Although countless horror stories exist of people losing everything by playing the stock market, there is still an opportunity to strike it rich. Ultimately, it all comes down to how well you assess risk! “Although I consider playing the stock market a form of gambling, it has paid off for me,” admits a frequent stock trader. “I frequently buy de-listed penny stocks after careful consideration and research, and in many cases, I enjoy 10x returns. I purchased a thousand shares of Hertz stock a few years ago for less than $1 per share and sold it all when it hit $20 in 2022.”

Source: Reddit.

17 of the Best Crazy Ideas to Make Money Legitimately

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If you are always looking for ways to make money, I can assure you there are countless ways. It helps if you are creative and open to crazy ideas to make money legally, whether as a side gig or a full-time job. On a recent online forum, one user asked members, “What are the craziest ways you’ve heard of people making money?” The thread exploded with all sorts of suggestions that we share.

22 Dead Giveaways That Someone Grew Up Poor Long After Escaping Poverty

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Being poor is not a choice but often a reflection of society and should never be a mark of shame. Those who grew up poor have a mindset that is not easy to shake long after escaping poverty. The residual effects of feeling hunger and cold bring back memories that spurred gratitude, resourcefulness,  and nostalgia by some who shared their experiences on a popular online community, answering, What are dead giveaways that someone grew up poor?” I recognized similar incidents familiar to me, bringing back memories from my upbringing.

11 Tiny Luxuries We’d Savor if We Struck It Rich

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What small item of luxury would you buy if you won a multimillion-dollar jackpot tonight? What minor yet profound indulgence would you spend your newfound wealth on? Most people would want to jump out of debt and buy a posh house by the sea where the wind gently pushes off the window panes in summertime reverie, but if you were confined to only the little luxurious things, what tiny special treats would you savor if money stopped being an issue? Someone on a money forum wanted to know what small luxury people would cash in on if they suddenly hit gold, and we consider these the funniest and most thoughtful responses on the thread.

Baby On A Budget – How to Dodge 10 Costly Pitfalls

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Let’s be honest: Having a kid is becoming more expensive as the years go by! Recently, men and women met online to reveal how to dodge costly parenthood pitfalls. Whether it’s genius money-saving strategies, avoiding costly baby purchases, or simply purchasing sensible things for your child, here is how to be a parent and not go broke.

10 Things To Always Buy On the Cheap Because It’s Not Worth Spending More

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Every time you decide to leave your house to make a trip to the grocery store or eat out, you’re making a conscious decision: to save money or not. Thanks to inflation, a trip to the grocery store will cost you more than ever before, and that’s why it’s so essential to make money-savvy decisions every chance you get.

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