Financial freedom means that you get to make life decisions without being overly stressed about the financial impact because you are prepared. It is much more than having money. It’s the freedom to be who you really are and do what you really want in life. And many of us, (especially women) lose site of this by putting others first and playing many different roles.
If you want to be financially-free, you need to become a different person than you are today and let go of whatever has held you back in the past. It’s a process of growth, improvement and gaining spiritual and emotional strength to become the most powerful, happy, and successful “you”. That is the real reward of financial independence.
Many people want to be financially free but only a few actually achieve that financial freedom they long for…
We all want to have enough money so that we never have to worry about money again. The BIG question is, “Are you in for it or not?”
Yet, the good news is that there are more people achieving financial freedom faster today than ever before. Through proper financial planning and making it a goal to improve your personal finances, you can become one of them too.
You need to control your finances instead of being controlled by them. The path to financial independence isn’t a get-rich-quick strategy. And financial freedom doesn’t mean that you’re “free” of the responsibility of handling your money well. Quite the opposite. Having complete control over your finances is the fruit of hard work, sacrifice and time. And all of that effort is worth it!
ARE YOU READY TO CLIMB THE LADDER TO BEING FINANCIALLY INDEPENDENT? ALRIGHT, LET’S UNLOCK THE 10 CODES OF FINANCIAL FREEDOM
1. Begin To Think Positively About Money: Part of becoming rich involves thinking positively about money. Thinking negatively about money is an emotional obstacle that you must eliminate in order to achieve financial freedom. You must eliminate the thoughts that having more money leads to evil or that money can’t buy you happiness.
When you begin thinking positively about money, you will attract opportunities and open up more doors than you ever thought possible
2. Set Financial Goals For Yourself:
Write, rewrite and review your goals on your notepad every day and think of how you will accomplish them. This will take you some minutes. The very act of writing and rewriting your goals, and thinking about them each day before you start off, will increase your chances of accomplishing them.
Financial goals don’t just happen. You make them happen. This step requires you to assess where you want to be five, ten and twenty years from now and answer some big questions, such as where you want to live in retirement and when you want to stop working.
One tip is to visualize what your life will be like 10 years from now if you do everything right. Most people’s goals are more realistic, such as keeping up their current standard of living in retirement (with maybe a few upgrades), preventing any financial disasters, and having the freedom to do the things they love, such as spending more time with friends and family.
3. Plan Every Day In Advance: Planning is very essential in everything we do. In fact, prior proper preparation prevents poor performance.
The very act of planning each day, each week, and each month in advance will make you far sharper and more precise in everything you do. You will find yourself with better focus and a greater sense of self-control and personal power when you work from a list.
When you plan every day in advance you will be better able to control and track your spending habits as well. Plan how much you have to spend for the week, the month, the year and decide where you will be able to save.
4. The Principle Of Concentration: Concentrate single-mindedly, every hour of every day, on the most valuable use of your time.
The principle of concentration is absolutely essential to achieve financial freedom. Virtually everything you do in terms of goal setting and financial planning is aimed at enabling you to determine the one or two things that you should concentrate on more than anything else.
Your ability to develop the habit of concentration will do more to ensure your personal finance success than perhaps any other skill or habit you can acquire.
The things you focus the most on and spend the most time doing should be in direct alignment with your financial goals. Spend your time focused on what will make you the most money.
5. Invest In Yourself: Listen to successful people, especially those in your discipline, then you can become one of the most knowledgeable and most skilled persons in your profession.
Purchase courses on money management, read books on personal finance, and find articles online about money.
Very soon you will have so much knowledge in the area of money that people will come to you for advice.
6. Rate Yourself With Questions:
Ask yourself these questions after every meeting and every event of importance in your life. The first question is, “What did I do right?” And the second question is, “What would I do differently, next time?”
By reviewing your performance immediately after every meeting, sales call, and presentation, you will become better and better, faster than you can imagine.
The answers to both of these questions are positive.
By reviewing what you did right and what you would do differently next time, you program into your mind a predisposition to be even better the next time out.
If you take a few minutes and write down everything you did right and everything you would do differently immediately after a call or presentation, you can double and triple the speed at which you learn and grow and improve in your work.
Improving yourself and your quality of work will, in effect, improve the money you make.
7. Be Generous To Others: The point here is to treat everyone you meet like a special customer. Treat every single person, at home and at work, as if they were the most important person in the world.
Since everybody believes that he or she is the most important person in the world, when you treat them as if they were, they appreciate your recognition and acknowledgment more than you can imagine.
It is a proven fact that being a more generous person will help you attract more wealth and become a happier person
8. Discover Your Location: Before you start worrying about where you want to go, you first have to figure out where you are now. In this step you’ll create a net worth statement, which is essentially an honest measure of your current wealth. You do this by tallying up the value of what you own (your assets) and what you owe (your liabilities). When you subtract your liabilities from your assets, you get a number that represents your net worth. Your net worth statement is an important tool that charts your financial progress over the years. For instance, if your net worth is going down, you’re eroding your wealth and making it harder to achieve your goals. If it’s increasing, you’re on your way to getting richer and achieving your financial goals.
9. Track And Adjust Your Spending: The key to building a strong financial plan for the future is to understand how much you spend and save right now. This is called tracking your cash flow, and it can give you a sense of control and confidence that makes it easier to make financial changes in your life.
“The part most people dread is taking a really close look at their expenses,” says Mizgala. “But don’t put it off. Successfully managing cash flow is your key to financial control. It will give you an awareness that has more long-term value than anything you can invest in, buy or sell.”
The point of the exercise is to find out whether you finish each year with a cash surplus or a cash deficit. This number will tell you about your general financial shape. A surplus means you’re living within your means, while a deficit shows you’re spending more than you make. If you have a deficit, you will have to cut your expenses (or increase your income) to achieve any financial spending
Look closer, are your expenses higher than your income? If so, you’re living beyond your means. You’ll need to adjust your expenses accordingly so you don’t go further into debt. This step is not about punishing yourself. If you’d rather eat out four times a week than purchase an estate in 10 years, that’s your choice. But you owe it to yourself to be honest about what you’re doing so you’re not wondering why you can’t reach your financial goals.
If you decide to cut back, there are some less painful ways of doing it. Consider cutting out one major expense completely.
10. Write Up A Will: Every adult who owns assets and has a spouse or children should have a will. An accurate and up-to-date will is the only way to ensure your assets will be distributed the way you want them to be. If you don’t have one, you’re letting the laws in the province you live in make those decisions for you or family conflicts. And if you hold the belief that your spouse or children will automatically inherit everything—you’re wrong. (Research more about that depending on your country and culture)
WORK CONSULTED
Julie Cazzin ( 11 steps to financial freedom)
Brian Tracy ( The 7 point formula for financial freedom)