Financial independence – it's the ultimate frugal goal, but what does it mean really? Trent of thesimpledollar.com says that there are three common (but very different) definitions for financial independence. They are:
not relying on others to pay your bills
freedom from all debt
freedom from having to work for income
Which definition do you use? I tend to regard financial independence as a combination of the three; and so, for me, financial independence is not something that is easily gained. I don't rely on others to pay my bills, but I'm still digging out of debt and socking away money to reach a point where I don't have to work to live.