Winning the Money Game, Being financially free.
There is a misconception among people about the concept of financial freedom. Many believe that making money is all that's needed to win the money game.
But making money is just one part of the equation.
To win the money game, you need to become free first beforre financial free.
You need to be free before you can become rich or financially free.
Attaining freedom takes a number of steps as listed below.
1.The freedom mindset:
Having a freedom mindset means that your thoughts, your beliefs and your habit support you in creating financial freedom.
One needs to be aware of supportive and non supportive beliefs on his journey to financial freedom so as to deal with the non supportive beliefs holding you back from making money. Some of the non supportive beliefs were innocently handed over by parents, schools, neighbors and even religious organizations.
Even the belief that earning a lot of money comes before financial freedom or is the only index for financial freedom is flawed and non supportive. Others are if i work hard, i will be financially free. I'm not worthy or productive enough to make it, money do not grow on plants, if I'm not working, i will not make money. Most of them are subtle and look real but they only work to kill the germ of financial freedom.
If you continue to have non supportive beliefs about money and wealth, chances are high you will not be financially free.
They are weeds in the garden of your mind and you must work to clear them.
2. Have a Goal and have a plan. You must be purposeful and intentional in the the pursuit of financial freedom.
You must also have clarity in what you want as freedom. You need to have a clear objective and clear plan of action as to how you're going to become free.
How much money do you need in order to be financially free? What's the number?
Since the goal is to be free, how much do you need to be earning without working, that is how much passive income you need? This amount will determine the strategy you will put in place to achieve financial freedom.
Financial freedom is having enough passive income to live the lifestyle you desire.
What's your freedom plan? 95% do not have any freedom plan, no wonder 95% of the people are poor.
Here's the equation:
No specific objective + no specific plan = No financial freedom.
3. Spend less than you earn.
Having money is like having soldiers. Your soldiers are your freedom fighters. They are the soldiers that help you fight on to financial freedom. If you eliminate all or most of your soldiers(money), you can't be financially free.
Knowing exactly what you earn and what you spend on monthly basis is critical to your financial freedom.
Once you notice your spending pattern, you can accelerate your journey to financial freedom by ELIMINATING UNNECESSARY EXPENSES. Having a budget can help you achieve this.
Rich people think long term, poor and broke people think short term and immediate gratification. No matter how much you earn, do not spend all your earnings.
Rich people have one eye in the present and one eye in the future but poor people have both eyes in the present.
Poor people say they are going to earn more money since they are working and so they can afford to spend all they have today. They hooe to save when next they earn. You know what? Even if they earn more money, they are going to be broke, why? We are creatures of habit. Our habits repeat. The spending spree will continue ad infinitum.
If you believe you have to spend it all now on pressing needs, when your earning increases, those needs will also increase thereby forcing you to also spend all. It is habitual.
Spending money is interesting, so you don't feel you're doing anything wrong, yet your feeling is not real.
This reports on the type of car you drive, the type of food and where you eat, what you wear relative to your earning. No matter what the case may be, don't allow your expenses to be more than your income.
4. Manage your money or your money will manage you.
Rich people are usually good money managers even before they became rich while poor people are poor money managers.
Managing your money means allocating it to different accounts for different purposes or usages.
Your money like football players needs to take different positions, separate accounts or buckets, depending on what they are meant for.
Necessity bucket about 50% ... Daily expenses like electricity bills, car repairs etc
Emergency bucket 10%.... In case anything happens, sudden event like accident etc. You dont touch this bucket unless in the event of eemergency.
From the psychological point of view knowing how to keep money helps you attract more money.
Learning bucket 10%. This is for personal development and skill acquisition.
Fun budget 10%. This includes recreational activities, vacation and budget for other forms of fun.
Investment bucket 20%. Allocation for investment is necessary because investment makes the journey to financial freedom easier.
When this money management system is applied, miracles happen on your financial goals and game.
If you don't manage your money, your money will manage you, and that is a sure way to financial disaster. You feel crappy when your money is managing or running your life.
Money management is important for your financial freedom regardless of what's going on in your life
5. Earn a lot more money.
The more money you have coming in, the more you can save, the more you can invest, the more you can manage, the more you can build and pave your way to financial success.
