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Make Money,  Uncategorized

5 Steps to Financial Freedom

Who doesn’t want to start enjoying the luxury of life right from birth? You don’t have to wait till retirement to live on your paycheck if you know your way around it, right?

Imagine waking up at any time of your choice while others groan at the beep of their alarm by 6:00 am every weekday.

Imagine you don’t have to wait till after the 30th to receive a paycheck to sort bills.

Just imagine you have all the free time in the world to create precious memories with your friends and family.

Who wouldn’t want to enjoy all the goodies of life? Well, the answer is we all want that, but the real question is, are you financially literate?

Before you can have financial freedom, you have to be educated to build wealth, not riches.

Riches will only make you afford things you need presently and will finish in no time, but wealth will keep making more wealth for you till death.

Steps To Financial Freedom

Alright, well, financial freedom is a bold goal because most of us work 9-5, and only a tiny percentage of people achieve true financial freedom.

Even more so, that small percentage is also bound to work, but at least that time, work, and energy is put towards realizing their own ideas, in most cases.

Nevertheless, you can base your success in that regard on one thing – If you want something bad enough and you put in the thought, work, and energy towards the goal, you will achieve it.

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So let’s have a look at the five most important things to becoming genuinely free financially.

Create Cash-Flow

The first step to financial freedom is to have an income source!

Though it may sound demotivating, most financially free people started where we all did with making money – Trading time and skills!

The little hustle as a college student might not cut it until you get a degree and start working for the real paycheck.

This won’t be easy at first, but you will get used to it with time, and you can get a second job as a side hustle to boost your income.

The goal is to have a substantial income and a large percentage to save for commencing your journey to financial freedom.

Don’t forget, though, as we mentioned, working doesn’t necessarily have to mean just selling your time.

If you have a particular skill, double down on that and sell it along with your time to someone who needs it!

Attack Existing Debt!

If you’ve just started your journey of financial freedom and you’re not in debt, then you might want to keep it that way to avoid getting into more of it!

In case the opposite is valid, push as much money as possible towards your debts and clear them out first before making any other big moves!

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It might be hard not to get into debt with a low income, but living according to one’s budget can be of great help in reducing how often you borrow.

When you live according to your budget, you will find it comforting to cook rather than eat out, you will see liabilities as constraints on your income, and you will learn how to fix minor damages in your house rather than call a repairer.

Stack Those Funds (Savings/Emergency)

After getting a steady income and you have already developed a strict habit of not falling into any debts, it’s time to start saving your funds and initiate the process of financial freedom.

According to experts, the minimum you should save from your earnings is ten percent, and the maximum might depend on how many bills and miscellaneous you have to settle monthly.

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Saving 25 to 30 percent of your total income is a good way, but it takes discipline to start from a high rate; instead, you can start from the minimum and keep it steady for some time before increasing it.

Additionally, you should also keep a part of your earnings for emergency funds where you get to settle bills that you didn’t plan for; this will also keep you from running into debts.

Look Into Investment Options

After saving for some period, you can proceed to create an investment portfolio depending on your capital.

You can start by finding a company or business to invest in that will keep giving you returns monthly or annually.

Before venturing into any investment, make sure to do your research and become familiar with the risk you are taking!

It is also essential to diversify your investment because no investment is 100% guaranteed.

Still, if you have a diversified portfolio and one investment didn’t do well in the market, the other will offset the decline.

Certainly, investing isn’t for everyone because it involves risk, research, and planning!

However, one good strategy is to consult with professionals and look for companies that are more likely to be of use in the future of humanity!

Do It Until Investing Outperforms Work!

When you keep diversifying your investment and keep earning and saving to invest more, it will get to a certain point where you make more from your investment than your salary.

This is the moment when you know you can stop working and keep doing what you love while your investment keeps working for you and making money to take care of your family.

Make the First Step

So, how do you make the leap from being a slave to your finances to owning them?

It’s as simple as 1-2—5! But then again, it takes more than that – It takes a paradigm shift.

You need to think about money as something that is meant to serve you and not vice versa.

It will take some work on your part to get there, but you can DO IT!

Walt Disney once said, “We keep moving forward, opening new doors, and doing new things, because we're curious and curiosity keeps leading us down new paths.”. To be successful is to have no limitations, it is to work through all obstacles, to have extreme passion for life, and love for others, and this seems to be the underlying motto of Amber Drake’s life. Drake is a highly accomplished, world-renowned, and published book author, freelance writer and editor, inspirational speaker, an inspiring teacher, a well-reputed canine behaviourist, a canine cancer researcher, and the CEO of Canine Companions. As a child, she was keenly interested in the veterinary field and this interest paved way for her to be the successful businesswoman she is today. Starting with an Associate of Science degree in Biology in 2007 from Jamestown Community College, she has since expanded her knowledge horizon by acquiring a Bachelor of Science in Biology degree with courses from both SUNY Fredonia and Cornell University, followed by a Master of Arts Degree in Education (2011) from Ashford University, a Post-Master’s Educational Certification, and a Doctorate in ABD from the North Central University, Prescott Valley Arizona. Driven by her love for dogs, she regards her company, Canine Companions, as her greatest work-related accomplishment. She wrote the book, ‘Dog Talk: What Your Dog Wants You To Know’ as a comprehensive guide to understanding the behavior of dogs. She has since been involved in numerous writing jobs in the field, varying from writing about veterinary medicine for pet insurance companies to serving as the Co-founder and Vice President at Preferable Pups. She actively engages in content management, copywriting and research work, ghost-writing, and content marketing for organizations around the world. In addition to being an incredibly successful writer, canine behaviorist, and a CEO, she is an educator as well as an experienced curriculum developer. She is a Professor of Veterinary Medicine at Mentoray, where she teaches and develops curriculum. She is also an Adjunct Professor of Professional Sciences at Kaplan University and an Adjunct Instructor of Biology at Jamestown Community College (10+ years). Drake is a woman of many skills. She has been in the freelance content writing field for almost 7 years now with a vast amount of writing experience throughout the past ten years. She is a proficient copywriter, blogger, and has years of experience in content management and development, content creation proofreading, written communication, and correspondence. She has a number of certifications including, but not limited to, Canine Psychology, SEO, Content Marketing, Social Media Marketing, Snapchat Marketing, and Google AdWords. Drake is a woman of extreme passion with great love for her work as a canine behaviourist, writer, and college professor. You can read more about her on her website http:/www.AmberLDrake.org or connect with her on her Facebook page, www.facebook.com/specialistamberdrake.

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