Get A Hold Of Financial Freedom With Just 7 StepsEveryone wants financial freedom. Everyone yearns for it the same way everyone wants to save money. But where do you start in this journey? It's a simple process but it needs your patience and dedication if you want to succeed. Here are 7 ways that you can start and get to the end of the road successfully.
These are just 7 simple steps that you can follow towards financial freedom, always remember them when you are out:
1. There must be a desire to change as a start. You would want to improve your finances and situation right? then think about your present situation and how you are managing it, your attitude towards spending and money. Is you cost of living way too much ahead of you? Now think about ways on which you can improve yourself and how you handle your money and properties, it can help if you relaise you have flaws that needed to be changed? Then write about it in short statements on why you want and need to change.
2. Assess your current lifestyle and situation. How is your job? Is it paying you well? How much do you spend each month? How much do you save each month? Do you have debts you need to clear up? Do you set money aside for medical emergencies, or just emergencies, how about retirement, your kids funds? Evaluate yourself honestly and don't hold back, take your time.
3. Set your goals. This is one of the most important things, you must have a goal, an objective no matter what it is. You are doing this for yourself and for the people who matter to you. Ask yourself what you really want in life, not related to money. Create a wish list of the things you want in times to come, make your partner do the same thing and share them. It's important that you and your partner are in the same page when it comes to managing your finances so it's easier to help each other out.
4. Identify your options. List some things, even people who you think can help you towards financial freedom. Write down everything you can think of and then skim through it later. Find out which ones can be available to you, which ones you can use and which is reachable.
5. Select the ones in the options which you think might work for you. one method is not as effective to everyone. Think about the things which are important to you when picking it and then mark all the ideas that sound good to you. Then compare your options against the goals that you have listed. Compare that to your wish list. Do they sync? Is it possible to unite these?
6. Now you have your options, work on it. Words without actions are a fool's doing. Now you have written your options, so start turning paper into plans and into reality. What steps you should take? Put in in order of time. Start within 24 hours after you have formulated your plan so that you can start building some momentum. Include anyone, and all your resources that you think can help you with your plan. A financially responsible plan that you can also include is the 70:20:10 principle. Meaning, the 70% goes to daily living, the 20% you need to pay off debt and then the 10% goes into your savings.
7. Time to work on your plan and then monitor the progress. If you need to write it down just for comparison later then do so. This way you can learn to measure up and determine which works best for you. you can check those milestones as you go on your way to financial freedom. Make adjustments, repeat steps if necessary. Stay focused.
Now you have the 7 steps, it's up to you to make the first move and change your financial situation. You are now in control, do your best to make it work for you and your significant others.
by: Andrea Carless