So what is it that allows some people to achieve their dreams while others can’t seem to get out of their own way? The answer is very complex but one thing is very clear. William Shakespeare said it best: “Where there’s a will, there’s a way”
Some things that may help you in your quest to get your mind under control and gain the financial freedom that you seek:
Write down your goals…visualize them…repeat them in your mind. Have a plan…how are you going to achieve your goals? Have realistic expectations: success takes time.
Learn from your mistakes…better yet, don’t call them that, they are stepping stones on the journey to financial freedom. Along the way, don’t forget charity. Be prompt and organized with your paperwork, keep it flowing. Make a will, update it regularly. Take responsibility of your affairs and those of your loved ones. Once a year, write out a personal financial statement. Resolve to make it better every year. Avoid divorce, in other words, choose your mate very carefully as your happiness and financial freedom are intertwined with your mate.
When implementing these 9 Steps to Financial Freedom, some things may be less obvious than others. For instance if traditionally you are a poor saver, buying a house can be viewed as a forced saving plan. With each payment you are building equity towards your financial freedom. Also, the less debt that you take on during your working years, the more you can sock away for your retirement years.
Another benefit that I like to take comfort with is this: most financial authorities will tell you you need to have 3 months to 6 months of income set aside as a reserve in case of an emergency. Well if you are paying yourself first, that will happen automatically and you don’t have to spend any time worrying about emergencies.
Finally, if you choose a simpler lifestyle, you will be spending less which usually means you can invest more…now when you get to retirement age, this less extravagant lifestyle that you have been living by means that you will require less to keep on doing the things that you enjoy! At last you have reached financial freedom. Congratulations!