It’s Never Too Late: Five Signs You Can Still Become Financially Independent

3 min read By eCompareMo on September 30, 2015

Some people think whenever they reach a certain age and they still haven’t reached the target figure they have in their heads, they already consider themselves a failure and stop pursuing their dreams of becoming financially unburdened. However, it is never too late for everyone, as long as you have the right mental tools to pull it off and the endurance to withstand temptations. What are the five signs you can still become financially independent?

Read: (4 Basic Financial Education Lessons We Don’t Learn In School)

You have basic grasp of financial literacy

A lot of people aren’t aware that financial literacy exists, primarily because this is the one important thing overlooked by our parents as well as our educational institution. However, some people have the hunger to arm themselves with the right mindset in handling money—and they harness the power of the internet to learn more about financial literacy and good money habits. If you do not yet have the basic principles of financial literacy, you can use the internet to find thousands of resources and become smarter with the way you handle your money.

You are more than willing to improve yourself

Complacency kills, and for a good reason. When people become too satisfied with their lives, they tend to become careless and lose sight of what’s important, even with money. Once you stop improve yourself and become stale with your money, you will enter a regressive loop, causing you to become slippery when it comes to your finances. Next thing you know, you’re in a downward spiral of money. If you have the knack for continuously improving yourself, you are continuously building up your mental framework to become more resilient to the money challenges up ahead.

You chase money wherever it goes

Money never sleeps. It doesn’t wait for anyone for it to catch it, nor lets anyone have it the easy way. For some people, they tend to stop once they realize that money doesn’t come easily, and they become content with the little they have. However, some people are bullish enough to go through hoops just to earn big and make it out there. Whether looking for a better paying job or putting money in the right place, they chase money wherever it goes and makes sure they catch it. In the end, every obstacle you’ve encountered will pay off.

Read: (4 Budgeting Apps Every Financially Savvy Pinoy Must Have)

You don’t get debt that doesn’t let you earn money

It may be a ridiculous thing to say that debt can earn money, but people who are aware how good debt works can assure you this happens. To some people, debt is merely an instrument to get them out of a foxhole, only to find themselves digging deeper and deeper until they can no longer get back up. However, people who understand how debt works and how it can be beneficial can borrow it without problem—and pay it with ease. Whether it is a wise credit card purchase or a personal loan to get a business up and running, only borrow money if it will allow you to get more money.

You hate being poor

Being poor is a state no one ever dreamed of, especially those who are already there. When you’re poor, you’re not just limited financially; it can also affect your physical, mental, and moral well-being. If you’ve been there or afraid to be there, the best thing you can do is work your way out of poverty and make sure you and your family won’t have to endure countless nights thinking how to get by the next day. Do you want to remain poor for the rest of your life? Then it’s time to get up and start taking your life back.

Read: (Are You Financially Ready To Start Your Own Family?)

If there’s one thing that separates financially smart people to those who aren’t, it’s the mentality that it’s never too late to turn your life around and start anew. Who knows, by overhauling your life now, you may become a millionaire in a few years of hard work and perseverance.