One day you've seen a tree has been 10 feet long than previous day. How would you feel?
I must say, you'll feel uneasy, you'll feel nervous, you'll feel disturbed. Because, that has broken the natural law.
Same thing applies in human life also. Who have been financially free in their life, they followed the natural laws. If not, something was wrong there. If you try to break the natural laws, that'll make the society disturbed. And you'll not be able to enjoy happy life.
1. Set target: Ask yourself, in what age you want to be financially free. Choose a length of time of 5 years, 7 years, 10 years like that. Calculate a possible time duration that you'll be financially free within. Set a target year as calculated. Suppose, you are 35 years old now. You choose 5 years time-duration to be financially free. That means you want to be financially free at an age of 40 years. So your target year is 2018. At the end of 2018 you will be financially free.
2. Focus: You set 2018 as your target year today. After one month or after two months or after two years, if you forget your target year, then there is no use of setting target. You'll never be financially free.
Constantly focus on your target. Work every single day for achieving that target. Review your achievement at the end of every month.
3. Earn: All of we earn money. Some serve in a day job, some do business and some do freelancing. Students, who don't do any job, they also earn money from their parents as pocket money.
That isn't the fact. The fact is, how much you have to earn to live a daily life and also to achieve you target?
Here comes the calculation point which I've told about in "set target" section. On the basis of this calculation you can select your time duration that may be 5 years or 7 years or 10 years.
But, you have to find out your talents. You've to find out your ways to earn more so that you can live your life and achieve your target in the selected time duration. Don't worry, as your experience gains, your earning will be increased.
4. Save: Setting target, focusing and earning, all three are created for saving purpose. No matter how much you earn, if you don't save, you won't be benefitted from that money.
Whatever you earn, keep a percentage of that aside for saving purpose. Don't neglect little saving, that'll be huge someday.
5. Invest: Saving should be done for investing purpose. If you just save, that'll not give you any benefit. Invest your savings.
6. Re-invest: Profits coming from investing should be re-invested. Whatever happens to your life, don't try to spend your savings and interests from savings. We always have a tendency to spend savings if we face a small problem in our financial life. Pretend, you don't have any savings if you fall in this type of situation. If you need, you can maintain an emergency fund for handling that type of situation.
At very initial stage of your financial-freedom journey, pay your debt (if any) completely. Because, if you have debt, you can't fully concentrate on saving. Belive me, that won't work.
YOUR TURN:
What's your plan to be financially free? Please share in comments.
I must say, you'll feel uneasy, you'll feel nervous, you'll feel disturbed. Because, that has broken the natural law.
Same thing applies in human life also. Who have been financially free in their life, they followed the natural laws. If not, something was wrong there. If you try to break the natural laws, that'll make the society disturbed. And you'll not be able to enjoy happy life.
6 Natural Steps to Be Financially Free
Below are 6 natural steps which must make you financially free -- Set target
- Focus
- Earn
- Save
- Invest
- Re-Invest
1. Set target: Ask yourself, in what age you want to be financially free. Choose a length of time of 5 years, 7 years, 10 years like that. Calculate a possible time duration that you'll be financially free within. Set a target year as calculated. Suppose, you are 35 years old now. You choose 5 years time-duration to be financially free. That means you want to be financially free at an age of 40 years. So your target year is 2018. At the end of 2018 you will be financially free.
2. Focus: You set 2018 as your target year today. After one month or after two months or after two years, if you forget your target year, then there is no use of setting target. You'll never be financially free.
Constantly focus on your target. Work every single day for achieving that target. Review your achievement at the end of every month.
3. Earn: All of we earn money. Some serve in a day job, some do business and some do freelancing. Students, who don't do any job, they also earn money from their parents as pocket money.
That isn't the fact. The fact is, how much you have to earn to live a daily life and also to achieve you target?
Here comes the calculation point which I've told about in "set target" section. On the basis of this calculation you can select your time duration that may be 5 years or 7 years or 10 years.
But, you have to find out your talents. You've to find out your ways to earn more so that you can live your life and achieve your target in the selected time duration. Don't worry, as your experience gains, your earning will be increased.
4. Save: Setting target, focusing and earning, all three are created for saving purpose. No matter how much you earn, if you don't save, you won't be benefitted from that money.
Whatever you earn, keep a percentage of that aside for saving purpose. Don't neglect little saving, that'll be huge someday.
5. Invest: Saving should be done for investing purpose. If you just save, that'll not give you any benefit. Invest your savings.
6. Re-invest: Profits coming from investing should be re-invested. Whatever happens to your life, don't try to spend your savings and interests from savings. We always have a tendency to spend savings if we face a small problem in our financial life. Pretend, you don't have any savings if you fall in this type of situation. If you need, you can maintain an emergency fund for handling that type of situation.
At very initial stage of your financial-freedom journey, pay your debt (if any) completely. Because, if you have debt, you can't fully concentrate on saving. Belive me, that won't work.
YOUR TURN:
What's your plan to be financially free? Please share in comments.
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