THE TRUTHS THAT CAN HELP YOU AND MAKE YOUR WAY TO FINANCIAL FREEDOM

THE TRUTHS THAT CAN HELP YOU AND MAKE YOUR WAY TO FINANCIAL FREEDOM

Building wealth can be one of the most exciting and fulfilling endeavours in a person's life. In addition to providing a more comfortable daily experience, significant net worth can reduce stress and anxiety as it relieves you of anxiety to provide food at the table or you can pay your bills. For some, this is just enough motivation to start the financial trip.

1. Change the way you think about money

The reason most people never accumulate substantial wealth is that they do not understand the nature of money or how they function.

When you wake up in the morning and go to work, you sell a product - yourself (or more specifically your labor). The same thing is with your assets, which have the same function - to work like you. Every dollar saved is an employee. Over time, the goal is to make your employees work hard, and ultimately they will make enough money to hire more workers (in cash). When you have become really successful, you no longer have to sell your own labor, but you can live on the labor of your assets. In my own life, my whole career is related to my experience of creating or acquiring money that will generate more and more money for me to focus on other investments.

2. With every saved lev you buy freedom

Money has the ability to work at your place - the more you work, the faster and more money you will have. Along with more money comes more freedom - the freedom to stay home with your children, the freedom to retire and travel around the world or the freedom to give up your work.

If you have any source of income, you may start  building wealth today . It can be only $ 10 or $ 50 at a time, but each of these investments is a cornerstone of your financial freedom.

3. You are responsible for where you are in your life

Years ago, a friend told me she did not want to invest in shares because she "does not want to wait ten years to be rich ..." she prefers to enjoy her money now because she does not know if she will be alive after ten years. The right question for me is whether you'll be better when it's 10 years. Where you are now is the result of the decisions you made in the past. Why do not you define the scene for your life in the future right now? Your life reflects how you manage your time and money. Those two entrances are your destiny.

4. Study and adore success and those who have achieved it ... Then emulate it

Choose the features of your idols that you admire and the features you do not like most about your characters. Do your best to develop the features you like and reject those that do not. Convert yourself to whom you want to become. You will find that  investing first in   money will start to flow in your life.

Success and wealth give rise to success and wealth. You have to buy your way in this cycle.

5. If your parents are not rich, do not do what they have done

If your parents do not live the life you want to live, then do not do what they have done! You must break away from the past generations if you want to have a different lifestyle than you have.

In order to achieve the financial freedom and success that your family has or not, you have to do two things.

First, make a firm commitment to get rid of the debt. To find out what debts are to be repaid before investing. Second, save and invest - the highest financial priority in your life.

Buying equity is vital to your financial success. Anywhere else your money can not do as much as you do when you use it to invest in a business that has great long-term prospects.

6. Do not worry

The miracle of life is that it does not matter where you are, where you go. Once you make the choice to take control of your life by building your net worth, do not think about "what if". Each moment that passes becomes ever closer to the ultimate goal of control and freedom.

Every leu that passes through your hands is a seed for your financial future. Be assured that if you are diligent and responsible, financial prosperity is inevitable. The day will come when you make your last payback to your car, house or whatever you owe. Until then, enjoy the process.

7.  Income is not wealth

Most people believe that the key to wealth is high-paying jobs. Yes, it's easier to raise assets if you have more money coming up each month, but the real secret to increasing net worth is to spend less than you do. This is a cliche; but this is the basic, absolute, unchanging reality of money. To avoid this trap, you must understand that income is not wealth.

Your wealth level should be measured by the time you can maintain your standard of living without additional salary. In other words, if you need to stop working right now, how long can you keep your car buying model, clothes, music lessons, education, video games, and so on? The average person is not educated in this truth

8. True wealth is control over your time

True wealth means having control over your time. If you do not achieve what you love every morning when you get out of bed, you are not successful. You are just a very paid hired job. How do you know when you really are rich? When you have complete control over the way you spend your day.

9.  Niche markets are not glamorous - but they are profitable

Successful, financially independent people know how to turn seemingly ordinary products, problems or ideas into business machines that produce money. By solving the problems of society, they receive huge rewards that allow them to live comfortably. Rob Colin

Billionaire investor Charlie Munger noted that entrepreneurs can thrive if they specialise in a neglected economic niche. Often these niches are extremely profitable. Who are these niches? Most of the big money is in sectors like waste management, pizza, clothing stores

10. Support your productive children - not losers

Money has nothing to do with love. If you have children who are successful, moral, ethical and disciplined with their finances, they deserve a larger share of your support and property than those who are not. 

It is almost always a mistake to give money and support to those relatives who are unable to generate high incomes alone or permanently in financial difficulties. Think about the stimulus you are creating! For example, your daughter is a lawyer and you say she does not "need" your money. At the same time, you provide financial support to your son, who have loans and can not find a job.

You've effectively managed to turn him into a financial and credit junkie; it is unlikely ever to overcome its dependence. He will postpone the actions needed to fix his life because he knows you will always help him financially.