What is the secret to achieving financial independence? How can you make sure you have a solid nest egg when you retire and if you are like me and you want to be financially independent before you turn 30, how can you make that dream come true?
You are reading this post today because you want to be financially independent or in the very least, you want to improve you financial situation, right?
Like many people out there, you are not alone. Many people want to be free from all their financial worries and live a life of freedom from debt but very few are willing to do anything about it.
Do you think you are the type of person who would do what it takes to achieve your dreams or are you like the 90 percent out there who would read this, get hyped up and eventually do nothing about it? I seriously hope not.
So how can you get out of debt forever and live a life of real financial freedom?
1. By now I’m sure you already know that your income is not wealth and it is not a guarantee that you will be wealthy because you could get fired at any time and that is something you have no control over.
So for this very situation, your best bet is to start your own business. It doesn’t have to be a huge business; just a small side stuff that will keep you afloat until you decide to go full time with it.
The deal is that starting a small business on the side will give you some sort of control over your life and if that business does really well you can quit your day job and focus fully on it.
2. Get out of debt and do it quick: Debt is a BIG FAT PAIN IN THE A**. It takes the life out of you systematically and leaves you dry. If you are in debt right now you must make a plan to get out of it soon. Read the richest man in Babylon and you will see in it how you can get out of debt systematically.
3. Save some of the money you get from your job or your side business and invest it well. Don’t fall into the trap of doubling your money overnight advertised by some of these companies.
Most financial books tells us to save 10 percent of our income; which is okay. But if you plan on getting out of debt soon, you should save more than 10 percent especially if you don’t have serious commitments like kids and family.
It will be easier to do this if you are a student or still single.
Financial freedom is not an impossible feat to accomplish. Many people have reached their dreams of financial freedom and you can too.