Growing up we've all dreamt of attaining financial liberation and financial freedom. Yes I know cos this was my dream too. I dreamt of retiring at a an early stage, own a luxurious house and car as well live a luxurious life.
Now the question that may rise is what is financial freedom.
What is financial freedom?
In my own perspective, financial freedom consist the following.
Breaking away from financial debts.
Retirement at a younger age.
Owning luxurious houses and cars. As well as
Living a luxurious lifestyle and not being watchful over your spendings.
Now haven known what financial freedom is, let's shift our attention to how to attain this point in life.
There are numerous ways to attain financial freedom. I will be sharing a few aspects with you. These concepts when applied successfully will lead you if not there but close to financial freedom.
Below they are:
1. Family Legacies
Some folks are lucky their parents have left them legacies. These could be in family properties or by way of a will. If you are fortunate to be in this category. Bear in mind that your family toiled hard to leave those legacies behind, and if care is not taken you could be the one to end the family legacy. Build your foundation from the family legacy direct and redirect the finances to lucrative ventures and monitor their yield. Where the dividends are not forth coming, take the capital from there and reinvest them in places that will yield higher results. When this is done, by the time you will hit your mid 30 you would have been on your way to financial freedom.
2. Take Control of Your Finances
It is one thing making money and another thing making good use of the money being made. You could make huge sums of money, but then you could squander all. At the end you will be living on what you earn. You wouldn't be in the position to save money for future use which is the key to financial freedom. As cost accounting will emphasize, always consider the cost benefit effect of all your engagements. This implies that the cost of an undertaken should not exceed the benefit that would be derived from that undertaken. Hence don't spend more than you earn. Always spend less than you earn. Then save the rest for future investment.
3. Get a career that best suits you.
Identify your passion and select a career that goes in line with your passion. This way you will love what you do. When you love what you do. You begin to do your best and this leads to specialization. When you specialise in your field, you will begin to get higher returns. This will help you cater for yourself and save for the future.
4. Take Absolute Control of Your Habits
Remember your habits can make you or unmake you. Take charge of your habits and be the driver of your habits. Habits that turn to consume your hard earned money in flash should be nib to the bud. Avoid spending on items that add less value to you. Remember a sacrifice today for a future reward should be entertained. Also learn to give more to those that immediately need your help. Lift people up and you could be building a team that will stand strong and firm in the near future. Diversify your funds to different sectors of the economy. You will have the chance to gain more financially. Don't be confided to one particular investment module. This would be tantamount to putting your eggs in one basket.
Source
In as much as these guidelines will help you to attain financial freedom, take the time to learn more on your on. Also you could further read more from
The Four Secrets to Financial Independence
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