Financial Freedom by
Money Smart Guides


Financial Freedom - To me, financial freedom means not having to work if I don't want to. It doesn't mean I am retired, laying on a beach all day long, unless that is what I really want to do. If I want to work part-time at a bookstore or volunteer all day I can because I have the financial freedom to do as I please.


Saving Tips - My best money saving tip is to simply pay yourself first. I have transfers set up so that when a paycheck hits my bank account, there are transfers that take money out of my checking account and move it to savings. When I see my checking account, I see what is left over, which is what I have to live on until I get paid again.
As for shopping, simply delay purchases by shopping around. There are all sorts of apps to compare prices and websites that offer discounts. Paying full price is a fools game.


Passive Income - Passive income is imperative if you ever want to be financially independent. I realized early on that working a full time job isn't going to allow me to retire by 40 or 50. If it would, everyone would be doing it. But they can't. If you're smart, working full time and saving will allow you to retire by 65. Anything sooner and you need to create other streams of income, through rental properties, investment income, side jobs, you name it. Anything that brings in additional money that is also worth your time. There is no point in busting your butt for an hour for $3. It's not worth it. You need to find things that generate $15-20 per hour or more.


Easy Way to Prosperity? - No. If there was, everyone would do it. There is no get rich quick scheme. You could mention winning the lottery, but 90% of winners are broke after 5 years. You have to learn to live below your means if you ever want to be rich. If you always spend more than you make, you will end up poor, regardless how many times you win the lottery.


Where to start? - With yourself. You need to be honest with yourself and decide to change your life. If you aren't honest with yourself, you are just going to go through the motions for a few months and then revert right back to the old you. It's like with dieting. People think that once they hit their goal weight, they can go back to the burgers and pizza. They can't. It's a lifestyle change. So is being better with your money. You decide to change your lifestyle and need to for the rest of your life.




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