The Journey To Financial Freedom

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No matter how much you earn being financially free is a luxury many don't have and some don't even understand what being financially free means. Being financially free means you can make decisions without having an headache over the impact it might have on your finances. It simply means you control your finances and not the other way around. There are a lot of people who make enough to be financially independent but are still bound because of the bad decisions or actions they take, but there are many ways to achieve financial freedom without having to go crazy.

First you need to earn more than you spend. To become financially free you can't rely on just one stream of income, you have to have other side hustles to help you keep up. A lot of people make that mistake of living beyond their means, they earn $1000 but spend $5000 and end up in debts every month because they are shooting themselves in the foot. No matter what you do you'll constantly be drawn back and becoming financially free will be unattainable. If you like spending so much then you must learn to make so much as well but if you can't make sure to live within your means until you can.

Next you need to track your spending because it will help you decide just how much you should save up, spend and invest. This will simply help you plan your finances better. It is absurd that some people still spend impulsively without making plans because without plans of course you'll spend above your limit and will barely be able to make plans to save or invest and you'll find yourself in the same position every month, year in year out. You need to have plans for your expenses, savings and investments. Just because you earn $1000 every month doesn't mean you must spend $1000 every month, learn to save not just for emergencies but for the future as well. By doing this frequently you'll start to see changes in your finances. If you have problems with saving you can set up automatic transfers to your savings account, that way you want have a choice and you'll get used to it easily.

To achieve financial freedom you need to be able to delay gratification and make more sacrifices. Learn to cut down on unnecessary spending that you know would stand in the way of your savings or investment. Not just cutting down on the amount of Starbucks you take a day but cutting down on unnecessary shopping or spa treatments, you could opt for more DIY's or other cheaper options.

Finally you have to be disciplined, it is very easy to make plans but if you are not sticking to them you might as well forget about it. Make sure that you stick to your plans, you could also make a friend your accountability partner to help you stay on track and with time you'll get used to them yourself.