Bollywood Fashion Sports India Beauty Food Health Global Tales Facts Others Education & Jobs Cricket World Cup 2019 Scinece & Tech

20 Steps to Financial Freedom

Finance and financial aspects are considered to be a crucial and important part in every person’s life. Although it is not everything in life which we understand from our moral and spiritual journey but still the divisional factors like assets, wealth and property helps you to remain secured and continue through the tough times for attaining freedom. Let’s have a look towards the steps for the financial freedom accounting the other necessary factors as well.

You Might Also Like: Highlights of the 2019 Union Budget

Blueprint for wealth –

It is very important to answer the question that what is blueprint to wealth? Generally in very short blueprint is the creation of a habit within your system which will build a mindset of creating wealth. Success blueprint are nothing more or nothing less than that, if you follow a proper patterned blueprint an independent statement can be made that the wealth is going to come to your way and it is going to generate in its very own fashion.

The key will not be the twenty steps which will be shared eventually rather than that it is the implementation and consistency towards achieving the freedom blueprint. Generally the ongoing social and communal mindset decides our habits or nature which generally turns out and results as our second nature.

Short declaration of few steps towards financial freedom –

The secret to wealth is hereby mentioned in these twenty steps mentioned below.

  • Firstly realizing that our own thoughts are nothing except the pre formation of a product or thing and act accordingly.
  • Our mind is situated and persists at a wavelength which is nothing other than radio transmission. We do receive signals and accordingly reject or accept it with the process of releasing.
  • Every possible aspect or substance is in a constant state of motion, when the light falls on that it becomes visible to our eye. Finance works in the same function.
  • The subconscious mind fills in the blanks and makes way as well keeps space for the thoughts to come in for future progress which is also true for financial aspects.
  • The persons we surround ourselves with, we become one like them. So gradually in the upcoming years the thought process of one person depends on how he or she socializes.
  • Properly searching and seeking to the personalities, whose lifestyle influences us and we want the same for us. Then gradually spending time with them and adopting their mindset.
  • There is a common rule that what we appreciate, that appreciates us back. So devote time to appreciate the small details and things.
  • A standpoint in your financial independence where enough of your passive income can pay up all your monthly bills.
  • Through different phases of life never stopping and always asking ourselves that what our truest passion is.
  • After deciding your passion then figuring out that what are the problems which get solved through the medium of it.
  • The next step comes as organizing systems or creating them which will serve our passions in future.
  • Rather than the procedure of problem solving it is much more important to serve those problems in a beneficial way.
  • Solving all those problems will result in increased income which will help you to sustain even after 5 years of retirement.
  • Mostly it is desirable to choose your path as a distributor because in the vertical market the most amount of profit are made by them only.
  • In midst of the changes taken by system for distributing and solving, understanding the difference between money and time is authoritative and that must result in the segregation of money and time separately.
  • A payment of 20% from the profits amount as a weekly check will be generous of you to act upon.
  • Lastly deposit money automatically into investment accounts will be a good strategy to save some extra amount.

Except the above there are also some other ways by which you can attain a successful financial freedom account. Those processes are mentioned below.

A net-worth mindset and successfully tracking the net-worth –

Along with the other important factors like investment returns, savings rate, debt to income ratio which has a driving importance in optimizing money but on the other side single handedly the other crucial factor is tracking the net worth. After subtracting the liabilities from the assets net-worth helps you to measure the total money which you are worth of and accountable for. Irrespective of the income that you are making whether it is much or less definitely you should have a focus on your net worth.

Tracking the money flow –

We often make expenses which we don’t remember later on. So the bills like for studies, loans, food, clothes, and entertainment bills must be accounted that where is it reaching. Definitely the budgeting or the amount of money you are making is far less important that having the knowledge that where is it going. You can always put effort to have a perspective upon all your spending and be calculative in optimization and creating a mindset.

It might help your job and can make you retire young than expected.

Diversifying the income stream and starting a side-by hustle –

Surviving and remaining in the technological era or growth and prosperity, in this bright 21st century we must look for other options and openings. Which will lead us to build part time or side income. It definitely influences your lifestyle and growth. Looking at small stones will help you to build up the large mountain.

Continuous struggle in your professional career especially in jobs as well having a side by part time income can grace you with a retirement where you will retire in five years after the job is at its verge of ending.

Being an investor instead of being a consumer –

Investing is a very important element to generate wealth. Consumerism leads to a dialectics which often ends in no financial freedom particularly. Whereas if you save the unnecessary expenditure those can be incurred in precious assets building.

Thereby we understand that building a lot of money as well a chance to retire before thirty just as an example requires a lot of sacrifices, dedication and strong will power. But if you can make it financial freedom will be yours to cherish.

Comments

Trending