Usually, individuals start becoming partially independent (when it comes to financial matters), when they graduate university and start a career. However, as long as one is staying with their parents, they in one way or another, stay dependent on them. Speaking specifically for the MENA region, we see few people who financially rely on themselves whilst still living under their parents’ roofs. And even fewer who do so, before their graduation.
Aside from families who belong to lower social classes and are therefore obligated to work from a young age… We barely see any who decides to work alongside their studies if they don’t see the urgency for it. Although being financially independent has a lot of pros, it offers more than a promise of upward mobility. So let’s delve into the reasons for chasing financial independence ASAP!
Feeling In Control
Our inclination to hold on to our comfort zone is more often than not, hindering. While many people can find it intimidating to step out of it and start relying on themselves, a sort of plot twist can occur and one ends up relishing in their newfound control.
You can now choose how and when to spend your money.
It will render you more powerful, knowing you’ve got your money and have the absolute freedom as to how and when it’s spent. Of course, at first one might miss-spend their money, either by becoming a spendthrift or close-fisted. However, there’s no better way to learn how to spend your dimes, than by experience!
More Opportunities
Now that you have your own money, you can explore your possibilities and widen your horizons. Maybe take a class in theatre? Or go to the hand-crafts workshop you’ve been longing to go to. Or, on a larger scale, apply for your Master’s degree abroad? The money you earn can be your gateway to a more productive, successful version of YOU.
Believe us when we tell you, it tastes different knowing you’ve earned what you have, instead of capitalizing on someone else’s already made wealth… even if it’s your parents’. This sense of obligation to take permission and wait for approvals over money is finally over!
Palpable sense of security/responsibility
No lie, it feels relaxing knowing you can guarantee your bed and breakfast, education, clothes, and everything else in between, without the worry of the how… However, life carries on in a fluctuating pattern… Ups and downs are inescapable.
Parents and wealthy people also face their own financial challenges. In case of such events, having your own source of income can cushion the bumpy ride one might experience when their parents are financially struggling. You feel like a responsible member of the family. One who knows how to handle such situations, and can at least, secure your own expenses.
Better Position To Help Others
When having your own money, you’re in a better position to lend a helping hand to those in need. Get the down-trodden out of the woods, because now that you earn your own money, you’re in a better place to help others.
No More Feelings Of Guilt & Fun is Amplified!
You can do everything you’ve been yearning to do. From the simplest of things to the most extravagant; you’ll find yourself enjoying everything to the max! Purely because you no longer feel you’re using someone else’s money… So bye-bye to carrying the weight of guilt on your shoulders.
Early Savings
Working early can help you learn how to save and later on, invest. You can find yourself in your early twenties and can afford to do stuff and buy things that others your age can’t. This goes back to working from a young age and therefore having the means and time to save, so you can have a better future.
Not to mention that it also helps you get accustomed to work-life and adulthood faster. You’re well prepared ahead of time and definitely experienced when it comes to handling financial issues!
Closing Thoughts
It might seem intimidating and even undoable at first… Especially for those who value their education and don’t regard themselves as individuals who can multi-task. It will indeed be tiring and will need constant monitoring of one’s performance, as well as learning how to balance different elements in your life. But those who are adamant about reaching financial independence will surely reach it! Don’t buy into waiting for the perfect moment… turn your independence mode on and start now!