What does it take to achieve financial freedom? Well, in this economy everyone knows that money is extremely tight. There is just not enough to go around anymore. Your biggest investment, your house, is not worth what it was when you bought it and you can't sell it because no one is buying but you can't afford it anymore, either.
What this probably means is, if you want to keep your house, that some drastic changes have to be made in the way you and your family spend money. If you want to achieve financial freedom then you need to pay attention and follow the steps in this article.
You may say to yourself over and over again how this is easier said than done but once you learn to live simpler without all the bells and whistles, you may find that you and your family are a lot happier. They say that the economy is bouncing back but I just don't see it. How could it bounce back when gas prices keep going up which means everything else on the planet goes up in price, too? Except your salary, that never seems to go up.
If you are truly financially free, you will have no debt and have a minimum of three months salary in the bank, or somewhere safe to weather any other storms that come along. So even though the economy is in the toilet you can survive without much impact to your livelihood and everything will be smooth sailing.
My first piece of advice is to get rid of the credit cards. It is cash on the barrel head or nothing at all. Credit will ruin you quicker than anything. Always live within your means. Using credit means you are trying to live beyond them and soon you will find yourself so deep in debt that it seems there is no way out. Be the smart person you are and just say no to credit.
Learn to save for the things you want. Budget for the things you need on a weekly or monthly basis and save what is left over for those luxury items you want. If debt is not a problem then you are in much better shape than a large percentage of the population. Pat yourself on the back but still you have to be careful and not splurge on things you do not really need.
Cutting out unnecessary spending will keep more money in your pocket, if that's where you want it, or it will keep more money freed up to pay off some debts that you owe. Start with the biggest debts first and then when they are gone put the money you had going toward them to the next biggest bill and so on and so on until the debt is gone.
When your debt is gone and you only have your household bills to pay each month, you will be surprised at how much money you really have and didn't even know it. This is how you will achieve financial freedom.
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