5 Top Tips To Achieve Financial Freedom And Be Debt Free
In this article I’d like to share with you 5 favorite and top tips to achieve financial freedom and be debt free.
Being in debt is one of the big pitfalls that many people out there fall into, and really limits their personal perspective in life.
Most people are fully dependent on debts to upgrade their life style.
That’s the illusion that they buy into, because the cost of debt is pretty expensive not in terms of interests, but on your freedom.
a great percentage of debts goes on liabilities like, cars, cloth, watches, television, that’s people live their rest of their live slave debts.
The reality there are not slave to debts, but to their emotions, and their mind. The decisions came from you, and you only blame you’re by taking it.
Debts are useful if you know how to play with it.
Debts are sort of leverage by investing in something that will make you some passive income, and using to work for you not working to it.
It’s just a mindset shift about how you need to perceive debts as a way to multiply your cash flow to reach financial freedom.
If you’re still working on a job, and you’re in financial gutter, this blog post will the insights that you need to get out from this place.
So, without being said, let’s dive into 5 tips to achieve financial freedom and be debt free.
Tip #1: Accept your financial situation
There’s no way to whine and complain, what happened, happened.
Instead of being angry, upset and complaining all the time, save your energy to come up with a plan how to get out from this rut.
One last nugget before we jump to the tip 2, all your past spending behaviors stems from thinking, and your mindset.
Tip #2: Shift your thinking about money
All our decisions come from the quality of thinking. Poor thinking provides poor results, and vice versa.
As we grew up, we built a kind of mental map, based on a lot of components: your family, your parents, school, experience and that has a direct affect in our thinking, and you blueprint money.
If you’re struggling with money, the first job is to get rid from the negative outlook on money, and start seeing it as tool that will bring prosperity and abundance in your life.
Tip #3: Track your expenses
Reading stuff has a large influence in your mind, on its configuration and the way how you’ll start to behave. In life we are influenced by what we know.
Information is not the ultimate power, is a potential of power if you do something about it, and you apply it in your life.
Tracking your expenses is one of the powerful and simplest habits that will allow you to be more aware of your spending behaviors and knowing where the money goes.
You can’t change something if you’re not aware of the issue, and this is the main objective of tracking.
The reason why the best athletes stay in the top of the staircase is because they have metrics, and they’re tracking them every single day.
Also tracking will allow knowing the unnecessary stuff you’re spending money into, so you can cut them out, and take this money to invest it in yourself, save it, or pay off your debts.
Tip #4: Start an online business
I believe that financial freedom doesn’t come by working in a job or any work where you’re trading time for money.
You need to build a vehicle that will produce some passive income even if you’re not working.
One way you can do that is to build an online brand, delivering value to people, solving their problems, and making money while you’re sleeping.
There are many business models you can follow to like kindle publishing, Amazon FBA, affiliate marketing to make some passive income that will help you to achieve financial freedom.
But there’s nothing powerful that building your online business, and that’s the reasons why:
- I’m in total control of my business, and so, my income.
- It can sustain for a long period of time as long as long as you’re working on it, and growing it.
- There is an emotional association to you brand, which will allow creating some authority in the marketplace, and being able to stand in front of the competition.
Tip #5: Invest money instead of saving it
Should you save money or invest it? Both are great but it depends where you’re at financially.
If you’re struggling right now, working in a job and you’re desperate for money, I don’t think that saving money going to solve your problem.
In this case, you need to have some money left over to invest in your education, and a vehicle that will generate potential passive income to be able to get out from this rut.
After you pay off all your debt, and your online business is doing well, meaning you start making some money, then it makes sense to start the process saving it.