JOYS OF FINANCIAL FREEDOM; ENTREPRENEURS GUIDE

 

One goal that we all have in common is that we all want to make more money. However, only a small percentage of us actually achieve the financial freedom we long for…

We all want to have enough money so that we never have to worry about money again. The only question is, “Are you ready to do it or not?” The good news is that there are more people achieving financial freedom faster today than ever before.

Through proper financial planning and making it a goal to improve your personal finances, you can become one of them too. The Points Formula For Financial Freedom

Here is a seven-point formula that you can use to help accumulate wealth, become happier, and achieve financial freedom in the years ahead.

1. Begin to Think Positively About Money

Part of becoming rich involves thinking positively about money.

Thinking negatively about money is an emotional obstacle that you must eliminate in order to achieve financial freedom.

You must eliminate the thoughts that having more money leads to evil or that money can’t buy you happiness.

When you begin thinking positively about money, you will attract opportunities and open up more doors than you ever thought possible.

2. Plan Every Day In Advance

Plan every day in advance. The best time to do this is the night before.

The very act of planning each day, each week, and each month in advance will make you far sharper and more precise at everything you do.

You will find yourself with better focus and a greater sense of self-control and personal power when you work from a list.

When you plan every day in advance you will be better able to control and track your spending habits as well.

Plan how much you have to spend for the week, the month, the year and decide where you will be able to save.

3. The Principle Of Concentration

Concentrate single-mindedly, every hour of every day, on the most valuable use of your time.

The principle of concentration is absolutely essential to achieve financial freedom.

Virtually everything you do in terms of goal setting and financial planning is aimed at enabling you to determine the one or two things that you should concentrate on more than anything else.

Your ability to develop the habit of concentration will do more to ensure your personal finance success than perhaps any other skill or habit you can acquire.

The things you focus the most on and spend the most time doing should be in direct alignment with your financial goals.

Spend your time focused on what will make you the most money.

4. Be Generous to Others

This point is to treat everyone you meet like a million-dollar customer.

Treat every single person, at home and at work, as if they were the most important person in the world.

Since everybody believes that he or she is the most important person in the world, when you treat them as if they were, they appreciate your recognition and acknowledgment more than you can imagine.

It is a proven fact that being a more generous person will help you attract more wealth and become a happier person.

We’ve often heard it said, “money doesn’t buy happiness.

5. Save to invest

If you were raised middle-class like me, you were most likely taught to save money for a rainy day, keep funds tucked away for emergencies, or to put your money away to buy a house, car, or two-week vacation in Hawaii.

The problem with this is that once you spend the money, it’s gone. The money that you saved to buy the house or car is worth less than it was the day after you spent it. The same way your house and car depreciates, your two-week vacation in Hawaii is an experience that will fade from memory over time. When it comes to savings, there is no light at the end of the tunnel; the tunnel just ends.

Self-Made Millionaires Know How to Save Money

Self-made millionaires develop the habit of regular saving and investment from an early age.

Here’s the deal, though:

Human beings are creatures of habit.

We very quickly adapt to almost any external condition or circumstance.

If you save 10% off the top of your paycheck, and discipline yourself to live on the other 90%, you will soon adjust your lifestyle downward slightly so that you are quite comfortable on the lesser amount.

In no time at all, living at this level becomes a habit and you stop thinking about it.

Many people are deeply in debt and the idea of saving 10% of their income, off the top of each paycheck, is too difficult for them even to consider.

Tips to Save Money

In this case, which is quite common, I recommend a gradual process of learning to save money where you begin by saving 1% of your income and living on the other 99%.

For example, if you are earning $2000 per month, make a decision today to save $20 per month or $.67 cents per day.

You can then live on the other $1,980. Save money in the long run by going down to the bank and open up a separate account, your “financial freedom” account.

Money that goes into this account only flows only one way- inward.

Once you put money into this savings/investment account, you never, ever take it out or spend it for any reason.

It has only one purpose: To enable you to achieve financial freedom as soon as possible. Once you have become comfortable living on 99% of your income, increase your monthly savings rate to 2% off the top. Within one year, you will find yourself living quite comfortably on 10% of your current income. Continue this process until you are saving 15% and then 20% of your income, off the top. You will not even notice the difference in your standard of living because it will be so gradual. But the difference in your financial life will be absolutely extraordinary

See Yourself As Deserving Of Money

Sometimes people say that they are not very good with money.

But being good with money is a skill that anyone can learn through practice.

Usually, saying that one is not very good with money is merely an excuse or a rationalization.

The fact is that the person is not very successful or disciplined with money.

The person has not learned how to acquire it or to hold on to it.

The starting point of accumulating money is for you to believe in yourself.

You have an unlimited capacity to obtain all the money that you will ever need.

Look at yourself as a financial success waiting for a place to happen. And see yourself as deserving all you can acquire.

Take Action!

Here are two things you can do immediately to put all of these ideas into action:

• First, recognize and accept that virtually everyone who has money today at one time was broke and probably broke for a long time.

Then they learned the skills of accumulating money and they are now financially independent.

Whatever they have done, you can probably do as well.

• Second, become a student of money from this day forward.

Study it, learn about it and apply the lessons you discover toward your own financial life until you begin to attract more and more money in your direction.

Name: Onyia Jude 

State Code: OS/20B/0067

Discipline: Psychology