InvestmentTotal.com Response: In order to achieve financial independence, you need to know what exactly is money management, financial literacy and proper financial planning. To make the answer short and concise, just read my latest blog post. (here it is).
There are many people (including myself) are dreaming to achieve financial freedom. Wherein, noone will tell me what to do. I want a complete freedom (time and money). I want to have more time with myself and more money to enjoy my time. How’s that? First, I need to focus on what I want. Surely, I know what I want. But, focus means not getting distracted from any thing or to anyone.
Are you also dreaming to have a lot of money and a lot of quality time to give to your spouse and kids? Read further to know the right answer on how to become financially independent.
Yes you can achieve financial freedom by the use of proper financial management.
|Financially Independent Photo Credit: Louis CC 2.0|
Financial Management and Planning
Proper financial management can help you on how to spend your money wisely. It is true that money is hard to earned (for many) but it is easy to spend. You have to think carefully where to spend your money. You better spend it for your future. Paying yourself first is the best way to spend your money wisely.
As a guide,read the topics on how to manage your money properly here.
Financial planning is also very important. You need to have a goal, what would you want to become after 10 years or after 20 years. If you will ask me, I want to become a multi-millionaire after 10 years. Anyway, to become specific I need ten million dollars as my target earning assets during my retirement. What about you, have you ask yourself when do you want to retire and how much money do you need to retire rich and comfortable? Ask yourself now!
Best Way to Achieve Financial Independence
Financial freedom is not just a wish. It will be more realistic if you will take actions towards it. Like for example, how can you achieve financial freedom if you don’t want to take risk in investing your money. You can never have a lot of money by just sitting there and just thinking what is financial freedom all about. As I have said awhile ago, it is a special thing that can enjoy your whole life. Money cannot buy a time, but as long as you have a time, you can make a lot of money and enjoy your time.
And this is it, you need financial education. This simply means you have to know a lot about finances such as personal finance. In personal finance, you can learn about saving money, budgeting money and how to invest money.
Becoming financially independent can make a reality if you follow the guide given above. It is so easy to achieve financial independence as long as you are willing to do what it takes to achieve it. If rich people can do it, you can do it, too. Just plan for it, do it and make it happen.
It’s your turn. Can you suggest some of the best way to achieve financial independence using the comment box below. Which do you think is more effective in achieving financial freedom? Please join the discussion below. Thank you.