“Financial freedom”—wow, these words simply sounds divine. For who else doesn’t want this kind of freedom? Some people simply dream about it, some people want it, yet can’t make it happen, while others are already living that LIFE. It’s one thing to have enough money to get by, having enough savings in case of emergencies, but it’s a whole lot different if you achieve financial freedom.
So, the question now is how to achieve financial freedom. Of course, it’s just natural (and human) that people everywhere are searching for ways and ideas on how to savor the life that they dream of---achieve financial freedom and independence. Usually, people want to aspire this kind of life, but sad to say, most of them never get to actualize these goals, not because of their laziness, or unwillingness on their part, but because they don’t know how and how to start.
Yes, you have a job alright, you got savings (in case of rainy days) but unfortunately, having a job and savings alone does not guarantee us to achieve financial freedom. The reason—these methods lack something that makes us financially free and independent. What I’m talking about is the power of leveraging—yes, leveraging or using a small amount of your money to make an investment of a much larger value.
But we’re not gonna concentrate there. Let’s talk about some of the ways on how to achieve financial freedom that works: 1. Invest in shares. There are various shares you can buy, and the most common type is the ordinary share. These shares simply represent the company’s ownership. For instance, a company has 100,000 shares worth $1 each and if you buy $1,000 of shares, you own the company’s 1%.
In short, when you buy these shares (a.k.a stocks or equities), you become a part-owner of that business. 2. Investing in properties. If you prefer a long-term investment, then property investment is by far the excellent medium to choose. There may be certain times wherein property prices devaluate, but they usually recover that loss, and in the long run, the value will go up again.
3. Stay away from bad debts--but remember that not all debts are ‘bad’. There are good debts and there are bad debts. Examples of bad debts are car payments and credit cards, wherein you’re basically paying somewhere like, 30% for these debts. However, if you got a mortgage for a buy-to-rent property and you have occupants paying off, then it’s a ‘good’ debt as it generates you more cash.
This is what I mean by the power of leveraging when you achieve financial freedom.
The author of this article,Amy Twain, is a Self Improvement Coach who has been successfully coaching and guiding clients for many years. Let Amy help you find Happiness in Your Work Place. Click here to learn how to become a Happy Worker.