My goal was to get out of student loan debt and save for my first home. When I achieved financial freedom, it was because I tied it to an emotional goal. Write Down Your Goalsĭo you want to get rid of debt for good? Are you desperate to escape the 9-to-5 grind? Is there a place you’ve always wanted to travel to? Do you need to save for a wedding, kids, or retirement? To experience financial freedom, you’re going to need to look at money as a tool to help you achieve your dreams, fuel your energy, and live a stress-free life you can enjoy.īecause if you view money negatively, you’ll subconsciously sabotage your chances of making it and keeping it. It helps you buy the things you need and live the life you want. Money is simply a necessity like food or water. Sincero has said about money, “ We use it everyday to enhance our lives, yet we always seem to focus on the negative about it. Many feel guilty for having it and guiltier for wanting it. And so the biggest obstacle that many people experience when it comes to making money is that they feel like having money is bad. You deserve to achieve financial freedom.Īccording to You Are a Badass at Making Money by Jen Sincero, people who don’t make a lot of money often feel shame when it comes to making money. Look at Money Positivelyĭebt can definitely be a little bit discouraging.īut remember that money is a good thing, even if it seems to carry a lot of burden right now. Keep these numbers in mind as we work through the next few financial freedom tips. Then we’ll add the recurring monthly payments you receive such as salary, side hustle money, and so on. Next, take a look at all the money you have saved up.Ĭompile a list of all your savings: savings accounts, stocks, company stock-matching programs, company retirement-matching programs, and retirement plans.
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If it’s a small number, congratulations! Feel free to share your financial freedom tips in the comments below.
If it’s a big number, don’t freak out, I promise I’ll share some ways to pay that down later in this article. Don’t forget to include any money you may have borrowed from friends or family members over the years. But this is a valuable step in the right direction.Ĭompile a list of all your debts: mortgage, student loans, car loan, credit cards, and any other debt you may have accumulated. Looking at how much debt you have, how much savings you don’t have, and how much money you need can be a depressing reality. You can’t achieve financial freedom without knowing your starting point. 10 Game-Changing Financial Freedom Tips 1.
It’s also about planning your long-term financial situation by actively saving for a rainy day or retirement. It’s about recognizing that you need more money to pay down debt and maybe increasing your income with a side hustle – we’ll get to that in just a minute. And you aren’t burdened with a pile of debt. You aren’t worrying about how you’ll pay your bills or sudden expenses. You have a dependable cashflow that allows you to live the life you want. Financial freedom is about taking ownership of your finances.
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