Gaining financial freedom may seem like a very long journey to most people but it really isn't that difficult.
Want get free really quick? Take a deep breath and slow down.
Now that you are calm you can think more clearly.
Freedom for everyone is different.
It can mean extra hundreds, thousands and even millions depending on your situation.
So how do we get there from here? That is the big question.
10 Tips: 1- Conserve: Conserve your spending by utilizing a budget.
Tighten up on all of your loose spending.
Anything that you do not really need to spend on right now, lose it.
You can not bring more money into your life if you can not make the best of what you already have right now.
2- Debt Elimination: It is time to rid yourself of all debt outside of your home mortgage.
Yes this may include getting rid of your car loan.
My car loan you may ask? Yes you heard it right.
Most people will go out and purchase a car that they really do not need and can afford just because it is easy to get financing.
I am not saying that you shouldn't be driving your dream car, just not yet until you have become financially free.
Sell that car and get a cheaper more affordable one.
3- Six Month Emergency Fund: Add up your income and then subtract all of your living expenses.
How much do you have left over? Now take that amount and start to save a six month emergency budget.
This is a fund that you should have in case you lost your present income for any reason.
If you already have one established, then you can go on to the next step.
4- Lump Sum Payments: Now it is time to do the math.
Add up all of your monthly income and then subtract all of your living expenses.
Living expenses doesn't mean stuff like all you can eat wing night at the pub.
Living expenses means any money that you spend on stuff like rent, mortgage, utilities, food, clothing and transportation ETC.
What ever you have left over, take that amount and then apply 85 percent of it directly on your outstanding debt.
The other 15 percent can be used for fun and leisure.
5- Increase Income: Work some overtime each week or even find another part time job if possible.
This extra income will assist you to chop down all outstanding debt quicker.
6- Passive Income: Look for a passive income opportunity to get started with to give you some leverage.
Passive income is a stream that you will have to build initially but eventually will keep coming in even without your direct supervision and effort.
This is what the wealthy used to become rich.
There is only 24 hours in a day and only so much that you can do all by yourself.
Passive income will lend you extra hands.
7- Financial Education: Start reading money books like the stuff that best selling author and real estate tycoon Robert T Kiyosaki writes.
These types of books will teach you how to raise your financial IQ's.
They do not teach this kind of stuff in school.
You can be a very academically inclined but still struggling in life.
Most people struggle because they have very low financial IQ's.
Now it is time to raise the bar for yourself.
Learn about money and how it really works.
8- Massive Action: Start taking massive action towards your financial goals.
Massive action will speed up this whole process and before you know it, you will become financially free.
9- Avoid Procrastination: The best time to start taking massive action is now o'clock, don't wait for tomorrow because that may never come.
If you put this off, you may never take any action and nothing will change for you.
10- Passion: What will you be able to do if money wasn't an issue right now? Go back to your child hood and start dreaming just like you used to.
What is your real passion in life? Find out what this is and write it down.
This will be your fuel that you need in order to speed this whole process up.
Behind every successful person is a drive.
Find yours.