It is said that only 5% people in the world are leaders. The remaining 95% people are just servants. These 5% leaders have control over their mind, their habits, they learn from every moment of their life, they self-analyze their problems and find solutions to move forward.

A person or an organization may have a substantial income, but it may still not be financially stable. The reason being the improper management of income, not just the amount of income. 

Financial independence means that you manage your money or income in such a way that after a point of time you do not have to work to fulfill your needs. There are few steps which we need to follow in order to achieve financial freedom -:

  •  You have to keep saving 10% of your income seperately till you take retirement.
  •   Long term planning requires investing money, building a house, getting married, fulfilling higher education of children etc. 
  •   Recreational Account, this is for the entertainment of you and your family so that there is a balance in your work life and family life.
  • You must also spend some share of your income in philanthropic activities. 

 By making such arrangements, you can manage your income in a better way.