A Brief History
Today, everyone dreams of being stable and safe enough to make big decisions without worrying or stressing over the outcomes of it financially; it takes a lot of dedication and smart habits to achieve this level of freedom. Millions of people worldwide struggle to reach this point because they failed to attain certain healthy habits or plans, so it is important to learn about the different methods of achieving financial freedom.
What does it mean?
It means you own your finances, having a cash flow that makes you live comfortably and make any decision you want. You will not worry about not having enough for bills or other important expenses; the beautiful thing about it is that you aren’t carrying the burden of huge debts too. You basically achieve a way to get a steady income that makes you save for rainy days and retirement plans, but you would still have the ability to do or buy whatever you like without any possible financial consequences.
Have passive income sources
This is one of the best ways for you to earn money by doing minimal effort, allowing you to relax or focus on your day job but still get money randomly from not doing much. One of those ways is through forex trading; the possibility of earning passive income from this market is attainable without directly participating in trades yourself. You can do this by acting as an investor and receive dividends from your initial investment funds. This market is one of the biggest when it comes to investments, so if there’s a way to gain some money from it easily then you should do it without hesitation.
Writing your goals helps
You need to set a specific target that you should achieve; it does not have to be one goal because you have different phases in life, so the goals will change over time. Also, if you started to tie your targets to emotional goals, then you will most likely achieve it quicker because those emotions and passion will motivate you and give you the strength you need. Strong triggers and emotional ties can make your road to freedom a lot more achievable; eventually, you will notice that you’re achieving those goals without noticing. This happens because your mind is wired now to achieve what you’re motivated and passionate about.
Track your expenses and income
This is important because you need to get an overview of how much you are spending vs. how much you are making; you should be putting some money aside when there is a need for it, giving you a chance to pool in your money for savings or paying off debt. Some people might be spending too much and more than what they are making, so they need to take care of other important expenses first before they can focus fully on entertainment purposes. This might be difficult to do alone, but there should be apps that can assist you in tracking everything related to your finances.
Have more than one stream of income
This is one of the secrets that rich people teach their children; you should not rely on one source of income in your life, because it is not enough to reach the freedom you need. Not everyone could land a 7-figure paying job, but you can reach 7 figures eventually when you find other ways to make money. This does not mean that you have to work 3 different jobs a day, but it means you should be focusing on different lucrative investments at once. They have to be safe and reliable at the beginning, giving you the push financially to try different ones that have higher risks but bigger rewards to earn.
Seek help from experts
If you are completely lost and have no idea what to do next to earn more money, then getting some insight and advice from financial advisors can be your ticket to success. They would have the knowledge and experience to know which financial plan is best for you; they would look at your income and figure out which decision you should make to take yourself to the next level of freedom, which is your legacy and what you are leaving behind. This would be the highest level of financial freedom that anyone could dream of.
Some people think that this is something impossible to achieve, but that is not true at all, you just need to follow specific tips that worked for others in the past. Learning from people’s success stories can mean a lot for your financial goals, so remember to stay calm and do not complicate things; it can make a huge difference in your life.
Question for students (and subscribers): Are you concerned about your financial future? Please let us know in the comments section below this article.
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For more information, please see…
Fitzpatrick, Jonathan. Passive Income: The Holy Grail of Financial Freedom: The Side Hustle Blueprint to Learn How to Make Money Without Being Actively Involved. Independently published, 2019.