Advantages of Economic Independence

Advantages to  Individual

Advantages Of Being Economic Independence–If we visualize the “hunting & gathering” society of the past then economic independence was reached by an individual when he could hunt & gather for his sustenance & also add to the family. Graduating from dependence to independence is a vital step in growth of an individual. Being able to earn a livelihood in modern society is the exact equivalent. There are a large number of economic & social benefits to the individual of being economically independent, namely:

  • As an individual graduates from economic dependence on parents to independence he/she experiences a great sense of freedom & control over one’s life.
  • Self reliance enhances confidence.
  • Lose sense of being a burden on others & become capable of supporting family & others.
  • Individual becomes more organized & disciplined.

Advantages to  Society

  • Individual contributes to the economy at large. By consumption he/she creates economic opportunities for others. By engaging others he/she generates employment.
  • Promotes wealth creation, innovation & progress of the society.
  • Promotes the culture of entrepreneurship. Please look at the Marwaris & Gujratis in India as examples.
  • Prosperity leads to growth of art, literature & culture. We just have to look at history for evidence.
  • Makes the society better organized, disciplined & reduces crime. We can look at Japan & Singapore as modern examples.
  • A high wealth generating individual helps growth of his family; a wealthy family similarly helps the neighbourhood & similarly a wealthy nation helps other nations. Look at Germany as a modern example helping the weaker European Union countries.

Conclusion

Economic independence must be aspired for by all & at the earliest. It has great individual & social benefits. Wealth creation is good!


Colonel M.M Nehru

Colonel M.M Nehru Is Consultant in Personality Development Coach .Nehru Sir Provide Online Guidance to SSB Aspirants by online .Nehru Sir also Write top Articles here for motivating students and increasing their g.k level.If U want to more about Colonel Nehru Click Here

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