Earning a lot of money is going to make financial freedom a lot more easier and faster.
Everyone can earn a lot of money and a lot more money but to do so, you have to change your thinking and your strategies.
To know how to make a lot more money, you need to understand and answer the questions: where does all your money come from? All your money come from other people.
So why would anyone give you their hard earned money? The primary reason they will give you their hard earned money is that you're solving a problem for them. You have to present yourself as having the solution to their problem.
An entrepreneur is a person who solves problems for people at a profit or for a pay.
To earn money, you are going to have a specific problem that you solve for people, it could be a big or small problem.
Consequently, if you are going to earn more money, you're going to solve that problem for more people.
But the problem with many people is:
1.They don't know the specific problem they solve.
2. They can't articulate the specific problem they solve.
3. They don't solve problem for a lot of people. If you want to to earn a lot of money, help a lot of people. Lot lot.
The big question: How do you set yourself or your business up to solve problem for a lot of people? The good news is that there are ways and strategies to do that which depends on your type of business and stage in business cycle.
6. The power of appreciation. This is also called the power of compound interest which has been adjudged the seventh wonder of the world.
Investing for appreciation happens when you engage your soldiers to produce babies and these babies grow up to join your freedom fighters and so on and so forth.
Compound interest and reinvesting your money are the most popular way to be freedom.
If you don't invest, your soldiers lie idle and inactive.
Understand and seek investment opportunities in assets that appreciate.
Real estate is good deal because it continues to appreciate.
One secret in real estate business, you make your money when you buy not when you sell. The trick is to know what to buy, how to buy and when to buy. It's a learnable skill.
Investment on a reliable platform like savenow.ng is compound interest based.
7. Create massive passive income.
Having a lot of money does not necessarily mean that you're financially free. Your focus should be to create a lot of passive income. Focus on how to make money without your own time and energy involved.
Creating multiple streams of passive income is a way of becoming financially free fast.
8. Contribution. If you have the wherewithal to be financially free, you owe it a duty to be so you can help those who do not have the wherewithal to do so.
The law of Karma, what you give is what you get applies in finance in greater measures. Do not wait until you have a ton of money before you make it a habit of contributing financially to others. The very rich understand benefit f philanthropy, that is why they stop at nothing to give back to the society.
To achieve financial freedom, you must first step into the awareness stage. This entails knowing the 8 elements that comprise the freedom formula.
The second stage is Understanding. You must learn the inner workings and specifics of each of these elements, when, where and how to use it.
The third and final stage is Action. You need to put this to practice. In order words, you actually have to execute them. Take each understand it and do it.
It is one thing to know what to do but a different thing to do it.
People say that knowledge is power... But knowledge is power only when used. Information in your brain is useless until you use it in the real world.
You dont need tto be among the 95% who do not take action. You have to be committed to make it happen.
Just as we are creatures of habit, there are two types of habits: Doing habit and Not doing habit. Most people are in the habit of not doing.
So what's the answer? The answer is you need a little bit of help, you need support, you need a leverage to make it easy for you to achieve financial freedom.
I am delighted to recommend savenow.ng, an automated platform that helps people save, invest with bumper returns and access loans at single digit interest.
guide, you need an expert to hold your hand and push and pull you and teach you and motivate you to do whatever it takes to become financially free.
The freedom first course was designed to help you implement the steps to freedom in your life.
You have to be free first before being rich, that is financially free.
What we make out of life boils down to the choices we make, a choice partner, a choice of where to work, a choice of whom to listen to, a choice of what to learn etc
Choose now to join me in this course because of the law of attention which says, where attention goes, energy flows and results show.
Why SaveNow Savings?
That's a fair question and we will try to answer it this way. Your security, your financial freedom, your basic human needs, your demand for excellence, your need to make a living, your social settings and interaction with others are all our concerns. We value your happiness. If this is not enough, We are determined to handle all your financial services at best we can. The quality of our service delivery is what elevates us above all in this business. We are just passionate about helping you grow individually.02-Aug-2019 10:55 PM
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