Financial Freedom is one of the most common topics of discussion to everyone.
Almost everyone work towards achieving Financial Freedom, though each individual will have a different goal or benchmark as their definition of Financial Freedom.
For some, having sufficient savings to cover the next six month might be a good goal whereas others will try to achieve a cash-cow or a golden eggs laying goose as their goal towards financial freedom. No matter what the goal is, everyone has to follow a specific path towards achieving their financial independence.
In this article, I am going to list some of the well-followed principles and hoping this will benefit you to achieve your financial freedom.
You need to think BIG if you want to be financially free. There is nothing wrong in an employment however the bitter truth of life is that an employee’s job is always at the mercy of the employer. There is always a factor of uncertainty of employee’s job in the employee-employer relationship and this uncertainty factor takes away the financial freedom of any employee. You should always give a try to become a self-independent owner so that you can take the important decision yourself instead of executing your employer’s order. Just the feeling of being an owner and working for yourself, gives a big boost to generate the required up-thrust for you towards financial independence, instead of the feeling of living paycheck-to-paycheck your whole life.
Adopt a Strategy
Adopting a right strategy, is the key to any success. Simply firing the bullets in the air doesn’t do good to anyone. Picking a right strategy which suits your needs, will definitely lead you to make your fortune. Don’t Forget – No strategy is a good or bad strategy. Don’t underestimate or let go your preferred strategy just because you read millions of negative articles by others online. Most of the remarkable discoveries in the world are the outcome of unique strategies.
Focus is an easy to tell but hard to adopt keyword. You really need to master this magical strength. Once you learn how to focus then you will be able to easily handle the ups-and-downs towards attaining your financial freedom. A well determined focus will make your journey free from all obstacles. It will help you find new alternatives towards your financial independence and will always keep you on track.
Know Your End Goal
Knowing your End Goals, is very important step. It clearly defines what you want to achieve as your end goal. A directionless effort leads to nowhere. Numerous focused strategies & your sincere efforts will work in your favor only if you have a well-defined end goal. Without defined goals, you are like a ship that has set sail with no destination (by Fitzhugh Dodson). An end-goal will lead you to follow your journey of financial freedom in right direction. Well defined goals are like Dreams with Deadlines.
“If you’re bored with life, and you don’t get up every morning with a burning desire to do things — you don’t have enough goals.” — Lou Holtz
Enjoy the Journey towards Freedom
The path to financial freedom doesn’t come without hurdles. You will experience more downsides than upsides when you will start the journey. Instead of feeling depressed or losing your patience , try to accept the obstacles as lessons learned . Focus on how you could have avoided that hurdle altogether. Use the analyze and adopt approach for all hurdles. You will eventually learn how to tackle the upcoming hurdles without being impatient or getting tensed. This strategy will also help you start enjoying the surprises in life. Over the time, you will learn how to easily conquer the issues effectively. As an added advantage, you will move ahead towards your path to financial freedom.
Keep in mind – If plan A fails, remember there are 25 more letters. (Chris Guillebeau)
Set the Right Expectations
Setting the Right Expectations is another important milestone towards achieving your financial freedom. You should know how much is really enough for you? You can never succeed and attain your financial freedom if you don’t know when you stop. Though it is a good practice to continuously re-evaluate periodically your expectations as they can change over the time with life events, but definitely set them and work with the right expectations in mind. Without the right expectations and a well-defined end goal, you will lead towards greediness instead of achieving financial freedom.
Have a Solid Exit Plan
Every Exit is an entry to a new door. There are occasions when things doesn’t go the way we plan. It is pretty common to lose your track and get lost in the dark because of one overlooked misstep. Focused determination, defined end-goal and correct strategies are definitely the best tools to achieve financial freedom but we should all also have a clearly defined Exit Plan. Always set a timeline towards your path to financial freedom and define an exit plan. The exit plan should be carefully defined and it should be targeted towards starting a new path towards financial freedom. Don’t let your efforts go in vain, just because the time was not right for you, instead adopt an exit plan and start a new beginning. The trick to graceful exit is to create a new opening and continue creative process towards achieving the end goal.
“The speed of your success is limited only by your dedication and what you’re willing to sacrifice.” — Nathan W. Morris