Having financial freedom it’s good, it gives the chance to do great things as a person. But the sad truth is, it’s not meant for everyone, only if you have the formula to acquire it.
- The steps are not difficult to implement to get the results.
- It’s not limited to geographical location even if you’re from Africa or western countries.
This formula is applicable to anyone anywhere.
As far you can put these written words into practice on a daily bases to enjoy a fabulous life.
In fact, this is the same process those who are known as rich people of today followed, and are still following to achieve their wealth.
Also, these are the same thing they all preach according to my research.
In this article, I’ll show you EXACTLY;
- What is financial freedom?
- What it means to achieve financial freedom.
- How to achieve financial freedom.
- The step-by-step guide gives you the working formula which is important for men and women at any age of 10 years old and above.
Here are the practical steps for you to follow in order to achieve financial freedom.
But before we move further let’s first have an understanding of financial freedom. Now let dive in.
What is Financial Freedom
A lot of different definitions have been said about financial freedom.
But here is a simple definition
Financial freedom is when you have abundant investment bringing in money with a robust bank account, making expenses a mere thing to you, and you’re able to live the life you ever dream of any day at any time.
What Does It Mean To Achieve Financial Freedom
It means a lot as it helps in making you work less and earn big, making you capable of achieving any opportunity that comes your way.
Benefit Of Having Financial Freedom
Some say or believe that;
- Achieving financial freedom is bad.
- And not worth working for.
But that’s bad, that’s why I want you to know the benefits so as not to think as they do.
Because It won’t really make sense to be willing to and still don’t or fully know the benefits of financial freedom.
If you don’t know the benefit you’ll still take it for granted even if you’re willing to become someone who wants to achieve financial independence.
But when you know the benefit. Your heart will trigger you to remain disciplined to do every formula that will make you achieve financial freedom in the end.
Here are the benefits of financial freedom.
1. Limited struggle.
Financial freedom can give you the privilege of not working till the end of time.
Even if you’re to work, it will be less stressful which is enjoyable.
- Eg: Signing documents to receive millions of dollars.
- Doing total calculation while others do the work, as a Manager, Boss, Accountant. e.t.c.
- Counting the total income you earn in your different business sources every day.
And not only that, financial freedom help business avoid struggling, and collecting unnecessary debts that burden the heart which can make the business owner end up bankrupt.
2. It gives happiness
You might ask can financial freedom makes me even happy? To tell the absolute truth. Yes, it can make you happy in life.
But Poverty can’t, but rather worsen the matter. It’s because of poverty people steal, prostitute, kill innocent people, and all sorts of bad things you can ever imagine in this life.
Assuming they are people who are rich they won’t be bothered to steal $10 dollars when they have $10 million with them.
3. Accomplish a great thing
As they said the rich will always become richer, while the poor will only be getting poorer.
This is not a curse, it’s a normal thing because the rich have enough capital to invest to bring in more money to their bank.
And they operate with high-frequency knowledge. That’s why the rich and the poor are different.
One’s you have achieved financial freedom lifestyle you’ll be able to invest in big things that can drive in more huge money from different sources.
And from there you’ll become richer day by day till the end of time when you go to heaven to continue the enjoyment.
4. You will be fearless to invest
When someone has abundant money, he or she won’t find it challenging to invest whatever comes across him/her.
This is a golden benefit of financial independence.
But if you have low capital and thinking to invest, you won’t be able to go ahead when you remember you’re the one feeding your family and you also have to pay others’ expenses.
For this, you won’t dare to take that risk of losing. You will love to play save, to avoid complicated life, as your family can’t live without eating food.
That’s why it’s important if you are still young, you should focus to become rich in life.
Marriage is not pizza. You will only fully enjoy it when you have money.
5. You will be the owner of your Time.
Everyone loves a freedom lifestyle.
- Going out and coming in freely.
- Taking decisions for themselves.
- Buying whatever they want.
- Eating what hungry them.
- Feeling great all day and all time e.t.c.
