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Five Steps to Financial Freedom
divinecaroline.com — Everyone’s definition of financial freedom is going to be different. My general rule of thumb is that financial freedom is living a life you design, one that ’s not owned by any one else. Financial freedom might mean not living paycheck to paycheck, or having a nest egg. So how do you get there? Here are five simple steps to get you started.
mpind176- 235 diggs
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- meandnips, on 09/30/2008, -0/+14Excellent advice, and very close to what Suze Orman preaches. Personally, I like to set financial goals because it makes me mindful of where I'm spending my money. Left to my own devices I will nickel and dime myself into the red, but I won't do that if I'm tracking my money and saving towards a goal.
- ritita, on 09/30/2008, -0/+11I think it's definitely a good idea to plan for the future.
- JackieTatum, on 09/30/2008, -0/+3When people don't plan for the future then they can't handle situations like the financial crisis we're going through right now.
- simplesue, on 09/30/2008, -0/+8Getting rid of debt tops my list of things to happen to be financially free, so # 3 is some good advice.
- JoJones, on 09/30/2008, -0/+6It's also helpful to consult a professional, a financial planner or even someone in the family who is very successful with their finances.
- cquinnd, on 10/01/2008, -0/+1Check how that family members success matches up with the points from the article.
Some people can find success and still not have good financial skills.
- cquinnd, on 10/01/2008, -0/+1Check how that family members success matches up with the points from the article.
- KatoHamatsu, on 10/01/2008, -0/+8I'd let go of debt if it'd let go of me.
- KatherineC, on 10/01/2008, -0/+5Just don't rely on a bailout. hmmm
- cport11, on 10/01/2008, -0/+4its called save some money for tough times...
- RLWaite, on 10/01/2008, -0/+9Step 6: buy a go cart
- SuperWinner, on 10/01/2008, -0/+1Step 7: Paint flames on it.
- WoogieHauser, on 10/01/2008, -0/+5You're always supposed to save 10%. I bet less than 10% of people actually do.
- KathyMoore, on 10/01/2008, -0/+0Is it 10% or 15%?
- allisonmmaureen, on 10/01/2008, -0/+3Financial Freedom is the oxymoron of the 21century.
- crumpgeri, on 10/01/2008, -0/+2American Express should change their campaign from "don't leave home without it" to "don't leave home, period". That advice would have helped me.
- sashapave, on 10/01/2008, -0/+4Sometimes the best advice is the most painful.
- diedrewalker, on 10/01/2008, -0/+3Financial freedom starts with education when you are young. I wish I would have learned more about 'co-sign' than 'cosine' in highschool. Trigonometry got me nowhere, credit got me here.
- VeronicaSawyer2, on 10/01/2008, -0/+1Completely agree. Real life skills somehow took a back seat to abstract mathematics.
- robbh66, on 10/01/2008, -0/+1#1 - Don't go to grad school at a notorious party school.
:/ - algaeturd, on 10/01/2008, -2/+1Buried.
"paying yourself" and "investing in your future" are the same things...simply saving and investing. So it's actually 4 steps to financial freedom. Plus, there's this:
" It may seem like you won’t be able to live on 10 percent less, but trust me—you will find it’s just one less latte a week."
How much is this person making? $150 per week?- cquinnd, on 10/01/2008, -1/+1What is your return on investment?
Paying yourself and doing nothing else means the value of that money remains flat.
Investing in your future means you are trying to do something with the money to increase its value, or the value of what you use it for.
- cquinnd, on 10/01/2008, -1/+1What is your return on investment?
- MimiMcGoo, on 10/01/2008, -0/+1The banks on wall street could learn a few things.
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