Many tend to think of financial freedom as not being achieved. Others think of it as a myth. This mentality has deeply sunk into their brains to the extent that the whole concept has become just but an elusion to them.
They have given up on the idea and the word ‘financial freedom’ is no longer part of their vocabulary. This should not be the case. On the contrary, achieving financial freedom is as easy as ABC. You should follow three simple rules, and you will be on your way to a life full of financial stability.
Rule Number 1: Do Not Live Above Your Means.
This is one of the main reasons why many can never achieve financial stability—living above your means that you tend to strain the little you earn. In the long run, you end up dead broke. Your next hope of getting some cash in your next salary, of which you still plan to use it all up in luxuries.
Try and live below your means. There are a lot of luxuries that one can get rid of and still live comfortably. For example, boarding a taxi daily when going to work, why not save up by walking for the next two months and buy your car in the third month. This is just but one of the few ways to simply save up.
Rule Number 2: Save Up and Invest Whatever Remains.
I am sure that we have all heard of various saving options offered by banks or most of the money co-operatives we deal with. Some are using them while others just ignore them. Saving is one of the wisest things one can do.
It is crucial to think of the future and not just today. See beyond your nose and plan for it. Look for a saving scheme that you can use and start saving. As for the amount that might remain, find a way of investing it. This way, your money will grow.
Rule Number 3: Improve on Rules 1 and 2.
It is easy for one to plan to save or minimize their expenses. The problem comes in after a couple of months when most of them quit along the way. Make sure that you do not fall into this category; improve your saving skills day after day. Read periodicals and books dealing with this topic and talk to professionals.
