1. They track their net worth and spending

The first step to reaching financial independence is to take stock of what you have and what you spend. Taking inventory of your finances will help you figure out where you’re standing and figuring our what you spend annually will give you an idea of what to fine-tune going forward. Without these two steps, it’s all but impossible to move forward.

Once you get there, taking it a step further and track your net worth. It’s imperative that you know how much money you spend, not to mention what. Doing this consistently will have a hugely beneficial impact on your savings and budgeting plans, giving you momentum as you grow your wealth.