STAGE 3- HOW ARE YOU GOING TO GET THERE?

The third stage on your Journey to Financial Freedom is to design an action plan that will get you moving in the right direction. I suggest that you get help from a financial advisor who has the expertise to assist you.

Your action plan should include these 5 basic steps:

1. CONTROL YOUR SPENDING
Being disciplined in spending is key! Even if you are earning a lot of money, if you can’t keep any of it, you’ll never achieve true wealth.

2. INCREASE YOUR INCOME
Your regular 9-5 job might not be able to generate enough income to pay your bills and meet your big goals. Keep looking for opportunities to earn more.

3. SAVE MORE
It’s not so much what you actually earn, but what you can save that makes the difference. Make a commitment to put aside at least 10% of the money your make.

4. LEARN ABOUT INVESTING
Investing doesn’t have to a mystery! It is your responsibility to learn how to invest wisely. You can read financial articles,  buy books, attend seminars, research online and listen to CDs to increase your knowledge.

5. FOCUS ON PASSIVE INCOME
We can only work 24 hours in one day, so passive income is the key to becoming financially free. Develop other income streams that can earn you money while you sleep!  A viable business can also be your ticket to financial freedom.

Wealth

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