Below are some of the best life lessons for you to achieve financial freedom and good money in life so that you live happy.
10 LIFE LESSONS FOR FINANCIAL FREEDOM
We bring you best financial freedom plans so that you get your answer to how to get financial freedom fast.
Getting Financially stable and living a wealthy life is almost the desire of every person. But for living a financially free we don't take steps which are essential, smart and worth following for all our las we don't know these steps of getting financially wealthy and live a rich life forever.
Now we bring you some of the most important financial freedom plans from financial gurus regarding money and life and how these both are always correlated and what should you do to live a money rich life.
FININCIAL FREEDOM PLAN 1: FIND A “FINANCIALLY RIGHT”PERSON FOR MARRIAGE.
Marriage is auspicious and meant to be a life changing event. So we are not saying you to marry a financial genius or someone who is wealthy but you should marry someone who has good financial habits.
Don’t surprise your partner by changing your financial habits when you’re married (and ask the same of your spouse). At that point, it will cause significant issues as money is one of the biggest things couples fight about.
Getting Financially stable and living a wealthy life is almost the desire of every person. But for living a financially free we don't take steps which are essential, smart and worth following for all our las we don't know these steps of getting financially wealthy and live a rich life forever.
Now we bring you some of the most important financial freedom plans from financial gurus regarding money and life and how these both are always correlated and what should you do to live a money rich life.
FININCIAL FREEDOM PLAN 1: FIND A “FINANCIALLY RIGHT”PERSON FOR MARRIAGE.
Marriage is auspicious and meant to be a life changing event. So we are not saying you to marry a financial genius or someone who is wealthy but you should marry someone who has good financial habits.
This is a personal quality which is highly required in every partner for a wealthy life ahead. In fact when you are usually trying to impress the opposite sex with expensive dinners, extravagant dates, and impressive presents which just takes a toll on your pocket but still you will try to spend every single penny you have on the person who you think is special.
But if you can’t afford something when you’re dating, you most likely won’t be able to afford it when you’re married so show your partner who you really are financially, and make sure he or she shows you who he or she is before marriage on terms of spending money and thinking about money as a person making you spend a fortune on attractive things instead of making you save money and spend wisely is of no good to you.
Don’t surprise your partner by changing your financial habits when you’re married (and ask the same of your spouse). At that point, it will cause significant issues as money is one of the biggest things couples fight about.
Talk about your “money philosophy.” Are you a saver? Is she a spender? Do you believe in debt? Do you want to own a home? What are your assets? What is her salary? Does she owe money? What are the credit histories and credit scores for both of you? Does she have a budget and adhere to it? These are easy questions to answer but not so easy to ask.
They are so important, though. You need to have full disclosure of your past, present, and future financial lives. You will learn not only a lot about your potential future spouse but quite a bit about yourself.
Hence this must be a very important point to consider in your financial freedom plan to get financial freedom fast.
We all do love children it should be obvious. However, we also have to say that the cost of raising them continues to surprise all of us.
If you want to manage your money successfully, this is one of the most important principles to follow. And this is where most of us have gone wrong, and will continue to go wrong. People want to have everything…now.
FINANCIAL FREEDOM PLAN 2 : STAY MARRIED TO THE “FINANCIALLY RIGHT PERSON.
The quickest way to a financial downfall is divorce. Think about it Besides the emotional turmoil, at best you split your money in half and at worst, you lose almost all of it through legal fees, administrative costs, excess living costs, alimony, and child support get a look at "Alan from Two and halfmen" for an experience of a failed marriage financial turmoil.
You will always learn from many Indian couples that staying married for life is the main reason one was able to retire at a point where he is financially stable and more than happy.
Sure, we all do well in business and jobs with proper money management. However, many of us who made more money may have still to work to support their third or fourth family.
Hence staying married to your loved one is very important part of the financial freedom plan to get rich fast and stay rich longer.
FINANCIAL FREEDOM PLAN 3 : PLAN FOR CHILDREN
It’s very difficult to say no to your children. You want them to be happy, and happiness usually means that they get things.
When you add up the cost of raising kids, the obvious expenditures come to mind: education,childcare, healthcare, food, and clothing.
However, don’t forget to include things like a larger house, larger car, higher utility bills, entertainment, sports, and other activities they will participate in during their childhood.
The cost of having and raising a child is between $300,000 and $350,000, depending on your income level and spending habits. That’s a huge expenditure for anyone! Ultimately, you will spend more money on them than on yourself.
