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Financial Freedom - 3 Things You Must Do & 3 Things You Must Avoid to Achieve It

Achieving financial freedom is not as difficult as you imagine - however, there are THREE absolute things you must do and avoid to achieve it. If you write these down, paste them somewhere you can see everyday and then follow through, financial freedom is yours to have and enjoy!

No 1: Attitude

"Attitude" includes cultivating positive thinking, beliefs and an attitude that you absolutely KNOW you can achieve financial freedom. All self-made wealthy people have that. Think Donald Trump or Robert Kiyosaki. At first, you have to develop a little voice in your head that corrects every limiting belief you have about yourself. Wake up every morning and instead of worrying about your lack of money; ask, "How can I make more money today?" It works!

No 2: Plan

If you don't have a plan or a financial budget to steer you in the right direction, you'll be going nowhere. All profitable businesses do this, so run your personal finances in the same way as a business. Sit down and put that pen to paper - plan, plan, and plan. Revise your plan. Play with your plan. Dream about your plan. The possibilities are endless.

No 3: Save & Invest

To obtain true financial freedom, you need assets and investments that will produce your income for you, so you can devote your time, talents and resources to doing the things you really want to do - and not being tied to a job you don't like. To do this, incorporate a savings strategy into your plan, and then turn those savings into investments - as soon as possible.

Managed or Mutual Funds are the simplest and very good method. Set up a fund with as little as $500 or $1,000 and have your savings directly debited into it. Then set up another one, and then another. When you get to six (the famous 6-pack fund model) you're on your way. Get some good financial planning advice and give it time - so remember all markets fluctuate over time. So think long-term, not short-term.

3 Things You Must Avoid to Achieve It

No 1: Unconscious Spending

"Unconscious Spending" is the number 1 culprit behind all our personal financial woes - and our country's economy as well. The experts say that the lack of goals is often the underlying cause. So, set your goals, plan, and always have a budget. Do you really need absolutely everything you buy? Ask yourself every time you go to buy something, "Do I really need this?"

The answer is typically - NO! Think about it - surrounding yourself with lots of little materialistic things or wonderful, glorious financial freedom that will allow you to do, have or go anywhere, anytime or any place you want - forever. It's not rocket science.

No 2: Borrowing

Credit cards and personal loans are the bane of our society. Cut up your credit cards until you can master your spending habits. If you must have one, just have a small limit of only $500 and pay it off every month without incurring any interest or anymore debt. If you're already over your head in debt, set up a debt-free plan. If you need help, seek a consultant or financial planner who specialise in this area. There is always a way out - so get going NOW!

No 3: Negative Thinking

Stop! You're probably doing it right now. And it's also very common, so don't beat yourself up every time you start thinking negatively. Its all due to years and years of programming - social, sometimes parental, and environmental. But you can change that. Study or read books and articles about positive thinking, creative visualisation - even meditation helps. Join a group - or start a club up yourself and only invite positive people. To paraphrase Winston Churchill, "A fanatic (or troublesome person) is one who will not change his attitude or look at new ideas". Stubbornness is not an admirable attribute.

Start Now

OK, what are you waiting for? Financial freedom is just around the corner. Maybe it's a longer street for some to reach that corner - but its there. Trust, believe, and know that it's there - and most importantly of all, know that you DESERVE IT!

Source: Universal Accounting : http://www.universalaccounting.co.uk

Ann Marosy is an accountant, consultant, and former university lecturer. She was formally a Financial Controller of a Fortune 500 Company, and Finalist of SA Executive Woman of the Year. Ann is the author of 'The Money Program' book series, which includes managing the stages of wealth creation, formulas for budgeting, debt-free program and investment strategies. Visit: The Home of The Money Program

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