Being financially independent is no longer an option. Nowadays it is practically an obligation, because nobody can assure you that next month you still have work or that when it is time to retire, there is money to pay the pensions. Achieving financial independence in the shortest possible time is one of the greatest challenges for the future.

Starting out with nothing makes it hard to imagine becoming wealthy. Even if you are putting aside a little extra cash from time to time, it is still difficult to see how those small amounts could add up to enough to count for anything significant.

The reality is, anyone who has built a significant amount of wealth starting with nothing had to start somewhere. They also understood that there is no hidden secret or magic button for getting rich overnight.

Too many people do not put away enough money for their retirement or unexpected expenditures. Planning will give you peace of mind and ultimately lead to a better quality of life.

There are two common traps people fall into when it comes to saving and investing. The first is that we say we can't afford to save money - "I hardly get by on what I earn". The second is that people think there's always plenty of time before they need to start planning their financial future.

Frugal living is about being conscious of and smart with the money you spend on necessities, utilities, or other living costs. It is about saving money and creating a nest egg for yourself, without taking on a mountain of debt. Whether you are just starting on your own or are looking for new ways to save money, here are some tips for adopting a frugal lifestyle.

1. De-Draft Your Home

Home heating and cooling costs are expensive and you are likely to spend a lot more money per year when your home is full of drafty spots. These are the areas around door jambs and windows where hot air can seep in during the summer, and cold air can leak in during the winter. Install new windows and doors for long-term savings or purchase weather strips that adhere to the seams to keep heat and cool air from entering your home.

A report from Credit Suisse in 2013 showed that 13.2 million millionaires existed in the US alone that year. That’s huge number.

So, what are the wealth secrets the 13.2 million millionaires (the number may have increased several folds since 2013) won’t tell you?

Anyone who has lent a friend 20 dollars because they forgot their wallet has given a peer-to-peer loan. Peer-to-peer lending is simply a way that people with money can lend it to people who need money without going through the traditional process of depositing the money in the bank, earning interest from the bank, then having the bank lend the deposit money out at a higher rate of interest.

Everyone has ever dreamed of having high income from work or business, a secure family and money aside. If you look around and look for an investment to help you achieve long-term financial health, investing in P2P loans can be an interesting way for young and middle-aged European investors.

In order to retire early, our intention is to find a high-paying job where we can work hard. Working hard for hours on end can be constraining. Most working individuals feel that they do not own their time because they need to report on the job 8 hours every single day, sometimes even longer.