You can’t be selfish (monetarily or otherwise) if you are going to have children. More importantly,you need to fully understand the long-term financial trade offs of your decision.
In financial planning terms, children are a significant expense that you and your spouse need to consider prior to starting a family.
As we know it sounds cold to look at children this way, and very few people do so. Once you’ve done this and decide to have children, focus on loving them, and everything will work out from there.
FININCIAL FREEDOM PLAN 4 : ALWAYS SPEND WITH WHATS IN YOUR POCKET AND NOT WORK WITH CREDIT
If you want to manage your money successfully, this is one of the most important principles to follow. And this is where most of us have gone wrong, and will continue to go wrong. People want to have everything…now.
They just can’t wait until they can afford it.Wait until you can afford something before you buy it. It will feel better when you get it. If you continue to purchase things you can’t afford, you will be on a downward spiral that will continue until you go bankrupt.
If you always live below your means, you will always have extra money to save and invest. Over the years, your money will continue to grow, and ultimately you will find yourself with significant financial security.
Keep in mind that living below your means doesn’t mean living badly. It means you need to prioritize your spending and focus on what is most important to you. It means "living smartly" as buying anything on credit is a liability which are said to be avoided by experts.
Hence understand that this financial freedom plan is the best one to get rich fast.
FINANCIAL FREEDOM PLAN 5 : TAKE CARE OF YOUR THINGS
As your parents told you this when you were little, and many of you probably blew it off because you may not have been paying for your things.
FINANCIAL FREEDOM PLAN 5 : TAKE CARE OF YOUR THINGS
As your parents told you this when you were little, and many of you probably blew it off because you may not have been paying for your things.
Well, now that you’re on all grown up, you’re paying for everything you buy. And, you want everything to last longer. So we guarantee that if you take care of your things you will save tens of thousands of dollars over your lifetime.
Just think for once you taking care of your car your home your belongings just increase their shelf life as this is the most easy financial freedom plan to follow and get yourself a rich life fast.
This financial freedom plan will help you get both financially and emotionally wealthy. There is nothing better for the human spirit than developing lasting friendships.
Just think for once you taking care of your car your home your belongings just increase their shelf life as this is the most easy financial freedom plan to follow and get yourself a rich life fast.
FININCIAL FREEDOM TIP 6 : EXPAND YOUR SOCIAL CIRCLE AND KEEP IN TOUCH WITH THEM
This financial freedom plan will help you get both financially and emotionally wealthy. There is nothing better for the human spirit than developing lasting friendships.
As you are doing it, you won’t even realize you are helping yourself in the personal money management area. Most good financial advice we receive comes from friends and associates and the advice is not only good but also free.
Make it a point to keep in touch regularly. Remember birthdays, remember anniversaries.
Make it a point to keep in touch regularly. Remember birthdays, remember anniversaries.
It’s amazing how many friends you will cultivate over the years. Friends from high school and college become insurance salesmen, CFOs, accountants, real estate investors, realtors, consultants, and Businessmen.
Even those who don’t get involved in financial careers will have personal money management experiences that you can learn from.The same can be said about individuals you meet at work.
When you begin your career, spend time developing friendships with your associates (at all levels of your organization). Don’t limit yourself to the people in your department.
Expand into other areas. Definitely get to know people in the accounting department. If you have the opportunity, introduce yourself to your CFO.
All this said, do not have a friend as your investment advisor. The downside far outweighs the upside.
All this said, do not have a friend as your investment advisor. The downside far outweighs the upside.
A good friend will understand. It’s OK to get advice from your friends. People love giving advice. And people love helping other people. Ask questions, and you will get answers (either opinions or facts).
Just make sure to make your own financial freedom planning and personal money management decisions and it will make you rich for life.
This principle is a bit philosophical, but if you practice it properly, it will provide you with significant long-term financial gains.
FINANCIAL FREEDOM PLAN 7 : START WITH DOING JOBS AS IT GIVES YOU IMMENSE EXPERIENCE BEFORE STARTING A BUSINESS
This principle is a bit philosophical, but if you practice it properly, it will provide you with significant long-term financial gains.
Your first jobs are usually learning experiences during which your employers benefit less from your contribution than you do from theirs.
We know that’s difficult for your ego to handle, but it’s true.Whether you realize it or not, they are paying you to learn.
Most young adults don’t take advantage of this opportunity and put in the bare minimum needed to get the job done.
Few work beyond the requirement timeline because they see others who are being paid more and believe they aren’t working hard. This is where they go wrong.
