3 Steps To Financial Freedom

QUOTE OF THE DAY

3 STEPS TO FINANCIAL FREEDOM

530 Words | 1 Min 53 Sec Read

“Money doesn’t buy happiness." - Person with Money

They aren’t exactly wrong; what's closer to the truth, however, is that having money isn't everything, but not having it is.

When you don’t have money, it becomes the source of pain and anger, and it also becomes the lens through which you see the world.

'Oh, how much did that cost?’, ‘That must have been expensive’.

When we don’t have it, every single one of our problems revolves around it; it's the centre of what we do and why we do what we do.

When you become financially free, however, you will no longer make every decision solely based on money; you get to live life for what it is, and money will live it with you.

Financial freedom is a state where money is no longer the problem, no longer the main stress factor in your life, and no longer the thing niggling at the back of your head.

So, is there a quick fix to this?

No, unfortunately not; however, the principle is so simple that it can be broken down into a few steps.

Step 1: Planning and Analysis

Financial freedom isn’t achieved when you have as much money as you can possibly have, because if that were the case, there would be no such thing.

It would be like a never-ending loop of chasing money into your grave.

True financial freedom is having an abundance of money and squashing the common misconception that it's all subjective.

Your financial freedom may not be the same as someone else's, and that's why you need to first plan.

Plan for what you consider financial freedom. The way to do this is to design your dream life. What car do you drive? Do you own a house? Where do you live?

And then write out all of the monthly costs for this dream life. Be as specific as you can, down to how much money you would spend on food, coffee, etc.

Don’t rush this process; let it take its time, as this is the future you’re planning right now.

Now that you actually have something to aim for, instead of just ‘as much money as I can make’, you can structure everything to aim for a certain amount.

Step 2: Your Vehicle

The next step is finding the vehicle that's going to get you to hit your financial freedom goals, and this is all very individual, so instead of giving you a half-assed explanation here, check out this full article on how to find the vehicle for you.

And then come straight back.

Step 3: Investing

“It’s not about the money you make; it’s about how much you keep"—some  very rich people

Investing is important in your financial freedom plan because your vehicle will only carry you for so long, and I'm going out on a whim here assuming that you don’t want to work for the rest of your life.

If that's the case, then you need to start investing the money you make from your vehicle in other vehicles that will continuously work in the background.

We will leave this bit to the professionals; check out this video.

ACTIONABLE NEXT STEPS:

You can get started right away by creating your own financial freedom plan that incorporates everything you want in your dream life.

If you want some kind of template to help you do this, let us know, and we will create one for you.

BOOK OF THE WEEK ⤵️

The book of the week is ‘Peak’ by Anders Ericsson, a book about the science behind how to hit peak performance and become the best you can possibly be using various methods and principles. Read it HERE

CREATOR OF THE WEEK ⤵️

LESSON OF THE DAY ⤵️

People will criticize everything they can so they don't have to face the thought of changing themselves, their mind, or their actions.

Once you accept this, truly accept it, you remove one of the greatest limits to reaching your potential: caring what other people think.

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