Here are some useful tips for your Financial Freedom!
1. Develop a wealthy mindset
Change your thinking: Don’t think about how you cannot afford it but rather think “How can I afford it!”
Resist negativity and keep it positive.
2. Spend less than you earn
Have a spending plan
Make a budget and stick to it. If it’s not in your plan, you cannot afford it so stay disciplined and exercise delayed gratification.
3. Learn the language and mechanics of money
Know what terms mean like we have already posted below.
4. Pay off your debts
Arrange realistic payment schedules with everyone you owe and stick to them.
5. Acquire Assets
You increase your net worth by reducing your liabilities and increasing your assets.
Assets include real estate, paper cash, a business, stocks and shares etc
6. Know the power of Compounding
Let us do some simple maths involving Compounding: £5K/yr @7% over 40 years makes you a multi-millionaire! Decide how much you will invest every month without fail
7. Use other people’s money and time to get started
Get out of your comfort zone and act now, learn how to leverage other people’s resources and skills.
Be blessed and see you at the top! God has already given you the power and ability to create wealth.