Few work beyond the requirement timeline because they see others who are being paid more and believe they aren’t working hard. This is where they go wrong.
Most young adults feel that if they do more than the minimum, the company is taking advantage of them.
On the contrary, the more you put into your first positions, the more knowledge you will gain for jobs later in your career.
And you may even get an early promotion! Volunteer for extra duties, ask your boss questions, and take the free evening seminars.
By doing so, you will be helping yourself more than you will be helping the company. Think of your first job as an extension of college learning.
By doing so, you will be helping yourself more than you will be helping the company. Think of your first job as an extension of college learning.
With one important change the company is paying you to learn! If you have this attitude, you will find yourself way ahead of others both in your career and financial well being just a few years later.
You can spend this hour on personal finance in several ways. If you consistently do this, you will find yourself spending more than one hour.
FINANCIAL FREEDOM PLAN 8 : INVEST ONE HOUR EACH IN LEARNING ABOUT PERSONAL FINANCE
You can spend this hour on personal finance in several ways. If you consistently do this, you will find yourself spending more than one hour.
Once you realize you’re gaining so much valuable information and becoming significantly more educated in an important area, you won’t be able to stop.
So, where should you spend your time and energy?
Start with free resources. Here are a few to consider:
*The Internet—There is enough free personal finance information on the Internet to provide you with in-depth information in all areas I’ve discussed in this book and more.
*The library—The local library has sections with a significant number of books in this area.
*Your company—See if your company offers any seminars, and take advantage of them.
*Find a mentor—People enjoy helping others. Seek out individuals who are financially savvy. Develop a list of questions and ask them for an hour of their time. It could resultin hours of free advice over time.
*Friends and family—You will be surprised what people know but haven’t passed on to you.
Yearly you will spend three hundred and thirty six hours more than the average person spends learning about personal finance.
So, where should you spend your time and energy?
Start with free resources. Here are a few to consider:
*The Internet—There is enough free personal finance information on the Internet to provide you with in-depth information in all areas I’ve discussed in this book and more.
*The library—The local library has sections with a significant number of books in this area.
*Your company—See if your company offers any seminars, and take advantage of them.
*Find a mentor—People enjoy helping others. Seek out individuals who are financially savvy. Develop a list of questions and ask them for an hour of their time. It could resultin hours of free advice over time.
*Friends and family—You will be surprised what people know but haven’t passed on to you.
Yearly you will spend three hundred and thirty six hours more than the average person spends learning about personal finance.
If you put in that amount of time and energy, we guarantee you will be much better versed in personal finance and be master of wealth.
Its very important to have short-term financial goals to be working toward. The goals need to be realistic and attainable.
FININCIAL FREEDOM PLAN 9 : SET (REALISTIC)SHORT-TERM FINANCIAL GOALS
Its very important to have short-term financial goals to be working toward. The goals need to be realistic and attainable.
If not, then you will stop setting them.Your short-term financial goals should include but not be limited to saving and investing goals.
You should include rewards as part of your financial goals.
An example may help : Monthly goals
▪Put money in savings account.
▪Put money in trading and stocks.
▪Save money for a vacation.
▪Save for and buy a new things.
Similarly plan good for yearly goals.
Remember, you’re managing your money for a reason. You want to increase your net worth over time. Thus, you must keep track of your net worth.
This is very easy to do: You just need to develop a simple net worth statement and update it regularly. You then can develop goals and assess your progress regularly.
You should include rewards as part of your financial goals.
An example may help : Monthly goals
▪Put money in savings account.
▪Put money in trading and stocks.
▪Save money for a vacation.
▪Save for and buy a new things.
Similarly plan good for yearly goals.
FININCIAL FREEDOM PLAN 10 : ALWAYS KNOW YOUR NETWORTH
Remember, you’re managing your money for a reason. You want to increase your net worth over time. Thus, you must keep track of your net worth.
This is very easy to do: You just need to develop a simple net worth statement and update it regularly. You then can develop goals and assess your progress regularly.
As an aside, many experts say you only need to look at this annually. Personally, you should look at it monthly. Doing so will allow you to always know your overall financial position and to react before any emergency.
Net worth is what money value you are worth. To come up with this number, you add up all that you own and subtract everything you owe.
Net worth is what money value you are worth. To come up with this number, you add up all that you own and subtract everything you owe.
These are all easy and amazing financial freedom plans to make you rich fast so use them and get rich.
0 Comments