If you want to live longer with less stress, you should work on your financial freedom plans in advance.
Having financial freedom has a meaning behind it which leads to being able to enjoy your life without any worries about money and financial status.
Being debt free is the main point in financial freedom.
Financial freedom is not just about spending money freely.
It is also about how to manage your monetary plans for today and your future as well.
It’s never late to start cutting extra expenses and start your financial freedom plans and focus on becoming able not to have any worrisome about your debt.
Feeling like a bird that can always fly freely is exactly the feeling you should have when you’re debt free.
The question here is; How can we control our financial plans to be always debt free?
The following is a list of my suggestions that can change your life;
- Have a proper saving plan;
- Downsize your life style;
- Cut off extra expenses;
- Plan a reliable income;
- Always have a plan A, B and C;
- Never give up.
Living without any financial worrisome is almost everybody’s future plan.
Some people ask at what age we should think about our financial plans.
The answer is; There is no age frame.
Most people think about their children’s future financial freedom and start saving from day one.
But, this works only if the parents, themselves are not in debt.
Otherwise, the problem will move on to the next generation.
Per example, when you’re in a plane and something goes wrong, the parents should put the mask on before assisting their children.
When you’re stable in your financial status, it will save your future and family as well.
In this article, I’m going to explain what is the financial freedom in a simple way.
Please make sure to read this article entirely, because I am going to give you a very simple financial freedom formula at the end.
It is the formula that you can easily follow and make yourself financially free.
How to Prepare Your Financial Planning
Having a right plan is the most important part of any project and now we’re going to start with our goal for financial liberty.
As your first step, you should write down the following;
- Net Worth.
Basically, you are going to look at your financial statement in order to be able to find the best way of solving your financial issues.
If you have a stable income, it’s very important to make sure that your income is able to cover all your expenses.
Therefore, with your stable income you should be able to save a minimum of 5% of your yearly salary.
Low income or no income is the main reason for any financial issues.
The debts are piling up so quickly within a very short time, you will find yourself in debt and have to pay lots of interest to cover your expenses.
It’s very important to think about the best way of making enough money to reach your financial freedom goal.
There are many ways to make money and all depends on your capabilities, skills, education and availability at the time you need it the most.
Having a nice house, expensive wedding, nice car, student loans and so on are the main reason for people to get into debts.
I’m going to help you with a few tips about how to reduce your debts and finally become debt free and enjoy your life in a better way.
Achieving Financial Freedom
How to achieve financial freedom requires a strong desire to start your plan.
The followings are the plans you should be consider in order to achieve your financial power
-Find a job that you like
Based on your skills, education and capability, you should try to find the right job that you like.
When you love your job, you’ll want to do more and will lead you to be an expert at your career.
The right key is to have experience and reliable income to lead you to your path of having a financial freedom.
It’s normal to start with a lower salary until you get enough work experience.
Try to minimize your expenses while you are a beginner.
Just a place to live, home made food and transportation expenses should be in your financial plan.
Cut of your amusements, partying, traveling, non necessary clothes and so on, for a minimum of one year.
If it’s possible, try to get a room mate, live with your parents or relatives for very little payment or free.
Try to gain as much as work experience as the company can offer you because it’ll lead you to a open door to a better financial freedom.
Pay attention into what your co worker is teaching you and remember every detail as needed because your memory will lead you to another door to help you move forward.
Ask as many questions as you can in order to learn more.
At the same time, look for other job openings for more experienced within your field of expertise.
That’s how you can build a stable income for your near future.
-Downsize Your Expenses
Another step to moving forward approaching your financial liberty is downsizing.
Downsizing means you change the way you live and cut off your expenses as much as you can.
When you have a big house with large mortgage payments, it’s hard to make the payments when you lose your job.
One of the best way of resolving this issue is to change the house into smaller one or rent it out.
You can save so much money by just downsizing your house and paying much less mortgage payments.
Shopping for less interest rate or longer terms is also another option.
Also, if your car is leased or financed with monthly payments.
You can just transfer the lease to someone else and get a used car for a while until you achieve your financial freedom.
If you already have credit cards or line of credits with debts, try to pay the minimum payments that at least covers the interest rates.
You can always shop for lower interest rates if you kept your financial score at the fair level.
Big wedding is almost everybody’s dream but if you don’t have enough saving for it, you are going to start your dream life with full of debts.
It’s not fun to start a new life with stress and worrisome about the debts.
However by looking for less expensive but reliable halls, photographer, stylist, DJ and so on, you and the guests can enjoy the party in the best memorable time.
