The “Simple Dollar” blog has a good post about the steps to financial independence. Following these steps can be a great strategy for growing your home business.

Step #1: Freedom from financial reliance on loved ones

Step #2: Freedom from financial reliance on creditors

Step #3: Freedom from financial reliance on employment

By building a part-time home business that provides residual income you can use the residual income to complete steps #1 and #2 all the while developing your future income through step #3.

Personally I like adding an extra step between steps #2 and #3. Step #2 could be freedom from reliance on creditors other than your mortgage. Step #3 could be freedom from your mortgage including an emergency fund.

You can read the article here:

http://www.thesimpledollar.com/2008/06/01/financial-independence-as-a-goal/

Danny