Financial independence and its levels are among the topics which are not aware to many people. Financial independence is nothing but having income after retirement to face the expenses for the rest of life without depending on others. Income earned by not working in a job is referred to as passive income. Not everyone finds this a perfect one for their life as people’s standard of living differs. Usually, people working under government sectors will get passive income once they retire from their job. And even a few private sectors provide passive income. There are many strategies to get freedom independence. The moment called (FIRE) The Financial Independence, Retire Early has emphasized the power of financial freedom. Those who get passive income can be happy and independent in their old age without worrying about anything and don’t need to depend on others for money. There are many ways to yield financial independence. It is said that there are three levels that help to unlock financial independence. They are Budget Financial Independence, Baseline Financial Independence, and Blockbuster Financial Independence. All these levels should follow the basic criteria that it’s not necessary to work for a living. Passive income will cover all the expenses to eternity. Or the net worth value should be equal to or greater than the number of living years. The person is said to be financially independent if they are able to meet their necessities from the sources, regardless of their age, wealth and the salary they are earning. There is also a defect in this, that is due to the inflation there is a chance of losing their financial independence. Dividend income helps in this as the sum of money will regularly be given to the shareholder. Both the assets and expenses play a major role in one’s life, both have to be managed by increasing the assets or by reducing the expenses.  Financial independence levels, Budget Financial Independence is nothing but getting the passive income. This won’t work all the time in all the companies. If you are not ready to work all the time and can also cover up all your expenses, then you will be the perfect fit for Budget Financial Independence. Then comes the Baseline Financial Independence, one should have more investment than the regular expense that met by the family. Inflation will be the biggest drawback in this and also no one knows how long they are going to live, so that will also be the biggest drawback in this. So, it’s always better to have more than the need. And if one, once reached financial independence then there is no need for them to save. In this case, many people find it difficult as they have the fear of not working. Thus, the Budget Financial Independence. Blockbuster Financial Independence, this level helps to lead a comfortable life with huge income. This level is also known as Fat FIRE or Obese FIRE. And this level was the most popular one today. This level was completely for the luxurious and happiest life. But this won’t be the successful one all the time because of a few drawbacks in it. All three financial independence levels are good and helpful. And it differs according to the level, members in the family, and their needs. Some need to be more comfortable and luxurious, while some are happy with what they have. So, it depends on the individuals. It’s really an important one to be financially independent. You can be independent without depending on others for your survival. And you can be like how you want yourself to be. And nowadays it becomes a difficult task for anyone to become financially independent because of inflation and so on. But being financially independence is a treasure that everyone should have in their life.

What is social entrepreneurship ? It is usual to hear about social entrepreneurship because it is nothing but an initiative that solves problems and brings about a positive change to society. I still remember the beautiful words of Bill Drayton, a famous social entrepreneur and founder of Ashoka, about the work of social entrepreneurs: “Whenever society is struck or has an opportunity to seize a new opportunity, it needs an entrepreneur to see the opportunity and then to turn that vision into a realistic idea and then into a reality and spread the new pattern all across society.” We need such entrepreneurial leadership at least as much in education and human rights as we do in communications and hotels. He says this is the duty of social entrepreneurs. To be very simple, when an individual or a group of people work together to solve a problem or cause of a problem prevailing in society, by starting social ventures, non-government organizations, or non-profit businesses, including charities and orphanages, it doesn’t matter whether it is large scale or small scale, it matters that there is a positive change in someone’s life. This is the theme of social entrepreneurship. The best-known example from India to which you can easily relate is Urvashi Sahni, founder and CEO of the Study Hall Education Foundation (SHEF). Harish Hande, CEO and Founder of Selco. Jeroo Billmoria, supervising several NGO’s. Anshu Gupta, founder of Goonj. Sumita Ghose, founder of Ashoka Changemakers. There are several other social entrepreneurs who work for the betterment of society. I think it is all clear about, What is social entrepreneurship? and there are various types of social entrepreneurship. A few categories are 1.           Global Social Entrepreneurship This is large-scale social entrepreneurship, where the social entrepreneurs think in a wider way to rectify the problems worldwide. It’s not possible to change the world with one hand. These types of enterprises join hands and collaborate with other organizations that work for a similar cause in various parts of the country or regions. Moreover, it is a network that supports early-stage social entrepreneurs and teaches them. This network concentrates more on supporting people who thrive on becoming social entrepreneurs. It supports the existing organizations to become sustainable and effective. 2.           A Non-Profit Social Entrepreneur: These entrepreneurs follow the reinvesting process. They put their profits, along with the initial amount they invested, into the cause. If they start a project to educate kids from underprivileged backgrounds and they have received more funds than they need, they will expand their portfolio and use it to educate underprivileged women. Many enterprises choose this type of entrepreneurship to increase social goodwill. 3.           Social Entrepreneur in the Community: Even though they work for a wide variety of causes, they work within a community. It is a small-scale initiative that can be run by a group of college students to teach the underprivileged kids in a town or any other plantation for social goodwill. Food distribution services during natural calamities and pandemics, initiatives to safeguard the environment, etc. can be easily done by these types of entrepreneurs. 4.           For-Profit Social Entrepreneurship: This type will be preferred by people with both a social care and a business mindset. These businesses focus on profits first but donate funds and raise awareness about any social cause. 5.           co-operative: This is not like the above-mentioned types; it is a union’s attempt to start a business that works for the members within that union. Community grocery stores and REI are examples of co-operatives. To become a social entrepreneur, you should have the following characteristics: •            Leadership quality is a must: These organizations could not function without the assistance of teams and groups. An inspirational leader is a must to support them in every cause and motivate them. •            Multitasking: In this field, you can’t drive in a single lane. More than motivating your team, you should also be involved in many activities. Only a multitasking leader could be sustainable for a long time. •            Working with a wide range of people and organizations will help you reach many heights, which will help you attain success in your initiatives. •            Make sound decisions because they may have an impact on people’s lives. Analyze the situation and make rational decisions to help people worldwide. Never confuse social entrepreneurship with business entrepreneurship. They are totally different from each other. If you are interested in knowing the difference between the two, you can click the link to have an overview.