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Financial Freedom and Independence

The Way to Financial Freedom and Independence

Way to Financial Freedom
Financial Freedom and Independence

Everyone wants to be financially free and independent. But such does not just happen. There are things you need to do intentionally. Maybe you may say it is too late to start on such. But it is never too late to start on something that leads to freedom.
This article is about the steps to that financial freedom and independence. It shall cover; putting in place a savings plan, dealing with debt, and using your savings to invest. Let us now look at the steps:

1. Put in place a savings plan.

Financial saving is about putting some funds aside for future needs. It is the starting point for those who do not have a good financial background to their financial freedom and independence.
This is paying yourself first. It is unfair to oneself to start paying everyone else after getting a salary or earning money except oneself. How do you do that? You start by paying rent, tithes, paying debts, utilities and other things until your monthly earnings are depleted. So, saving at least 10% on every income you get is a great starting point. This is affordable for everyone since it is proportionate to your income. There can be no excuse.
What are you waiting for? Start right away. Open a savings account by joining a savings and credit cooperative or use a bank. Avoid withdrawing those funds until a certain given period.

2. Deal with debt

We all want to use debt at a given period. However, there is good and bad debt. I term bad debt as that, which does not generate income for you. Good debt is that which is used for productive purposes like starting some income generating projects.
Bad debt adds liability to you. Note that I am not using these terms as per the accounting terminology. So, an asset that is a liability is one like a car or house for personal residence. Why term these items like this since they are known as assets? They are a liability because they take cash out of your pocket.
Over indebtedness should be avoided at all costs. If possible, reduce and do away with debt. The savings plan mentioned above shall take you to financial freedom and independence when followed consistently.

3. Use your savings to invest.

Investment is better than savings. However, you need to first have some funds before you can invest. Unfortunately, that is where most of us must start from. There are several ways in which you can invest your funds. The ways may include, business, buying financial assets, investing in financial stocks, property, etc.
Investing helps you build your wealth, thus giving you your financial freedom and independence. It is a way of growing your finances.

The above three steps shall help you start on your journey to financial freedom. Just follow them. Start by setting up a savings plan and follow it consistently. Do not wait long because there will never be a favourable time. Work on your debt by following a repayment plan. Then invest your funds so you can grow your finances. Those three steps shall indeed put you on the right track to financial freedom and independence.


Elphas Sipho Mdluli- MBA Areas of Expertise Business Leadership – Operations Leadership – Financial Management – Process Optimisation – Decision Making Stakeholder Engagement – Project Delivery – Organisational Strategy – Relationship Management – Negotiation Skills Strategy Development – Change Management – Relationship Building – Team Empowerment – Performance Improvement Critical Thinking – Systems Thinking – Strategic Planning – People Management – Business Administration Executive Summary As a meticulous, driven and people-oriented professional, Elphas is motivated by ensuring the achievement of organisational goals. He is fuelled by improving business performance, whilst his all-embracing skillset has enabled him to successfully execute projects across various platforms. His career has presented the effective delivery of solutions, leveraging expertise in financial, operations, administrative and business processes, as well as the management of integrated transformational projects. Elphas thrives in complex environments where strong leadership is required to drive business performance. As a highly focused and participative leader who believes in effective teamwork, he prides himself on his innate ability to connect with and lead stakeholders across all levels of an organisation. With a dedication to continuous improvement, Elphas has completed a vast range of courses, including currently completing his Doctor of Business Administration, building upon his MBA, Bachelor of Ministry degree and Bachelor of Commerce degree in Accounting, to mention just a few. Career Summary Elphas has built his career on a strong academic foundation across a diverse range of areas, including accounting, management development, ministry, finance, corporate governance, risk management, behavioural intelligence, leadership and business administration. He is a Business Leader, an Author, a Lecturer and a pillar within his community. His diverse roles have shaped his skillset and his early roles consisted of Chairperson and Senior Pastor for Christian Liberty Centre and Branch Officer for Select Management Services before moving to Sibonelo Savings and Credit Cooperative Society as Accountant, Manager and then General Manager. In 2013 Elphas spearheaded the start-up of Life Solutions Investments, an organisation providing Training & Consultancy as well as leading operations of a Block Yard. He has also been contracted by Calvary College as a part-time Lecturer. In addition, Elphas has written and published numerous books based in business, marriage and spirituality, as well as being Founder and Senior Pastor of the Freedom Centre International Church. As a result of his sharp business acumen, Elphas was offered the role as Executive Manager for Eswatini Association of Savings and Credit Co-operatives (ESASCCO) where he effectively led teams across various departments. He oversaw Administration, Finance, Training, ICT and the Insurance departments. Elphas has consistently excelled in improving performance and has enjoyed many successes throughout his career, which is evident in the success of the organisations in which he is involved. Elphas provides a significant contribution to the long-term sustainable growth through his extensive experience, vast administration knowledge and impeccable business leadership abilities. His implementation skills are forefront in overall strategic development, and his involvement in business ensures ground-breaking improvement in performance. He is a resourceful professional who has a passion for the development of commerce and the progress of human capital within business, ensuring and facilitating significant growth and financial health of an organisation.

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