And while doing that, let money still keep flowing into their bank account.
All this is possible when you have financial freedom, that’s what it can do for you. It can remove you from working for wages for hours to hours.
This time it will be the money that will be working for you. And other people working under you to make you richer.
6. You can invest in others
Money makes money. Since you have enough capital with you.
People will always remember you bringing in business opportunities that will help job seekers get a place to earn a living, at the same time it will bring in more money to your pocket.
When this offer comes to you. You’ll have the money to invest in the business.
And one’s this business offer is suitable that can yield in good fruit (more money), then that’s more money to your account.
When more business offer investment is given to you, you’ll be getting richer day by day.
7. Debt-free life
When you have money, nothing will make you borrow money from others, but only if you’re the type that doesn’t live within your means.
By being financially free, Instead of borrowing money from people, you’ll be the one lending people money.
And in return, you will be getting interested, which is the profit from the money you lend out.
In the end when you accumulate it times those you have given, it equals to high profit in return.
8. It makes your children have a clear future
No human on earth is worst, it’s due to lack of finance or insufficient fund that’s limiting them from their dream and giving them an uncomfortable and worst life that they don’t dream of.
By having financial freedom which is having more than enough, your children will have the opportunity to further their self to their dream and accomplish whatever money can accomplish.
9. It removes tension
It helps to remove any form of tension in life. For example:
- What to eat.
- What to drink
- Where to sleep.
- Children’s school fees.
- Tax and any other things you can imagine.
10. You can empower your relative
The worst sickness is that there should not be a person in a family or lineage that is rich.
That’s really bad, to be honest.
For they will be no one to help when anyone among them encounters an issue or want to accomplish things.
One’s you are financially free you can be able to empower your relative, making their life’s better and their dream come to reality just by helping them from the start to their greatness.
I believe you now understand the benefit of why you need to have a financial freedom life.
It’s now the right time for you to know how to accomplish the financial freedom life you have ever dreamed of.
Method To Have Financial Freedom
After finishing the section and understanding the importance of achieving financial freedom.
In this section, you’ll learn the ways to now achieve it.
Step 1: Live a contented lifestyle
There is no other formula to achieve financial freedom if you’re not first living your life in a contented way.
Why? because you won’t be able to save money to invest in the present and in the future time.
Anyone who lives contented is able to gather funds for themselves.
To live such a life. You need to do the following which are:
- Maintain yourself: If you have to live a contended life. You have to take care of your health. Live right and do things that won’t implicate your health.
- Spend less: You should try all possible best to spend less and avoid repurchasing what you already have before, or purchasing what is above your income or savings.
- Track expense: Jolt down how you spend, in order to know whether you spend less or high to find a way to reduce the expenses.
If you did not track your expenses, you won’t know when you’re doing it wrong.
As a starter jolt down in the handbook, it is the best and easier to go through. Then later, you can make use of a money tracking app device.
If you follow the above-mentioned, you’ll be able to live a contented life which is a great help to achieve financial freedom.
Step 2: Start Saving Money
After knowing the ways to live within your means and following the steps.
If you’re the type that;
- Has a plan to open a business in the present or later in the future.
- Has a career to pursue.
- Has a dream.
It is only money that can make it come to pass in life.
Without saving now, it is impossible to have funds to invest in whatsoever you want to do, now and later.
It is money you can use to hire those who will build, promote, and speed the gigantic structures of the business, career, dreams e.t.c.
You can’t use a greeting, smile, huge, begging to do those things.
At times is challenging to save money. Expenses will come to consume the money, especially if you’re the type that is not a pro at saving.
To save effectively;
- Set a sure strategy plan to stop what will eliminate you to save.
- And If the plan is still not working out, rethink the strategy to solve it.
Once you’re able to save and cover up expenses, it shows it’s now working.
Even if the saving is small it doesn’t mean, we start from a place, gradually the money will become huge.
- It is better to be keeping little than keeping none.
But if you can’t still save. You’re still not adjusting to living in your present level.
