The 4 Steps to Financial Freedom
DO YOU BELIEVE FINANCIAL FREEDOM CAN BE YOURS?
DO YOU KNOW WHERE TO BEGIN TO ACHIEVE YOUR GOAL?
WE CAN HELP
While others may offer you dreams of instant results, this site will guide you through the steps needed to make a lasting change that will lead you to your goal.
WHAT DO WE ASK OF YOU?
All that you are asked to do is commit to take one action step daily.
Financial Freedom
means that you are in control of your money, rather than your money controlling you.The 4 Essential Steps to Eliminate Debt that no one else will tell you.
1. You must control spending.
The best approach to this step is to know where your money is going. This can be accomplished by creating a household budget, tracking purchases, and utilizing tools available to monitor where your money is spent.2. Determine wants and needs.
Taking time to decide on purchases based on the cost of the item will allow you an opportunity assess the best value for your money and spend wisely. Do not rush a decision on the major purchases in your life: buying a home and / or buying a car.
3. Eliminate Debt.
You should never carry a balance on a credit card if you are over 30.
The goal should be to have no mortgage on your house by the time you are 40 years old and no mortgage or car payment by the time you are 50 years old.
4. Save, Save, Save.
Remember the saying : Out of sight, Out of mind. Put your money into a savings account without a debit card where you are not tempted to withdraw.
Becoming an expert at step 1 will help you with saving. A helpful hint would be to get a pocket size notebook to carry with you and write every purchase for over $1.00 including the date, item purchased, and the item itself. This will assist you in determining where your money is being spent. You can evaluate if these items are wants versus needs and adjust those purchases accordingly.
You will be further ahead if you can save large amounts of money when before you are 40.
Invest you money in US Government bonds until you are in your 50s, then transfer into safer income producing bonds.