How to Be Financially Freedom
For many people, achieving financial freedom—having enough cash on hand, investments, and savings to support the lifestyle they desire for themselves and their families—is a top priority. Developing a nest egg that would enable you to retire or pursue whatever career you like also means removing the pressure of having to make a particular amount of money each year.
Unfortunately, far too many people lack financial independence. Even in the absence of sporadic financial problems, the continual load of mounting debt brought on by excessive spending prevents them from achieving their objectives. Additional gaps in safety nets are exposed when a severe crisis—like a storm, an earthquake, or a pandemic—totally destroys all arrangements.
KEY LESSONS
1.Make a plan for accomplishing your life goals, both big and small, financial and lifestyle, and then stick to it.
2.Create and adhere to a budget that meets all of your financial needs.
3. Pay off credit cards completely, take up as little debt as you can, and monitor your credit rating.
4. By establishing an emergency fund and making contributions to your employer's retirement plan, you can establish automated savings.
5. Maintaining your possessions is less expensive than replacing them, but your health comes first.