Truly, If still it seems impossible no matter how hard you try to cut down expenses. It’s time you should add an additional side hustle to it.
Who knows, it might be the source that may even transform your financial status entirely like the way it’s happened to all these people.
Here are methods to make additional money.
- Ask for a rise: I don’t know your relationship level where you’re working. If they like you for your performance. You can ask for an increase in your salary. They can agree if they wish because you can’t control their actions, but to some, they won’t agree to your request. If the job is too bad that no matter how you try to save, it’s always impossible. You can find other jobs. But don’t first leave when you haven’t found one. As you’re searching for a new job make it better than the first one. What’s the essence of working where the pay is the same?
Teach your skills: If you’ve any skills people will love to learn, you should find a way to teach them. You can lower your price to attract customers fast to you. People love cheap things. As you’re just starting out, lowering the price will be helpful to get clients. Then later you can increase your lesson fee when you’re well known. You can also teach your skill on YouTube.
- Online business: If you have a current job or business, add online business as a side hustle. At least it won’t take up your time but fetch in money aside as you’re working. A good example of online business is blogging, YouTube, affiliate marketing, and others not mentioned here
Step 6: Write a goal plan to achieve financial freedom.
Nothing is good as when you have goals written down. If you avoid this step you’re somehow bound to fail.
Because were no vision people perish.
Now, write all that you’re planning to do in the present and future to ensure you achieve financial freedom.
Both short-term goals and long-term goals. For example;
- I want to save for this month – short time goal.
- I want to start a little cloth business with my savings and later extend it – short time achievement and long time growing process.
- I want to have a cloth company in my early 50 years – long time goal.
A write-up like this will give you the zeal to be serious, letting you know where you are now and where you’re heading in the future.
Step 6: Invest your money.
If you now have enough funds in your hand or account. You should start investing in a sure business that will yield fruit.
When I say sure business, am talking about physical business, not gambling.
Once you now have more than enough. You can invest in other important and highly profitable one’s like;
- Real Estate.
- Stock market.
- Business Company.
The honest truth is: Financial freedom means having more than enough money.
And to have enough, you need to have more additional sources to make the money.
For a dream cometh through the multitude of business, and a fool’s voice is known by multitude of words.
Remember two are better than one.
As you’re investing in one business also think to open another in different locations.
The living Bible also proves this you can’t deny it. These are the things God people to bless a lot of people.
Let’s take a look at popular mark Zuckerberg for example;
He is known to have more financial sources. He further bought WhatsApp and Instagram.
You can’t hear any billionaire of today that have one source of income.
Step 7: Keep learning, understanding, and implementing
You need to keep reading for refreshing and adding more knowledge to your brain on wealth.
This will help you to know the rules of wealth to achieve more in the end.
As they say, knowledge is power.
Without this you can be shooting in the dark, thinking that you’re walking in the right steps.
But unknown to you, you’re really walking in the wrong part which is bad for an individual.
Step 8: Maintain your wealth
Some after successfully achieve financial freedom.
- They become boastful.
- They start spending money in an improper way.
Before they realize it, everything would have been wiped out to zero or they have wasted a lot.
I know and pay for you that by grace and constant practice you will get there.
But when you have now achieved it, put it in the back of your mind to avoid negative attitudes that will ruin you down to zero (poverty).
- For example, popping money into the club.
- Spending unnecessarily.
- Purchasing what you don’t need.
- Spending more on liability instead of assets.
- Living an expensive lifestyle and a lot more.
Live within your means at your present level, and also teach people how you do it.
Financial Freedom Conclusion
After reading, the greatest of them all is to start taking steps to obtain financial freedom.
But note, it not going to be easy, sometimes you might feel like giving up, being stressed out, and even having secret tears.
But don’t get bothered about that.
It is your financial stability you should focus on, so next time all those old things you experienced in the past will be gone forever.
I hope you find it helpful. If you’ve any contributions or have questions, I will love to hear from you through the comments section.