Guaranteed Recipe To Achieve Financial Freedom

Financial freedom or the freedom to do and have all that you are willing to work for or earn is a simple concept. Why then does is seem to be so difficult to achieve?
In fact according to the 20/80 rule, 20% of income earners enjoy 80% of the wealth. What does that leave for the other 80%? Actually it leaves a lot. There are no limits to what anyone can achieve or earn. The only limits that exist are in our way of thinking. We can either think from a perspective of lack or we can think from a perspective of wealth and abundance. In other words, if you have half a cup of tea, is the cup half empty or half full.

With careful planning and persistent discipline financial freedom can be achieved in seven basic steps.

1. Educate yourself in a skill or a trade that you enjoy. Perfect your calling. Always continue to learn new skills. As you increase your internal value so too do you increase your ability to earn. Work effectively and efficiently.
   
2. As you begin to earn, always save 1/10th of your earnings.
   
3. Invest your savings wisely. Obtain the services of an investor who is well versed in this field. Do not invest in things you are unfamiliar with. If an investment seems too good to be true, it probably is.
4. With your savings ensure a future income for yourself so that when you will be retired or unable to work you are financially sound.
5. Invest in a home for yourself. Acquire ownership that will build equity. Renting accommodations may be necessary until enough savings are set aside to make an adequate down payment to purchase. Keep your rental home as inexpensive as possible so that you can maximize your savings. As soon as is feasible, purchase a home, but purchase wisely. Keep all expenditures for home, car, food, clothing and all necessary expenditures that go with them within 7/10ths of your take home income.
6. Insure all your assets from loss.
7. Control your expenditures. Do not confuse what you desire with what is necessary. Use no more than 2/10ths of your after tax income for entertainment and non necessities.

As your savings grow, you will have the use of the interest earned to enjoy and purchase the luxuries in life.

Use your earnings wisely and all your hard work will pay off. Follow these additional steps for success:

1. Take good care of your family. Giving your family experiences has far more value than giving them material possessions. Adults and children can play happily without having the latest toy or game on the market.
   
2. Eat healthy, exercise and take care of your physical, mental and spiritual health. A healthy body and mind will provide well for you.
3. Pay debts promptly and do not purchase non necessities for which you are unable to pay. One of the biggest mistakes people make is that they incur too large a debt or they purchase a vehicle and/or a home that exceeds their 7/10ths allowance. A home may be a necessity, too expensive a home is not. This leads to a deficiency in savings and therefore leaves no safety net for emergencies. It also takes away the ability to enjoy the fun activities you choose to do to take away stress, which in turn leads to more stress.
   
4. Motor vehicles although deemed necessary as a means of getting you from your home to your place of work are a liability, not an asset. They always depreciate in value ( unless they are a collectors item.) Until you can afford to do so, purchase only what you need, preferably something that is economical to operate. Walking to work saves on the wear and tear of your vehicle as well as the fuel consumption and  it also helps you fit in some exercise for the day.
   
5. Have compassion for the injured, ill, elderly, shut in and those with misfortune. Aid them within reasonable limits. What you give, whether it be money, time or talent will be returned to you and more. Life is about giving.
6. Some people feel that fortune is the result of good luck. Close examination often reveals that good luck follows opportunity, but seldom comes otherwise. In other words, to attract good luck is to take advantage of opportunities when they present themselves and to take appropriate action. Acting on an idea will lead you to the success you desire. Just thinking about the idea accomplishes nothing without the action.

This is a no fail recipe for financial freedom, albeit an opportunity for change. The most important component of this recipe is that you always save 1/10th of your earnings. Act on these points with genuine effort and good fortune will be yours.