Safe strategies for financial freedom
Safe strategies for financial freedom mean, in a nut shell, staying as debt free as you possibly can. You cannot control what the Fed does with interest rates or what Opec decides to charge for a barrel of oil, nor can you snap your fingers and create more money, but you can control what you do with the money you have.
By living within your means and not using credit cards for things you really do not need and can not afford, you will achieve true financial freedom.
That is something that many people struggle with, especially at the start of the process to become free financially. They think that they need certain things or they need to do certain things when in reality these things are only wants not needs.
One of the first safe strategies for financial freedom is to figure out what is really important and what you really do not care that much about. This can be downright difficult.
I know people who can not afford to pay their rent but they will go out and buy the latest and greatest cell phone. This phone can do so many things, it is really cool, but do they really need it? No, they NEED to pay their rent.
Now if they were running a huge corporation where they needed to stay in close contact with people all over the world, then maybe they would need that phone but they only just want the phone because it is cool. Well, who wouldn't love a cool cell phone?
Those are the types of tough decisions you have to either be able to make now or teach yourself to make if you really want to be free financially.
If you take a long hard look at your budget and honestly assess what areas you have that you can make cuts, you can probably free up a bit of cash each month and you can use that either for debt repayment, or start a savings account, or learn to invest it wisely.
If you choose to pay off some debt then you can take this money you have freed up and apply that to paying down that debt. It's really simple, you just make a list of your debt and single out one debt to pay off. Then along with the minimum payment for that debt, you would add the money that you have freed up and make an even bigger payment than you normally would.
By doing this, you will be able to pay off that debt much more quickly than if you were only making the minimum payment. After a while you will have paid off that debt completely, then you can take the money you were paying on that debt and apply that to your next debt. Keep doing this until everything is paid off completely.
The safe strategies for financial freedom reviewed in this article are simple but proven techniques for having more control over your finances, and that is the only true financial freedom there is.
TAGS: safe strategies for financial freedom, financial freedom
Article Source: Messaggiamo.Com
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