Most people think that being free from debts is financial freedom, but financial freedom is much more than that. Money is a big fact in our life. Sometimes lack of money ruins marriages, breaks families, does not let people achieve their goals. Financial freedom is very important for our life.
Financial freedom does not mean to be free from debt. When you have enough money to bear all of your expenses and pay all of your debts, you are economically free. Here are 7 steps to financial freedom.
Your debt amount does not have that much relation to financial freedom, but when you want to be financially free, you need to pay all the debts. Debts are the burden on your shoulder that will not let you be happy. You do not have debts to pay means you have opportunities to save. When you are economically free, you can progress to be financially free.
One of the 7 steps to financial freedom that is important to advance is saving cash. Saving money contributes a lot to make you financially free. You can create a piggy bank so that you can save money easily and take money back in emergency situation. If you do not have some personal savings, you cannot easily tackle the difficulties.
3rd step is to have a family saving account from which you cannot withdraw money. It will give you some interest and it will contribute a lot in your life in future time. It acts as a support for you.
As you save some money you can make a mutual account as a low risk investment from where withdrawing money can be difficult. You should not keep all the money in an account from where you always withdraw money. If you do so, you will see some days later that you have withdrawn all the money.
When you make some personal savings, try to increase your current income. Your current income can be enough for you; some extra money adds some extra freedom to your life. Most people do not implement it as they want personal freedom of spending money. This is a must for financial freedom.
Along with your job you should make a source from where you get money without working. Investment can be a good choice. You can even win a lottery. If you have an extra apartment, you can get rent from that.
Internet marketing is a good way of earning currently. It is a simple plus to your income as well as your profile. There are lots of ways to have a passive salary. You can promote yourself this way as it is less complicated and more rewarding.
I am Dr. Garth Vickers desiring to help you to get rid of all types of financial troubles in your life. You can have help from my book The Wealthy State of Mind.If you are facing a challenging situation in your life, share with me. We may solve the problem together.
I’m a 7-figure business startup consultant, best-selling author of “The Wealthy State of Mind,” and international motivational speaker, with a passion for helping entrepreneurs achieve success in business. Using the methods I’ve developed from helping businesses achieve success over the past 10 years, the Entrepreneur Academy was born. Inside, entrepreneurs are taught the fundamentals of building a successful and profitable business based on real-world tactics that are responsible for generating millions of dollars in business profits.
