Financial freedom looks different for everyone. It might mean working for yourself, never worrying about how you will pay for bills, always having x dollars left over each month, having a paid-for house and mode of transportation, carrying zero debt, having multiple streams of income, earning x dollars every year, reaching a target investment fund of x dollars, and the list goes on.
Everyone has a unique definition of financial freedom, which is usually not out of reach. Yet, most people never attain financial freedom and independence during their lifetimes because they're unwilling to do what's necessary.
6 Steps To Reach Financial Freedom
There are six steps involved in reaching financial freedom and independence. You will need to finalize all the details, but below, you will find a framework to utilize to reach your financial goals.
Moreover, always remember to identify the why behind your financial intentions; this will help you cross the finish line when you run out of gas. The intention behind our actions is everything.
The Six Steps
- Step 1: Establish Your Financial Goals
- Step 2: Determine The Why Behind Your Financial Goals
- Step 3: Create Your Plan
- Step 4: Ask Yourself Are You Willing To Do What's Necessary
- Step 5: Decide When You Will Execute Your Plan
- Step 6: Consistently Work Towards Your Goal — During All Seasons
If you decide in step five that you're unwilling to do what's necessary to reach your goals, know that you will have to endure the pain of regret and failure throughout your life.
Too many people are oblivious to the financial success they can experience if they create definitive goals, take consistent action on their goals, and implement discipline. It's more than possible for you, but you need a game plan first, or you will get on the road to financial freedom with clear directions.
The Six Steps Example
- Step 1: Establish Your Financial Goals
- Earn $100,000 per year.
- Step 2: Determine The Why Behind Your Financial Goals
- I want to easily be able to support my family and invest 50% of my income to create financial freedom for myself and my family. I want to also donate 10% of my earnings to rehabilitation programs for ex-convicts.
- Step 3: Create Your Plan
- Apply to 30 jobs each day — totaling 210 jobs per week.
- Step 4: Ask Yourself Are You Willing To Do What's Necessary
- I am willing to do what's necessary to reach my financial goal.
- Step 5: Decide When You Will Execute Your Plan
- My plan goes full throttle on January 1, 2XXX.
- Step 6: Consistently Work Towards Your Goal — During All Seasons
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any significant financial decisions.
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