I truly believe that we are all spiritual beings in a material world, and to achieve “success” in this material world, you have to be able to beat the “money game”. How do you know you’ve beat the money game? You’ll know it, when money doesn’t affect the choices you make in your life anymore. I think the most important financial goal you’ll ever set in your life, is the goal to become financially free (unless you don’t believe in the physical confines of this world of course), thereby allowing you to do what you want, when you want, with whoever you want,wherever you want to! So why DO you work right now? To pay the bills, to get out of debt, to save up for a retirement (otherwise known as relative financial freedom) in 10, 20, 40 years? Why can’t we have that now?
Within the last year, I have learned 4 keys to becoming financially free sooner than you could ever think possible. Each key on its own is so so simple to do, you just have to put it into practice to the best of your abilities…the better you practice these keys, the faster you will reach your financial goals. Each one of these steps I could write an entire post on…if you’d like to further discuss these following topics in more detail, just let me know!
1. Simplify Your Life
So many people live WAAAAAY beyond there means! Or like to have toys to play with once or twice and never use again. Then all these impulse possessions create clutter in your home and a hole in your wallet (or purse lol). If you can really learn to live within your means (nothing on credit!), declutter your home and simplify your life (buy only what you need, including “Fun” items from time to time which we talked about a few weeks back – click here to read), you can make life so much easier for yourself and much more peaceful. I love this topic so much that I think we’ll go into it deeper soon!
2. Increase your Working Income
The quickest way to start building towards your financial freedom is to increase your ‘”working income”. Working income is the income you receive for the time you spend earning it. If you work a “9-5 ‘er” job, it’s your hourly pay rate. If you run your own company then it’s the income after taxes that you keep. There are many ways to increase your working income…ask for a raise, get a part time job (as long as you still have time to pursue your passions too), educate yourself to be worth more to your employer, try to expose yourself to more potential clients everyday! Working income by itself is powerful, but when combined with our next step, is exponential!!
3. Create Passive Income Streams
This is income that you can earn in your sleep. Anything from owning vending machines to contracting out work while taking commissions, to setting up your own franchise. This will help grow your nest egg so much faster than simply relying on working income alone. So now that you have all of this money with your working and passive income adding up together so fast, what do you do with it?!…
4. Make Your Money Make You More Money
When you start to notice all this money sitting around in your bank accounts, it’s great practice to leverage that money to help you earn even MORE money! Investment doesn’t have to simply mean the stock market, as we all know it’s rough waters out there these days, you can invest in real estate, low risk GIC’s, or mutual funds, anything that will help multiply these funds!
With these 4 simple steps, you can achieve financial freedom faster than you could ever have imagined. Even if you think you don’t make enough money to invest, you’re too old to start a passive stream of income or you’re not smart enough to invest…you don’t have to know it all to have it all and you can start from any situation in your life! There are trained professionals in each field that can educate you and help you get to where you want to be…Oh, and there is one more key that isn’t included in the 4 here but is the absolute crutial to EVERYTHING, and that is, taking action NOW! I’m not saying to make unwise decisions with your finances…think hard and act quick…start growing your money today so you can start doing what you truly want to later today!
Thanks for letting me share my passions with you! I’m so excited to see you all become financially free! Also, I appreciate all of you positive feedback and comments you’ve been sending! Remember, in life, it doesn’t have to be perfect now, but you can start right now!