First are you currently: In control of your money and managing it well? Spending less than you earn?
If yes then keep reading because there are many opportunities available today to obtain financial freedom. Nothing comes without some risk involved but too much fear will get in the way of you moving forward.
If you answered no then your first step is to gain back control of your money and spending habits, then once you have some security here you are then in a better ready to look at the following steps so you don’t run into trouble further down the track that could have been easily avoided.
If you want to change your life for the better and start your journey to financial freedom, here are five key points I discovered while looking into this topic.
- Decide what’s Important to You.
Decide if you want to be dependent…or independent.
If you choose to be dependent, on the government or just your current job and are happy to have your entire financial life and your future, in the hands of someone else, then that today is a huge gamble to take.
If you decide you do want to be financially independent, then keep reading.
2. Get Educated About Money and Investing.
Where do you find this financial education? There are many books, seminars, and online resources that offer a wealth of information on money and investing. Talk to those that have succeeded in this area. You should only want to learn from people who are actively doing what you want to do. Be it in the area of real estate, business, oil, gold, silver, or the share market.
Tip: when you are talking with a “financial expert,” ask yourself this question, “Am I listening to a true educator or a salesperson?”
3. Create A Simple Plan.
Ask yourself: What is it that I want to achieve financially? Create a plan and keep it simple. As an investor, there are two things you can invest for: cash flow and/or capital gains. What’s the difference?
“You buy a share of stock that pays a dividend. You hold that stock and every year you are paid a dividend. That dividend is called cash flow. Or you buy a $50,000 property and decide to rent it out. Every month you collect the rent, pay the mortgage and other expenses and—if you’ve managed the property well—you’ll make a profit each month. That profit is cash flow.
You buy a share of stock for $20. You later sell that share for $30. The profit you make is called capital gains. Or you buy a property for $50,000. In two years you sell that property for $75,000. Your profit or $25,000 is capital gains.”
4. Start Small.
With almost everything in life there will be a learning curve. You will make mistakes, so start small. One simple action you can take today is to go to a coin shop or look online for one and buy a 1-ounce silver coin. You now own a commodity. The beauty of this small investment is that now you can go online every day and check if the price of silver is up or down. You’ll begin to spot articles and news clips on silver. Because you now own silver, both your interest and your education will increase dramatically.
5. Put A Little Money Down.
At some point you must take action. You can read all the books you want, attend seminars all day long, but if you don’t put up a little money and get into the game you will never see a change in your financial life.
There are a lot of factors to overcome in order to take control of your financial well-being and to change your life for the better. Fear, negative people, hopelessness and more can sabotage your efforts to move forward. But know that you are not alone.
The key is to just start. Follow the five steps above, and you will be amazed at how quickly your financial knowledge increases and how rapidly your financial life begins to transform. And once you’re in motion, your successes will breed more success.
What are you going to do TODAY to start your journey to financial freedom? If you know you would benefit with some help to start organising your finances, then I can help you do that. Then you’ll be in a position to begin to take advantage of the 5 steps above. Call me now 0273483207. You’ll be glad you did!