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financial freedom

Financial Freedom


Absolute financial freedom is what every single human being wishes for. However, most fail at their attempts to be free of their financial burdens. This is because to truly and be financially free to do what you want requires sacrifice. Sure, you may see some people who get rich in a few months or even days. However, these get rich quick schemes are only good short-term.

You need hard work and sacrifice to enjoy financial freedom until after death. You need to learn and revamp your thinking and lifestyle. Achieving absolute financial freedom can be summarized into five steps. These are as follows:

Be Educated

An ignorant man cannot make a wise decision. If you want to make more money, learn how it works. Perhaps you think that you earn too little ever to gain financial freedom.

Perhaps you are one of the hundreds of individuals convinced that being in debt is natural. Maybe you believe that money is evil and shun expanding your wealth. These are the common misconceptions rampant in today’s society. No matter how small your income, you can always find a way to break out of debt.

Money is not evil. It is merely a tool. The way you obtain and use this tool all depends on you. Find out how great men and millionaires got their first million. Read more about financial literacy and the rules governing it. Increase your appetite for financial literacy.

set goal, make plan, work, stick to it, reach concept presented on blackboard with color notes and white chalk

Set Your Goals

Do you want a new house? Perhaps you want to live comfortably in your retirement. Maybe you just wish to get out of the debt you are in. Whatever your goal is to make sure you know why you want it.

The reason for setting your goal is more important than how it is achieved. If the reason for your goal is flimsy, challenges arise when you are filled with doubt and discouraged. You might feel that achieving your goal not worth it. If you have a more substantial reason for setting a goal, you will persevere. As the adage goes, “If there’s a will, there’s a way.”

Clear Debts

Have you been swamped with debt lately? Are you restless at night thinking about your credit card bills? To be financially free, get rid of the excess baggage. Slowly pay up all your old credit. Do not accumulate any new debt. If you are tempted by the 0% interest ads in the shopping malls, leave your credit card at home.

Better yet, cut it into pieces and throw it out. Meet up with your creditors and arrange a settlement. Be honest and sincere in your promises. If you promise to pay a certain amount on a certain date, follow through. Who knows, your creditors will see your earnestness and forgive a part of your debt.

Protect Yourself

So you have achieved the seemingly impossible? You are now debt free or at least experiencing a regular decrease in debt. Good for you. Now the next step is to protect yourself. Invest in a good healthcare plan if you have not yet already. If you don’t have life insurance, get one now. You need to attend to this especially if you are the sole breadwinner.

Increase Cash Flow

This step is essential in achieving freedom from your finances. Increase the flow of cash into your life. Invest in the stock market. Remember to invest in the stock market and not to trade. Trading is reserved for those more knowledgeable in this. If you are just starting out, consider investing in mutual funds. Passive income is a preferred mode of increasing cash flow.

Make use of all you have learned about finances. Act. Nothing will come out of your financial literacy if you simply read it but do not employ it. With these steps, absolute financial freedom is within your grasp. Be patient and consistent. Never give up on your goals. Learn to think and dream big. Soon all your hard work will be paid off. Soon your dreams of absolute financial freedom will be realized.