So let me see how independent I am this way.
Freedom from financial reliance on loved ones
Yes. I'm finacially not dependent on my loved ones. I started earning at the age of 20, that is soon after my graduation. The first stipend of Rs.1300 I got from my part time job as a machine room co-ordinator in a leading software training institute was more than sufficient for me to meet my expenses then. It also served for an extravaganza of having an american chopsey with a friend or having a vanilla-chocolate double sundae or grabing that chiken worked light blue salwar suit once in a while. It was a good and steady growth from there, and the earnings also grew decently in par with my needs. (Should I say it vice versa? :) )
Freedom from financial reliance on creditors
Nope! :(I have the positive points of
1. Not having any credit card debt.
2. Not having any education loans to be paid.
3. Not having any home loans to be paid.
4. Having independent life insurance to take care of my dependents.
5. Having some fixed assets which may be helpful in the distant future.
I have some neutral points. Why I say they are neither positive nor negative because I enjoy the benefits as they exist as of now but they are totally dependent on my job.
1. I have health insurance for myself offered by my employer.
2. I have health insurance for my dependents, offered by my employer
3. I do not owe money to any person (This is partially true, as I owe 25000 to George but not a negative point as I have kept the amount separately in an account to give it to him. Where does he have time to come back to India? ;) )
Oh! My negative points:
1. I have a car loan to be paid - 3.5 more years left.
2. I have a personal loans to be paid - 1 more year left.
3. I do not have a sufficient emergency fund in place.
4. I do have to worry at the news of IT companies giving layoffs and when dollar gets sick & weak.
Freedom from financial reliance on employment
No way! Atleast as of now, I cannot even think of not having those rush hours in the morning so I can enjoy a cup of tea at ease in the morning. And go to pickup grocery at 11 a.m, avoiding the endless queue in food world in the evenings. And curl up in the sofa to catch up a nap watching that boring Malayalam serials they show in the afternoons. No.. I have a long long way to reach there. (I'm sure those serials would still be continuing with the heroine's grand daughter getting married to her ex-boyfriends step daughter's son and they meet after years at the wedding reception! )
Now, coming to establishing a plan to achieve my financial goals. Aaha! I have a very easy way. Turn to my husband and say,
I do baby sit
I do sweeping and mopping
I do dishes
I do laundry
I do house keeping
I do cooking
I do grocery shopping
I do inviting/talking to our relatives and friends and maintain the relationships fresh
Then why do I need to work too? Honey, you take care of all the financial responsibility and let me be financially independent. Wow! :)
Poor Guy. The next day I would see his blog with his list of additional financial burdens.. he.. he...
Now, no joke, I have to think seriously of some "freedom from worry" plans.
