What is your concept of financial freedom? Ideally, in my opinion it means to be able to have enough money to do what I want to do, when I want to do it. I believe this is most people’s definition, too. Seems sensible, right? Think it over, if you could do something right now that would consistently generate money tomorrow with little or no continuous work, would you do it? I know my answer would be a definite, YES!
Getting under monetary burden is no fun. The worry, the fighting, robbing Chris to pay John, most of us have already been through it. Our relationships have suffered and so has our well being. Stress can be lethal so you have to do what you need to do to minimize it. Financial freedom may just be the solution.
Therefore, how does one become financially free? One of the best methods I know is having a source of recurring income. Do a little work now for the reward to come everyday in your mailbox or Paypal account. You could compose a book and get it published. If it sells then your recurring income would come from the constant sale of the book.
If you were a recording artist then your recurring income would come from royalties from your songs. A lot of people nowadays have turned to the Internet for their recurring income. It comes in the form of some sort of online marketing, MLM, affiliate marketing, article marketing and many more.
You could turn out to be very successful or you could continue to trudge along and never make much money on the Internet. I know someone who has been working his butt off for 8 years aiming to become an overnight Internet success story and he has not quite gotten there yet. He is on the edge of something huge, I think and may just make some considerable money this time.
Yet another approach to maintain your current lifestyle is to increase your net worth. This can be achieved by purchasing, fixing up, and maintaining income property or having investments that have worked out for you and perhaps have some money in savings. Providing you have the money you need for the things you want and the things you want to do then you’re financially free.
I saw a list once of how to obtain the freedom you want and I like the way the author put things in order but I do not necessarily agree with the order of them.
The author placed “giving” at the end of the list. Giving to those who are in need should never be put at the end of anyone’s list. It should never be the last thing you do, it should always be the first thing you do. Anything you do for another person will return to you tenfold.
The other parts of the list were fine though and they were, spend less than you earn have a budget and stick to it forever. Steer clear of debt, pay off and cut up those credit cards. Promise to yourself that you will only ever pay cash for anything you want. And as a final point, start investing and have some type of savings plan. The financial freedom you look for is just around the corner.
No related posts.