November 18, 2023

The Formula for Financial Freedom

Financial freedom means you have the ability to live your life without worrying about being tied down by monetary limitations, relying on an emergency fund, or worrying about money in general.
If you’re ready to achieve financial independence and freedom, here is a seven-point formula that you can use to help accumulate wealth, become happier, and achieve financial freedom in the years ahead.
1.Begin to Think Positively About Money
Part of becoming rich and achieving financial freedom involves thinking positively about money.
Thinking negatively about money is an emotional obstacle that you must eliminate in order to achieve financial freedom.
You must eliminate the thoughts that having more money leads to evil or that money can’t buy you happiness.
When you begin thinking positively about money, you will attract opportunities and open up more doors than you ever thought possible.
2.Rewrite Your Major Goals for Financial Freedom
Set financial goals for yourself.
Rewrite and review your goals on paper every day and think of how you could accomplish them. This will take you between five and ten minutes.
The very act of writing and rewriting your goals, and thinking about them each morning before you start off, will increase your chances of accomplishing them.
3.Plan Every Day in Advance
Plan every day in advance. The best time to do this is the night before.
The very act of planning each day, each week, and each month in advance will make you far sharper and more precise at everything you do.
You will find yourself with better focus and a greater sense of self-control and personal power when you work from a list.
When you plan every day in advance you will be better able to control and track your spending habits as well.
Plan how much you have to spend for the week, month, or year and decide where you will be able to save.
From there, put as much as you’ve allocated into a savings account, some into an emergency fund, some aside for normal bills and paying off any student loan debt you may have, and maybe even consider budgeting for investing money in the stock market.
4.The Principle Of Concentration
Concentrate single-mindedly, every hour of every day, on the most valuable use of your time.
The principle of concentration is absolutely essential to achieving financial freedom.
Virtually everything you do in terms of goal setting and financial planning is aimed at enabling you to determine the one or two things that you should concentrate on more than anything else.
Your ability to develop the habit of concentration will do more to ensure your personal finance success than perhaps any other skill or habit you can acquire.
The things you focus the most on and spend the most time doing should be in direct alignment with your financial goals.
Spend your time focused on what will make you the most money.
5.Invest In Yourself
Listen to audio programs in your car. The average person spends 500 to 1,000 hours per year behind the wheel.
By turning your car into a university on wheels, you can become one of the most knowledgeable and skilled people in your profession.
Purchase courses on money management, read books on personal finance, and find articles online about money. You may even invest in yourself by investing in the advice of a financial advisor.
Very soon you will have so much knowledge in the area of money that people will come to you for advice.
6.Ask Yourself These Magic Questions
Ask yourself the two “Magic Questions” after every meeting and every event of importance in your life.
The first question is, “What did I do right?” And the second question is, “What would I do differently, next time?”
By reviewing your performance immediately after every meeting, sales call, and presentation, you will become better and better, faster than you can imagine.
The answers to both of these questions are positive.
By reviewing what you did right and what you would do differently next time, you program into your mind a predisposition to be even better the next time out.
If you take a few minutes and write down everything you did right and everything you would do differently immediately after a call or presentation, you can double and triple the speed at which you learn, grow, and improve your work.
Improving yourself and your quality of work will, in effect, improve the money you make.
7.Be Generous to Others
The final point is to treat everyone you meet like a million-dollar customer.
Treat every single person, at home and at work, as if they were the most important person in the world.
Since everybody believes that he or she is the most important person in the world, when you treat them as if they were, they appreciate your recognition and acknowledgment more than you can imagine.
It is a proven fact that being a more generous person will help you attract more wealth and become a happier person.
We’ve often heard it said, “money doesn’t buy happiness”.
But, the truth is that:
Money is essential to happiness.
Material prosperity predicts life satisfaction,
And the more economic status we achieve, the more we’ll feel satisfied with our life.
Not only do our measurements of happiness rise as our income rises, but so does our sense of well-being and life satisfaction.
So, by choosing to focus on money goals that motivate you, while also embedding a positive mind-set towards money, towards yourself, and life in general, you will help to achieve both increased wealth and happiness.
And when you get there – evidence clearly shows us that being generous with our money makes us happier – and richer!

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