As you begin to start on your journey to financial freedom, one of the things that you will discover if you have not already is that there aren’t a lot of people who are going to support your efforts. You may have shared your dreams with others and receive responses that will surprise you.
Why that many individuals seem to be against your dreams to obtain financial independence? The reason why that is because the steps required for reaching financial freedom is too uncomfortable for most people. Most people would like financial freedom. However, they value security much more than freedom. As a result, they give up on their dreams of financial independence for the security of a safe, secure job with benefits.
Security and freedom are not the same. They are very different value systems. Like if you want to make money, you can securely make money, by getting a job, or you can make money in a freedom way, by starting your own business.
Starting your own business is a very freedom way of getting rich. However, you give up security. As a business owner, you are free to decide what you want to do when you want to do it and how you want to do it. For example, if you’re going to take two hour for leisure instead of one hour, you can do so, and there’s nothing anybody can do about it for you. If you prefer to work two to three days a week and take the other days off, as opposed to working the whole week, you can do so.
Once your business reaches a certain level, you will be able to receive money, regardless of whether you show up to work or not. However, this freedom comes at the cost of security. As a business owner especially at the start, you are not guaranteed any amount of money. One month your business can bring in a large amount of money and then the subsequent month, your business brings in a fourth of what you brought in the previous month even though you did the same thing in both months. Also, if you experience challenges, the money your business did make previously can be quickly taken away from you through your commands, fines, and mismanagement.
The large number of persons that you encounter has a secured mindset. That is why it is essential for you to seek out people with a freedom mindset to encourage you on your financial journey.
Economic troubles have made people more afraid to think about what their futures may hold. Most people barely make enough to maintain a decent living, so the thought of attaining financial security for the future as many of them working extra jobs and investing money to prepare. Some people fail to realize that there are things they can do immediately to aid in their needs.
The Faster and Sooner, the Better
If you want to attain financial security for your future, don’t wait. The sooner and faster you start; the better off you will be in the long run. If you save a percentage of your income monthly, in an interest-bearing account, you will see your savings grow in a matter of time.
Your Savings Is a Bill
Learn to handle your savings account as a bill. Just as you wouldn’t pay any of your expenditures late or skip the payment, don’t skip your savings deposit. Once the money is deposited, act as if it is not there. This can be very challenging to do, especially if you like to purchase. However, the benefits, in the long run, will be worth the sacrifices that you have to make in the present. Skimping on how much you spare now, can inevitably affect your financial security in the future.
Distinguish or make differences to Your Portfolio
If you have investments, allocate them so that they are more beneficial to you in the long run. It makes no sense to sink all of your money into one venture. If you start at an earlier age, you have room to take some risks. Put some money in investments that will grow and some in investments that will produce income. This is one of those situations where you should see variety as the spice of life.
Family obligations and planning
If you are married, it is imperative that you and your spouse work together toward achieving financial security. You both should be paying into your savings. You and your spouse should sit down and go over your expenses to see where you can make cuts and changes to how much money you are putting out, as well as how much you are both bringing in.
Waiting until the last minute to start preparing for the future is a moot point. The one mistake that people make is that there will always be time. It should be seen as, the more time a person uses to prepare; the better off it will be when the time comes. There are no such things as being to develop when it comes to finances.
Financial security is one of the things that are not promised to anyone. It is solely up to you that when the time comes that you can no longer work; you can take care of yourself. If you start now, you can make a significant change in what your future holds. No matter what time you are starting at, something is always better than nothing. Getting a good job is a very secure way of making money. When you have a job, you know that after a given period you are going to get a certain amount of money. Yearly or so, your money is increased a certain percentage if you do a satisfactory job and if you can learn additional skills, you can get a promotion, which can increase the amount of money you take home. However, this security comes at the cost of freedom.
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