Achieving total financial freedom may not be easy as you might have thought. It means bringing yourself into that kind of a financial position that will enable you not to worry about money. If many people longed for it, then not many people achieved it. Nowadays, the story is a bit different and more people achieve financial freedom at an earlier age. There are a lot more millionaires today, and they have become that with good financial planning. What we want to say is – it is possible.
It is possible to increase your output, performance and productivity by a half percent each week. If you manage to do it, and continue doing it for four weeks, you will be two percent more productive than the month before. Increase the income, decrease the expenses, and deal with your debts. These are some of the steps you will have to undertake if you start pursuing the total financial freedom.
An Hour For Yourself
Wake up every day an hour before your first appointment or work start, and dedicate this time to yourself. It will majorly set the tone the rest of the day’s course. If you, for example, read about 50 pages of a book per hour, and you will manage to read about 50 books per year. Reading will help with the increase of output, performance, and productivity.
Change Your Plans And Stay On The Course
Write down all of your major goals. Then review them. Spend at least 10 minutes every day trying to think up of new ways of accomplishing them. The very thinking about them will increase your productivity. Plan your days to come. Every night before you go to bed, think about what you will have to do tomorrow.
Learning On Wheels
An average person spends a lot of time driving. Have you ever thought of using that time better? Get audio cassettes, turn the stereo on and turn your car into a university vehicle. You can become more skilled in your profession, by listening to these audio programs, and increase the efficiency of your everyday efforts.
But what to do regarding money management? We all have money saved on more than one place and various drains in our budget (bills and credit cards). One must track a lot of moving parts, and spending can be kept under control with certain mobile or online tools. Your financial life will be simplified with BillGuard (app that tracks your bills and, if it comes to suspicious charges, sends you an alert), Mint (a budgeting app that helps you stay on budget), and School Easy Pay (an online service that enables you to pay tuitions and other school-related expenses in whole in 10 equal installments).
Cut The Expenses And Start Saving
By reducing expenses and living frugal will teach you how to take better care of yourself and will save you money. Start buying generic instead of branded things, watch out for discounts and good deals, and buy in bulk. By buying only what you really need, the amount of trash you produce will also be reduced. Do not spend money on different treats, but be satisfied with what you have. Otherwise, you might even end up in more debt. Put your shopping gear away for awhile.
Income Increase
It is something that you should certainly try doing. By increasing your income even a little bit will make the process of debt eradication much faster. Find a part time job at a fast food restaurant, an office, or as a freelancer. There is a wide range of job offers in various areas of work, so start searching and googling if you are seriously up to it.
Debt Budget
What you owe and how much to pay on each debt is what this budget is there to tell you. Take the surplus from your budget and transfer it to the debt budget, and know that this money is important, for it is what actually gives you financial freedom. Place minimum payments on all but the highest interest debt, so to eliminate it first. Other debts will get reduced quickly.
With your skills set being brought on a higher level, productivity and performance being gradually increased, and all debts eliminated, the surplus money can then be put into a savings account. You’ll have convinced yourself that living frugal does not mean not living in abundance. Financial freedom is at the reach of your hands.