If you want happiness, freedom, power and wealth in this life there are small adjustments you can make to ensure you’re able to go wherever you want, when you want, all while saving up a huge nest egg. It is possible to live the life you dream, debt free, ALL while saving.
These tips will help you do just that faster than you ever imagined!
5 Ways to Reach Financial Freedom
1. Work for yourself.
This one might be obvious. While it’s always great to have a steady source of income working for an entity other than your own, it is much more valuable to diversify your own skills in the meantime. Learn instruments, statistics, languages, fitness skills and more. All of the skills you accumulate in your life are indeed marketable. The more you practice skills you become an expert. When you are an expert at nutrition, content creation, digital marketing or fixing cars, you can literally go anywhere and work for yourself. Always develop your skills and dedicate time to new ones. DO This: Instead of logging into Facebook and Social Media sites multiple times per day, give yourself one hour for social media work per day. The rest of your time you can dedicate to really honing your amazing skills!
Not owning a car with a downtown condo/office definitely saves thousands of dollars over the years. It is true but you really do not need a car all of the time. Uber or chauffeurs help a lot!
A car is purely a money pit. If you can go without it, do it. Plus, biking is great exercise.
DO this: try to go a few days a week without your car to get used to the idea of having a driver instead.
3.ONLY buy a house when you’re ready:
with most of the cash up front.
Truly wealthy people view freedom as an asset. Wealthy people are focused on owning the asset today not in 25 years. To build wealth, you must focus on cash flow. A house becomes a big liability because of all the money you need to feed into it each month. Unless your house is giving you positive cashflow each month, it isn’t really an asset yet. The money becomes locked into your house, money you could have invested elsewhere to grow your cashflow. With a home you can only realize gains when you sell it (hopefully!) Yes – you have to live somewhere. Renting combined with saving allows flexibility and freedom to make a move at anytime. Bonus if you can negotiate a great rental price.
DO this: Ask yourself if going into debt for 25 years is really good?
4.Invest in Crypto, Good Business Deals and Stock Markets
Due diligence is of utmost importance here. Find an advisor you trust or do your own research on markets and trends. When you invest in solid companies who aim to provide a big return on investment, it is entirely possible the value of your stock will some day go way up. There is a lot more opportunity for wealth in the stock market. When the CEO of an undervalued company owns a lot of stock in that company it is another positive sign. Forecast where future technology is headed to strategically invest in up and coming companies.
DO this: find a deal at a low price & do your due diligence.
Due diligence increases the potential of an outstanding return on a 10-20k investment.
Interesting article published recently. Banks and governments are turning to digital currency and blockchain technology. Learn about these things! It’s all happening now. Artificial Intelligence + Automation + Blockchain Technology + Crypto = the future. Making moves, making money with digital currency. Uber already uses blockchain technology. Soon all major companies will utilize it. Personally I have $DYN. The value is in their innovation. Learn about asset-backed crypto/data-backed or performance-backed crypto. #DYN In the Empire, you get paid for any and EVERYthing you do and any skills you have. Even watching TV or being on the phone makes you money. In my humble opinion, AI cannot ‘take over’ humans because artificial intelligence is completely reliant on human input. Artificial intelligence just knows what the people want! Combining Automation, Augmented Reality, AI, Blockchain Tech & Crypto makes for an exciting look at how humans will all soon be financially free (and free of your ‘daily grind’) in the future.
5. Reduce Attachment & Foster Residual Income
Adjust your life to focus on minimalism rather than consumerism. Watch expenses carefully. Foregoing coffee shops and frivolous expenses taps you into instant wealth that you can use elsewhere to make more wealth. If you sell a creation or skills (see point 1), use the internet to your advantage. Create a sales page for your invention, add a PayPal button to that page and watch income roll in! (FYI You must claim internet payments (income) on taxes). Always try to get residual payments (repeat payments after the work is done). Perhaps you create a legendary self-help video people buy from you. Maybe monetize your YouTube Channel or website hits (sell advertising) or write a literary blockbuster. Residual payments happen when you get paid for work that is technically already done. If you sell your book one time, you can sell it a million times more. Drive all traffic to the landing page! Finally, always be grateful for what you have. When you acknowledge blessings several times a day amazing thing will inevitably happen: you attract more wealth.
DO this: Make a list of things you have not used in 6 months and try to turn it into cash flow. Create something that you can do once but sell over again!
Be sure to add your own tips to becoming financially free in the comments below 🙂 I have been practicing the above tips throughout my 20s and I am pleased to report it is paying off quite nicely!
Living that jet-set, sun-kissed, chauffeured life and accumulating savings!
Theresa Longo is nominated for the ‘Women In Business Award’ (Business Leadership) & ‘The Judy Heffernan Award’ (Empowering Others) at the annual Women’s Business Network award show presented April 9th, 2019, Peterborough!
Working for yourself has countless benefits like maintaining your own schedule, having choice and variety in your routine and the ability to become financially free. Why let the government tell you your wage or how many paid sick days you should get? This article outlines why working for yourself is the best choice you can make and details how you can easily make the transition.
Working with public and privately held companies over the years on Canada’s biggest stock exchange in the heart of Toronto’s Financial District has provided me with expert insight into the markets as well as new technologies and emerging systems. Here are theresalongo.com official predictions for the future, based on over a decade of front line work on Bay Street.
The interview with PtboCanada.com a news media company took place in Theresa Longo’s hometown, Peterborough Ontario. Thanks to Neil and PTBO Canada for the interview! In this interview we talk about how you can instantly find your success, how to deal with negative people online and important things to be mindful of while you pursue your dreams!