What is economic independence?

For a person of 18 years old, economic independence is entirely possible. Independent economy is very important to a person, so some conditions need to be met. We should identify it from several aspects:

First, personal life should have dynamic income. At least it should be a state of self-sufficiency. Whether it is a car loan or a mortgage, you can go to the bank for a loan independently. You should be able to solve it yourself.

Second, to have continuous funds to enter personal income, your stable income source must be a stable income source.

Third, you can take care of your life, support your career, have your own independent thinking in family and marriage, and support your economic expenses after marriage.

Fourth, there are no financial restrictions. I can completely control the funds, I can use all my savings, and I can take care of my parents at the same time.

Fifth, the necessary expenses per month are less than half of the monthly income, or even less, because you still need money to do extra things, such as buying clothes, inviting people to dinner, weddings and funerals, giving gifts and so on. The necessary expenses should include food, housing, transportation and communication expenses.

Sixth, save some money before getting married. This part of the savings must be reduced every month to support your life for a long time.

With the above characteristics, you will be completely independent, and you are also a truly financially capable person. Economic independence is like this. I hope you can refer to it.