Achieve Financial Freedom.

in #hive-167922last year

Friends, what do you think? What do we want to achieve in life? Means what is the ultimate goal of our life. For some of you that good job can be good salary or luxurious life. But friends the reality is that we want to achieve a happy life. And only for a good life we ​​run after money. Do 9 to 6 job and obey Boss. Knowing that we can do something different and better, ignoring it, we go to work every morning.
Because now the goal of our life has changed to just monthly salary. But to achieve financial freedom, you will have to do something different from regular life. With which you will be able to control your finance well. And you will also be able to create a good wealth. Friends, to achieve financial freedom, you should have clarity as to why you want to do this. This can be achieved for multiple regions. Such as


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1. Financial Independence

2. Self Sufficiency

3. Financial Stability

4. Flexibility

5. Wealth Creation

6. Achieve financial goals.

So friends, let's see how you can complete the financial freedom journey in some simple steps. And you can create a good wealth in your life.

So friends financial freedom

Step 1: Controlling your expenses.


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Now many of you must have noticed that our expenses are much more than our monthly salary. That is why as soon as the monthly salary comes, it gets exhausted within a few days. And we feel that our salary is very low and we cannot save with this much salary. But friends, if you spend under control then you can absolutely do it with money. Now some of you must be sleeping how is this possible? So friends, let me explain this to you with a small example.


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You maintain an Excel sheet. On one side, write the salary amount of the running month and on the other side, write the expenses of the entire month. For the second month also, write the salary amount on one side and the expense amount for the entire month on the other side. Now look at your last month's expenses and check which are those expenses which you can control. You cannot control some expenses. Such as rent bill food expense. But apart from this, there will be many small expenses which you can control and in the same way when you track your expenses for four or six months, you will see that you must have spent some money from this salary, and this is because friends, because now you Know how to spend under control.

Steps 2: Avoiding loans and debt.

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Friends, many times we take help of loan or debt to fulfill our needs. Many times we purchase such things on loan which we do not require. Our salary is fixed but due to social pressure we take loan and buy expensive things. And this thing gives us happiness for some days but after a few months we get troubled due to loan pressure. That is why it is important that you avoid any kind of loan or debt.

Steps 3: Being ready for life situation.


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Just imagine you wake up one day in the morning and go to office and you are fired from the office from some region or your business gets crushed due to market down. And if the monthly fixed income you get stops, how will you handle this situation? That is why it is important that you deposit 3 to 6 months salary in your account slowly. For example, if the salary of an average person is 20000 * 6 = 120000, then this amount or the amount around it should be saved in your account so that your financial discipline remains and you do not come under any financial pressure.

Steps 4: Creating an emergency fund


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Friends, to achieve financial freedom, it is important that you always keep an emergency fund. You must have noticed that as our salary increases in life, our responsibility also increases accordingly. And sometimes we come in emergency situation like wife pregnancy old parent medical expense and kids education. And in such emergency situations, either take a loan or borrow from someone. Due to this our financial discipline gets spoiled. That is why it is important that you always keep an emergency fund of 1 to 2 lakhs safe so that you can handle finances better than an average person.

Steps 5: Creating assets and wealth.


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To achieve financial freedom, it is important that you do not stick to only active funds. You should also focus on passive income. You can give online classes by learning some small skill.

Create a blog.

Do SIP.

Open a small business.

Otherwise you should invest in stocks.

Invest in bonds.

And generate wealth from it because in passive work you do not always have to give physical presence like active work. That's why you must start passive income.

Steps 6: Enjoying the returns.


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Now you have shown so much discipline and have saved emergency funds by following the financial steps. Avoided loans, saved small amounts and invested. So now the time has come friends. Enjoy the returns of your invested amount. If you want, you can spend it for your needs or you can reinvest the return amount to earn even higher returns. Because remember friends, no matter how many top business tycoons or financial achievers they are, they never enjoy their active income. He invests the money and enjoys the returns.

So friends, if you think that this article can help others also in taking right decisions in their life then please share it with them.

I would like to thank everyone who came to my blog and read till the end and supported me and encouraged me. 🙏🙏🙏❤

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building economic on hive mate

Great post, finincial stability is the reason many multitask and run around 24 hours of the day. Thanks for this tips

Thanks for appreciate and stop by @blackman15. 🙏🙏❤

Yea, keep making good post and I wiil stop by more often.

Follow me for such good posts.

This is a very insightful post,
The points listed here are definitely going to help in achieving financial freedom
Keep it up

Thanks for appreciate and stop by.

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