Financial Independence = Current Personal Wealth, generating enough Income over one's Expenditures to cover the basic necessities & lifestyle.

Financial Freedom = Is beyond basic necessities & lifestyle. It is primarily, 'what one wants to do with one's Money'.

Financial Independence # (does not equal) Financial Freedom

Income > Expenses = Asset Creator ➡ 'Master of Assets'

Expenses > Income = Liability Creator ➡ 'Master of Slavery'

Assets create more Assets.

Liabilities kill Income & create more Liabilities.

"Financial Independence + Financial Freedom = A happy & a fulfilling Money Life."

Note: Expenses include any recurring tied up payments (EMIs, Unnecessary Insurance Premiums etc...).