Financial Freedom In 7 Steps: My Formula For Happiness And Wealth
Every one of us is looking to make more money than we are currently making to achieve financial freedom earlier. But only a few of us are actually able to achieve the financial freedom that we all desire for. We all want to acquire that much amount of money from which we can generate a constant flow of income so that we don’t have to worry about paying bills ever again. The important question here is “Are you really up for it?”
The encouraging aspect here is that as of today many people are achieving their financial freedom faster than ever.
By proper financial planning and developing money-saving habits (practiced by self-made millionaires), you can also achieve your financial freedom.
Mentioned below 7 steps to financial freedom will help you to become financially independent and manifest your dreams into reality.
The 7 Steps to Financial Freedom
The Seven-point formula given below will assist you in acquiring financial stability and achieve your ultimate goal of financial freedom.
1. Begin to Think Positively About Money
The very first thing you need to do here is to start thinking positively about money. The negative perception of money is the major roadblock towards your path of achieving financial freedom.
Some negative thoughts like, “Money is the cause of all evils”, “It is not possible to be rich and good at the same time” and, “Money can’t buy you happiness” etc. are constantly fed to us by society. We need to get rid of them as soon as possible to start planning a better financial future.
With the right attitude towards money, you’ll see that new doors of opportunities will start opening for you that you would have never imagined otherwise.
2. Rewrite Your Major Goals for Financial Freedom
You need to set your clear financial goals and write them on paper, repeat this exercise every day. This should not take more than 10 minutes of yours per day.
This way you will actively start thinking about where you want to go financially every day, and this itself boosts your chances of reaching there.
The “5×55” Method can prove to be very helpful in this regard.
3. Plan Every Day in Advance
You need to plan the activities which you want to do prior to the day’s start. The best time to do this is at night before you sleep.
Planning your day in advance helps you to improve your spontaneity and enables you to react efficiently when a certain situation arrives.
Not just the day, you need to plan your weeks, months, and years as well.
Planning ahead will provide you with better focus, precision, and a sense of self-control. Moreover, it will also help you to control and track your spending habits.
4. The Principle of Concentration
The principle of concentration has a pivotal role in achieving your financial freedom. Developing this habit of concentration will help you more than any other thing on the road to financial success.
You need to free your mind from all non-important things and put all your focus on the task at hand. You need to learn to use your time efficiently.
Every minute you spend should take you further (directly or indirectly) towards achieving your goal of financial freedom. This means that even when you take some time for yourself by reading books, gardening, or anything which interests you, the aim of that activity should be to relax so that you can be on the ball again.
Concentrate most of your energies and focus on the activities that will help you reach your goals fast.
5. Invest In Yourself
An average person spends around 500 – 1000 hours driving. Instead of sitting idle while driving, get some audiobooks or developmental programs and listen to them while you drive.
By turning your vehicle into a mobile university, you can become a master in the field of your interest.
Purchase courses on money management, read books and online blogs about finance management and money.
Soon you’ll be so proficient that you’ll start advising other people on matters of money.
6. Ask Yourself These Magic Questions
After every important event in your life like a meeting, phone call, interview, or presentation ask yourself these two magic questions:
“What did I do right?” and “What will I do differently, next time?”
By constantly monitoring and reviewing your performance after every major event, you’ll be able to improve your skill level continuously.
This will help you to become more capable and boost your money-making abilities. In literal terms, this will pave the path for you to achieve financial freedom.
7. Treat Everyone with Equal Respect
The last point is to treat every person or potential customer you meet or call with great respect. Treat them as if they are the most important person in the world.
Since everyone wants to be treated with respect, so when you’ll give them the due respect they will acknowledge and most likely return the favor.
Your chances to influence a customer, client, or family member increase significantly when you are respectful.
By following these 7 steps to financial freedom, you’ll achieve your financial freedom earlier than you have imagined. In addition, you’ll become a better version of yourself even to deal with other challenging situations in your life.