Saturday, October 6, 2012

Achieving Financial Freedom Is Possible In Five Simple Steps

By Juliette Cruz


Achieving financial freedom is the dream of every man, and here man does not refer to the masculine being but all human beings. With financial freedom, you get to tour every destination you want without caring about where to get the money. You are also able to take your kids to the best schools in town and teach them that their really is nothing impossible.

Contrary to what many people think, you do not have to wait for say, 30 years to achieve your dreams. With proper procedures, and strict adherence to the set objectives, your dream is attainable even in 3 to 5 years period. There is no point of setting 30 years of achieving your dream when you are not even sure that you will be there in those years. But the big question is how to attain your dreams of monetary emancipation.

Patience is key if you are ever to succeed with your goals, as well as going through a stepwise process. Setting clear goals which you want to achieve in a particular period of time is the first thing you need to do. To achieve your main goal, you need to develop clear objectives which are attainable, realistic and smart. The reason most people fail to achieve their dreams is because they do not have any concrete life desires. Therefore, your goal must be specific and not just vague.

The second step is finding extra activities that help you earn extra income. You should engage in projects that augment your current earnings. The internet is your first stop when looking for part time jobs to boost your income. You can get writing jobs on part time basis as well as others. Apart from the internet, you could also look for other jobs in supermarkets, restaurants and even odd jobs like cleaning. The extra money you earn can be used for meeting your expenses, which leaves your main income to go towards investment.

As you are earning more, you need to think of ways to cut back on what you spend every month. Just be simple and frugal and spend only when it is necessary. By carefully spending, you also learn survival skills in addition to saving some cash. Spending tips include buying generic types instead of branded goods, and you will realize how much you can save.

The next thing is to really have a tight spending policy. It is mean and lean people who succeed more financially and not wasting money on things like treats. You need to resist the temptation of buying hot trendy appliances but learn to be contented with what you have. Otherwise you will find that it is quite difficult to stick to your objectives.

Lastly, there is need to have budgets that direct you on how you spend. Budget helps you to list down all your income sources and incomes, and help you determine what disposable surplus you will have after spending. It is able to know to know and plan with your surplus income.

Achieving financial freedom is very possible with strict discipline. Following the plan to the very end is a must. It is the hard way but the only one if you are to realize your dreams.




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