What is your definition of financial freedom? Well, to me it means to be able to have
enough money to do what I want to do when I want to do it. I think this is most
people’s definition, too. Makes sense, right? Think about it, if you could do something
today that would continue to bring in money tomorrow with little or no continuing work,
would you do it? I know my answer would be a resounding, YES!
Being under financial stress is no fun. The worry, the fighting, robbing Peter to pay
Paul, we have all been there. Our relationships have suffered and so has our health.
Stress can be deadly so you need to do what you need to do to reduce it. Financial
freedom may just be the ticket.
So, how does one become financially free? One of the best ways I know is having a
source of residual income. Do a little work now for the reward to come every day in your
mailbox or Paypal account. You could write a book and get it published. If it sells
then your residual income would come from the continued sale of the book.
If you were a recording artist then your residual income would come from royalties from
your songs. Many people these days have turned to the Internet for their residual
income. It comes in the form of some type of marketing online. MLM, affiliate
marketing, article marketing, what have you.
You could become very successful or you could continue to trudge along and never make
much money on the Internet. I know someone who has been working her butt off for eight
years trying to become an overnight Internet success story and she has not quite gotten
there yet. She is on the brink of something very big, I think, and may just make some
significant money this time.
Another way to maintain your current lifestyle is to increase your net worth. You can
do this by buying, fixing up, and maintaining income property or having investments
that has worked out for you and maybe have some money in savings. As long as you have
the money you need for the things you want and the things you want to do then you are
I saw a list once of the way to achieve the freedom you want and I like the way the
author put things in order but I do not necessarily agree with the order of them.
The author placed “giving” at the bottom of the list. Giving to those who are in need
should never be put at the bottom of anyone’s list. It should never be the last thing
you do, it should always be the first thing you do. Whatever you do for someone else
will come back to you tenfold.
The other parts of the list were fine though and they were, spend less than you make
have a budget and stick to it forever. Avoid debt, pay off, and cut up those credit
cards. Vow to yourself that you will only ever pay cash for anything you want. And last
but not least, start investing and have some type of savings plan. The financial
freedom you seek is just around the corner.
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