-Have a Proper Financial Saving Plan
The next step to move forward to achieve your financial freedom is a proper saving plan.
By just cutting down your extra expenses, you’re already saving money.
For example, if you buy a cup of coffee in the morning with a toast or a bagel, it will cust you a minimum of $4.00 per day.
If you work 5 days a week, you will be paying $20.00 per week.
That amount will be almost $1000.00 per year.
Therefore, if you make your own breakfast at home, the cost will be reduce to $200.00 per year.
That was just a small example of how financial plan can guide you achieving your financial liberty within short period of time.
Try to have a tax free saving account that automatically transfers some fixed amount every month for you.
By just doing those small steps, you will get closer to your desired debt free life and approaching your financial goal.
-Always have your plan A, B and C ready
Student loan is one of the first debt that most graduate students are facing with.
Although, the banks don’t start charging interest for the first six months after the graduation.
But, in most of the cases, students can’t find a job right away.
Without having enough work experience, it’s hard to find the right job at the good company.
If you don’t have any income, other payments such as: hydro, rent, phone, food and so on, are not going to stop until you find a job.
You will be more in debt every day.
I do suggest to have your plan b which is to use what you have such as internet and try to make some money online.
You can spend just few hours per day working from home on your online business and start making money starting on your day one.
If plan b doesn’t work for you either, try to find any minimum pay job to at least pay off the bills until you find the right job.
Financial and Location Freedom
Nowadays, most of people want to work remotely and from home.
When you work from home, you save money on the gaz, car, car maintenance, and more importantly, time.
Having a reliable high speed internet is one of the ways that can help you get financial and location freedom.
What does the location freedom means in this case?
It means, you can work remotely from anywhere and have access to your employer’s network via online connection.
The other way of using the internet to achieve your financial freedom is one of the ways for making money online.
You can buy and sale products online and make lots of profits.
Online advertising is another type of online jobs which is very comment and pays well.
There are so many various ways of making money online in the comfort of your own home.
When you make more than enough money, then you will get your financial freedom achievement very quickly.
Time Freedom While Achieving Your Goal of Money Freedom
Have you ever heard of this expression; time is gold?
The description for this expression is that how to make more money within the shortest period of time possible.
Yes, time freedom is very important while your achieving your goal of financial freedom.
If you chose an online job in order to achieve your financial freedom plan, you already in your time freedom.
You know how much time we all spend every day going back and forth to work.
In average, we spend 3 hours everyday to get ready and getting to work back and forth every day.
Most of the work hours are fixed and you don’t have freedom to change your schedule that suits your lifestyle.
People with young children, especially single moms are the ones who are affected the most with a fixed schedule for work and her kids.
One of the best advantages of working from home and online is the time freedom and no fix schedule.
As long as the job is done, you’re good to go and work on your project at anytime you want.
Financial freedom in simple words
The few words that explains the word financial freedom is; how to live without any debt and headaches.
There are many organization who are expert in financial advice that can help you reduce your debts and guide you to manage your money to achieve your financial freedom.
However, you should never give up.
Always try to find the best way of living life with what you have and get the most out of it.
The life without any debt and having to continuously save up your money is the perfect way of living.
When you’re in debt, all your nervous system will be affected and you’ll feel sick and not want to do anything.
As you know, when a person is nervous he/she can’t think properly.
That will affect other organs of the body too.
Such as; blood pressure, cholesterol, diabetes, heart attack and cancer.
If you’re debt free, all you have to think about is the security of your job or income.
So, need an ongoing income that covers all the expenses easily.
It’s everybody’s dream to be their own boss.
Being your own boss is not as easy as it sounds.
You should have a management skills and be a risk taker as well.
Hardworking is the key for everything especially when you’re planning to have your financial freedom via your own business.
There are many ways that you can become your own boss and have a secure income.
You can use long-term investments and just get the interest for living.
Work from home and Online business is one of the most popular way of living nowadays.
Never give up to achieve your financial freedom
So, if you want to achieve your financial freedom within short period of time, you should never give up and try harder.
You have to be patient in order to achieve your goal.
It’s not easy to make money but there are many easy ways to be able to make money in easier ways.
Getting money may come very slowly and disappear in a blink of an eye but it is your job to control where your money is going.
The Best Financial Freedom Formula Ever
There is a common problem that prevents you from living financially free:
You don’t make enough money.
I mean your income is very low.
This is a very common problem.
Am I right?
Therefore, the first thing you can do toward achieving financial freedom is establishing a good source of income.
Maybe this looks impossible to you now, but I help my clients, followers and students to start their own online business and make lots of money.
This is what I’ve already done for myself and I can do for you if you want.
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