How to be financially independent in India? This article is for everyone regardless of their country. Everyone wants to be financially stable in the world. But the question is how? I am not a millionaire but I am still learning how to be financially stable. I have been following so many entrepreneurs and successful people since last year.

Here I have been implementing those things in my life. I am going to share the same thing that will help you to be financially independent. This article is very important for those people who really want to be good and have a  wealthy life.

How to be financially independent in India?

1- Start learning new skills.

I have seen so many people who just prepare themselves for a government job after pursuing 12th or graduation. Although it is not a bad idea to get a government job. If you are a college student, employee, or businessman, you must start learning new skills. Here new skills mean learning those skills that can give you extra money.

You do not have to spend 5-6 hours daily instead 1-2 hours is enough if you are learning any new skills. Excel, affiliate marketing, blog, content writing, Youtube channel, photoshop, and so many.

There are plenty of skills that you can learn over youtube for free. These are short-term courses and are demanded in the market. So if you are a student or employee, you should always learn new skills.

You can do freelancing after learning these skills. Everyone wants multiple sources of income but it is not easy. If you want to earn more money then you have to learn and develop skills. I have seen so many college students, who make money during their college studies. So start learning new skills and sell them in the market using social media platforms. You can also make money through freelancing.

Also, read How to do freelancing in India?

2- Track your spending.

There are so many people who spend their money without knowing how much they have spent in a day or month. They don’t even keep track of their money. And this leads to a shortage of money in the month-end. You should know how much money you are spending and how much you should spend. Keep the separate money for your daily or monthly expenses which are fixed. Apart from that make sure you fix the money that you will use in a day or month.

By doing this, you will notice that you are saving more than earlier when you start tracking your money. If you are spending your money on useless things then forget about becoming financially stable. You will die struggling with money. Hence always make a list of those things where it is necessary to spend your money.

Also, read How to make money from YouTube?

3- Read money-related books.

“Readers are the leaders”, is a famous saying by Harry S. Truman. I know many people do not prefer reading books, but trust me a good book can change your life and your perception as well. If you really want to change your life and want to become rich and have a good understanding of money.

Then read some books like Rich Dad poor dad, The total money makeover, The Automatic Millionaire, I Will Teach You to Be Rich, etc. These are one of the best and most popular books related to financial knowledge.

If you are not getting the time to read the books, then you can find so many audios of these books on youtube. If you start implementing these things in your life then you will definitely become financially stable. Schools will never ever teach you how to become rich and earn money.

Schools will only give you certificates and send you to find jobs. You will learn so many things when you come out of college. These books and other resources help a lot to survive in society.

4- Start investing.

The poor people save their money in the bank and the rich people invest their money wisely. This is a difference between poor and rich people. Saving your money will never make you rich and you will die saving your money.

Instead of saving money start investing those savings in mutual funds and the stock markets. Do not install any trading app and invest directly. Many people make money through stock marketing, in fact, some are doing it full-time. Believe me, they are earning a lot that you can not imagine.

You can invest your money in mutual funds and the stock market. There is a low risk in a mutual fund but investing your money in the stock market is a high risk. So in the initial days, you can invest your money in a mutual fund using the Groww app. Meanwhile, you can learn about stock marketing strategies.

You can do an analysis of the different companies before investing. Use diversification techniques before investing in mutual funds and the stock market. It means do not invest all your money in the same company. If you have 10k rupees then divide it into different companies. By doing this you will have a low risk of losing your money in the future.

Also, apply the same method in mutual funds while investing your money. Although there is a low risk in mutual funds and try to divide your fund into different companies.

Either you can use SIP(Systematic investment plan) or a one-time payment. SIP means you can use your money like an EMI every month for a certain time. Either you can do a one-time payment and withdraw it after a certain time. If you had a question in your mind that how to be financially independent in India? start investing wisely.

Conclusion.

Small steps make big differences hence start implementing the above tips which I have shared. Before doing anything first of all learn and then try. You must have heard that “Put money to work”, means instead of saving try to utilize your money in investment and trading. But before that learn how this process works.

Make a mindset like rich people and observe how they use their money. Read about famous and rich people and how they have become millionaires in a short period of time. The more you read about them the more you get an idea from their point of view.

If you are engaging yourself in money-related financial knowledge then your mind will automatically start to give ideas. Hope these tips may help you to become financially stable. How did you find this post? I hope you must have got an idea that how to be financially independent in India.