- Independence Day
If you are dependent on your husband, a member of your family or the government, then you are not in control of your financial future and your well-being. The first thing you have to decide is if you want to be dependent ... or independent.
If you choose to be dependent, I suggest you keep your fingers crossed and wait and pray so that there is something there for you on the way, because if you have chosen to put all your financial life and your future into the hands of another person, then I would say that you are the best player Good luck!
- Imitate the people you have as an example of success
One feature that women with financial freedom have in common is education, and I'm not talking about a school. It does not even matter if you finished high school, since I still have to find a traditional school that teaches you money skills in the real world.
So, where are all the independent women who find their financial education? There are millions of books, seminars and online resources that offer a wealth of information about money and investment.
Start reading, attend workshops and pay attention to business stories in the news: your financial education will be a mix of those more real experiences.
- Make a plan
Ask yourself: What do you want to achieve financially? First and foremost, my financial strategy is based on the concept of cash flow. As an investor, there are two things you can invest in: cash flow and capital gains. What is the difference?
Capital gains. Purchase one share for € 20. Then you sell that action for € 30. The profit you get is called capital gains. Or buy a property for € 150,000. In two years you sell that property for € 175,000. Your earnings of € 25,000 are capital gains.
Cash flow. You buy a part of the share that pays a dividend. You cling to that action and every year you are paid a dividend. That dividend is called cash flow. Or buy a property of € 150,000 and decide to rent it. Each month you receive the rent, pay the mortgage and other expenses and, if you have managed the property well, you will earn profits every month. That benefit is cash flow.
- Start small
Do you remember how I mentioned the real world experiences in the education section? With almost everything in life, there is a learning curve. You must know that you will make mistakes along the way, so start with small steps.
Which brings me to step 5 ...
- Invest only a little money.
At some point you must act. You can read all the books you want, attend seminars throughout the day, research opportunities on one side and on the other, but if you do not put in a little money and get into the game, you will never see a change in your financial life.
A simple action that you can take is to investigate several shares of the companies in which you have interest and buy only two or three shares of a company. Your intelligence regarding the stock market will increase immediately if you pay attention to what is happening with your actions on a daily basis.