Financial Freedom! Is It For You?

By: Yvonne Finn

Financial Freedom!



What does financial freedom mean to you?

Does it mean buying anything you want regardless of how much it cost?

Does it mean spending your days in ways that enrich and empower you instead of being at the beck and call of an employer?



Is there anyone in the world who wouldn't agree that the dream to be financially free is a universally desired goal?



But how does one create and maintain this sought after state of financial freedom.



Surely, it is not by working hard at a job. We've all heard the grim statistics of people working hard, only to end up old and very poor.



Having a job is not a secure method to achieve your desire to be financially free!

Many employees, from clerks to CEO's have found themselves unceremoniously dumped from jobs they thought were secure.

Even employees who are lucky enough or maybe foolish to hang on into retirement, working for someone else, are finding that the pension that they counted on is insufficient to cover their hoped for and deserved life of ease.



Taking an informed, involved and hands on role in your finances is the only way to be financially free.

No one else can be as passionate about your financial goals, dreams and desires as you are.

Others may or may not share your commitment to achieve your financial independence, however, that does not reduce your responsibility to make every attempt to achieve it.



Very often, when I talk about money and how freeing it is to have enough to live a self-directed life, there is always one person who will say," money is not that important" or "money can't buy happiness".

Of course it's true that money cannot buy happiness, nothing can, for happiness is a state of mind that you choose for yourself, regardless of circumstances or the attitudes of others.

And money IS important for the things that money CAN do, such as good schools for your children, spending your time how you choose, supporting charities and so much more.



So, how do you achieve financial freedom?

Acknowledge and accept that whatever financial state you are in presently is a result of the actions you have taken up to that point in your life.

Then decide that you want to create a brighter, more secure financial future for yourself and those who depend on you.



Do an in-depth financial analysis beginning with your credit rating.

If your rating is not a good one or you don't yet have a credit history, begin the process of restoring or establish one.

Excellent or even just good credit will be your solid foundation on which you will build your financial freedom.

After addressing your credit score the next step will be to learn about wealth creation tools and strategies.

Get help with this step by leveraging the knowledge of a trusted team of financial planners.

Enjoying a life of financial freedom need not remain just a distant dream.

Get passionate about your desire to build wealth, make a new plan and take well-advised actions.



Create a new plan and achieve your goals.

You provide the dreams and the desire and we will provide the sound, customized advice and planning that will help you build wealth and achieve financial independence.

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Author Bio

Committed to life-long learning and helping others achieve their financial goals of independence and security, Yvonne is known as the "go to" person to her friends, clients and business associates. Go To Her Here!

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Personal Finance Tips

5 Key Personal Finance Problems - Which One Do You Want to Overcome? by Bruce Hokin (FCPA)

You can take control of your personal finances by applying the lessons listed below.


Problem #1. Spending Without Knowing Your Limits


As in business, you will not last long financially if you spend without regard to your income. Knowing your spending limits is not hard to do. Just find the answers to these 4 easy questions:


Question #1. What is my take-home income per pay? (that is your total income less taxes)


Question #2. What do I need to spend to live?


Question #3. What is the difference after taking spending from income?


Question #4. Can I save enough for my future from the answer in Question #3?


There are many tools to help you gain answers to these questions. You can find many on the Internet. Helpful Hint: Find one that helps you set your savings targets, checks your ability to meet the targets and then shows your progress towards your goals.


Problem #2. Spending Without Setting Savings Targets


It's OK to spend to the limits of your income but that does not provide you with any buffer for urgent purchases, or protect you from a financial emergency. Urgent purchases could be renewing a broken fridge or stove, calling a plumber to fix a broken pipe or having to spend for major car repairs. Financial emergencies could be temporary loss of income or hospitalization of a family member. How would you survive financially in any of these situations?


You can begin to save today, it's easy. What if you went without your bought lunch each day at work? That saves you $1,000 per year on $5/day. What if you reduced your Starbuck's coffee by 1 each working day? That's another $1,000 per year on $5/day. Just those two amounts alone can mean a holiday for you, the beginnings of a savings plan, or an emergency buffer.


If you set a target of 10% of your take-home pay each payday that would be a good start. If you think creatively, you are sure to come up with ways to achieve this. Think of the peace of mind that would bring.


Problem #3. Spending Without Knowing How to Save


There are many easy ways for you to save money that allow you the freedom to spend when you see something you really want. Some of these are:


1. Don't buy on impulse. Ask yourself 2 or 3 times "Do I really NEED this?" before you buy. If you cannot answer with a resounding "YES " let it go.


2. Don't buy things JUST because they are on sale. Only buy things you need. If you do need them wait a few weeks the price may fall even further.


3. Don't buy the latest fashion items at the height of the season. Just wait a while. The prices usually reduce.


4. Don't compare yourself with others and what they have. They may have purchased making the same finance mistakes as you.


5. Set yourself a savings target. Put this money aside each payday BEFORE spending any of your pay.


Problem #4. Spending Without Feeling Satisfied


Spending can leave you feeling pretty shallow and unrewarded when you purchase on a whim or fancy when you really know you cannot afford the item. What's more you may not even use it. What a waste!


To really FEEL GOOD ABOUT SHOPPING and spending you need to know these 4 things:


1. My budget allows me the freedom to purchase this item


2. I have the cash put away already for this purchase (even though I will use my credit card for the transaction).


3. This purchase is something that I really want and will use.


4. I have purchased this item at the best possible price, saving as much as I can.


Problem #5. Spending Without Caring About Your Future


Unless you are planning for your future and financial security, you cannot be really happy. There are always worries lurking in your mind about how you would survive in a financial emergency if you have no savings. It can be very rewarding to see how quickly your savings multiply over time with only a small investment each payday.


Did you know that by saving just $5 every day this would grow into $1,867 in 12 months at 5% interest and then it grows into a whopping $10,343 in 5 years? Isn't your future worth investing in?


Why not start to overcome your personal finance problems today? Looking back you'll be so glad you did!


If you click on the links below you will be taken to a great budget solution. It helps you set your savings targets, checks your ability to meet the targets and then shows your progress towards your goals.


Bruce Hokin has designed a simple budget tool called "5 Steps to Freedom Personal Budget." It based on his extensive background as a qualified, experienced accountant, manager, consultant and financial adviser. You can download this powerful budget assistant today and be on your way to financial freedom within the hour. It is available at his website www.freedom-personal-budgets.com.

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