First Step of financial independence starts with debt free life. Income generation is very defined or limited but your expenses are limitless. If you understand your income/expenses pattern you can attain Financial self sustainability.
Credit Cards, Consumer product loans, Personal Loans are the debt traps that makes everyone to fall. One who cognise that it is liability and stops him from the opportunity of generating future income will never enter into it. Being debt free will boost you to save more.
If you can postpone your desires/wishes instead of getting into debt. You can achieve financial freedom.
MentoTax recommends to hold a emergency corpus equivalent to three months salary in instruments where it can be easily withdrawn with out any complications. This will help you to protect using future income for today's need in case of any contingency.
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