Financial freedom – what comes to your mind where you hear those words? Well, the term financial freedom means different things to a different class of individuals. For instance, a teenager may think of having his or her own room, well fashioned and stop relying on parents for money means financial freedom. Are you in retirement age? Maybe it means you will not have to work again. To the vast majority, financial freedom simply means living without worries when it comes to food and shelter. What is your take? Is there a definition that fits all the categories of individuals mentioned? Well, I have been thinking about this subject for so long. It is a difficult topic that will make ask a lot of questions.
However, it is a good subject because it makes you think critically about the most important things in life. I was not privileged enough to understand the importance of time early enough. As the years pass, I get older and now I can tell you how essential time is as an integral part of life. Let me tell you some facts here. You need time to focus on doing the things that bring you happiness. You need time to be with members of your household and friends. And more importantly, you need time to in order to appreciate the gift of life given to you by the highest God. Do you think retirement is the key to all these?
Financial freedom and retirement are two different things. many financial experts are of the opinion that being in a position to work at your own pace and enjoy the things you do translates to financial freedom. Life is has a lot to offer than simply waking up early in the morning to attend meetings or travel. In other words, being in a financial freedom state means that you are not tied down restricted to a job or a rejoin because of financial matters. It means doing a certain job because you really enjoy it, and you also live in the happiest place.
Mistakenly, many people hold the opinion that retirement comes with financial freedom. For this reason, they look at that finish line with a lot of hope. This is the biggest goal for them. How wrong! It is sad that many who think in that line are not in the course of attaining their retirement targets. Are you in this category of people? If you hold this opinion, then there a lot of changes that you really have to make.
To know where you currently stand, there are some questions that you need to ask yourself. For instance, how frequent do you spend time in your house thinking of how things will turn out to be if you leave your current job? Do you question yourself whenever you think of that one friend who seems to always enjoy his vacations? Do you sometimes think of disposing of all your possessions and start life afresh and somewhere else? Do you think of quitting your current relationship but fails because your partner is the sole breadwinner? Are there times when you wish you could have all it takes to turn your hobby into an income earning business?
If these questions are common in your mind, then you are miles away from financial freedom. Financial freedom is that state of not being enchained. You should live a comfortable life with all your fundamental requirements covered. You should be living in a very nice environment, a good house, a very wonderful job and on a fantastic salary with no consumer loans. You should be having an alternative source of income, such as a business that is on the right growth path. Money should not be the only thing that matters when it comes to financial freedom. You need to be free and happy with who you are and the things you want in life. If financial freedom is your goal, then you must be able to approach matters differently. Strive to be a different person from who you are today and avoid everything that holds you back from progressing. This should be a growth course and you must motivate yourself to move forward.
Is it a myth? Can you attain it? We want to assure you financial freedom is not a myth. It is something you can attain. You need to stay motivated and put in more efforts. Let us share some basic tips that can help you.
- Understand your current state. You cannot make a change when you do not know where you currently stand. Looking at the amount you owe, your lack of savings and the money you need can really be depressing. Nevertheless, it is something that will help establish your starting point. Even if the debt looks great, do not get discouraged because you can effectively pay them off without much struggle.
- Develop a positive view of money. A negative perception of money is a huge emotional obstacle you must do away with to attain financial freedom. A positive view of money will help you get other opportunities. You will perhaps open other doors than you think.
- List your goals. Establish your financial goals. Take 10 minutes every day to review them. Reflecting on them on a daily basis will give you the motivation to achieve them. Know exactly the things you want to attain to remain inspired. At the end of each goal, write how you intend to achieve it.
- Program each day early in advance. This is the best way to deal with matters. Make sure the night before you take the time to plan the following day. You will become precise and sharper at all your undertakings. This will also help you track your expenditures. Decide what amount you intend to spend on a weekly basis and start saving.
- Ask yourself important questions frequently. Before going to bed, ask yourself such questions as, “Did I do anything wrong?” and “what did I do right?” You can also ask yourself “Is there anything that I need to do differently?” Reviewing the things you did wrong and what you need to approach differently will keep in the right place to be better off. Make sure you learn from the things you do every day.
- Surround yourself with people who think positively and respect your decisions. If you associate with friends who only see financial freedom as a myth, you will make poor decisions. They are going to affect you and you really need to avoid that. On the other hand, people who share your dreams will motivate you to approach matters positively.
- Cut your spending. If there is something you can do without, do not spend on it. Instead, save that amount. This will help you have some money for the purpose of your financial independence. What is more, you will discover that you do not too much in order to survive.
- Pay your debts. You cannot be financially independent if you still accumulate a lot of debts. Being enchained by debts is so distressing. Devote any extra amount you have to debt payment. It is expensive to live in debts. The amount of interest you pay can help you in a large way. Do not substitute debts. Once you pay off a debt, start attacking the next one right away. If you feel overwhelmed by debts and you want to check the ideal loans for you, visit Loan Advisor to find the best rates online. Imagine how encouraging it can be when you see your end month balances increasing! You will feel inspired to keep growing it.
- Supplement your income. Look for ways of earning more. If overtime has compensation at your working place, consider it. You can also look for part-time jobs if possible. You wisely the amount you earn from your part-time job.
Conclusion
Financial freedom is something you can achieve. It is not a myth as many people think. You only need to acknowledge your current status and start working towards improving. In this blog, we have shared some basic tips that can help you. Endeavor to use them and you will see positive results. Thank you.
