The sad reality however is that many people today are living from hand to mouth with some being forced to borrow just to stay afloat; this is no way to live.
The good news is that there’s hope. Regardless of how messed up your money situation is, you can still get back on your feet. Here’s how to get financial freedom fast.
Get rid of all your credit cards
Yes you heard me right so stop cringing like someone just shot you in the foot.
Actually, using credit cards is akin to shooting yourself in the foot. One of the biggest financial mistakes people make is using money they don’t have.
In fact allow me to be blunt and use the term ‘financial stupidity’ because that’s exactly what it is.
So get rid of your credit cards and start using REAL money; only then will you start to appreciate just how important it is.
This is extremely vital in the quest for financial freedom.
I want you to understand me very clearly; I’m not saying that you stop using your credit cards until your financial situation improves.
I’m talking about taking a pair of scissors and cutting them ALL up into tiny pieces.
Budget
This is a no-brainer.
If you receive a paycheck every end of the month or week you must know exactly how you are going to spend every single penny.
If you don’t keep a budget I can assure you that when you start, you will be shocked at just how much cash is going towards things you don’t really need.
Which leads us to the next point.
Cut back
With a budget in place it will be easier to start cutting back on unnecessary expenditure.
I know, I know, we all love spending money on things that make us happy for example fancy dinners during the weekends, a new phone every six months, the latest fashion trends etc.
What you need to ask yourself however is, will your life be any less meaningful without these things?
The answer is no.
In fact it will be much better because you will have more money in your pocket.
I’m not saying that you shouldn’t spoil yourself from time to time; just don’t make it a habit.
Take the bus
Or the train or use a bike.
I’m talking about commuting just in case you are wondering.
I know you love the feeling of being in your nice little vehicle with your favorite songs playing in the background and where you have full control of the AC.
The reality however is that using your vehicle everyday is extremely expensive.
If you don’t believe me, just switch to the aforementioned options for one month; you will be surprised at how much money you will be able save.
And of course you will also be doing Mother Nature a huge favor.
Make more money
It is not wise to rely on only one source of income.
So maybe you asking how you can change that.
It’s pretty easy actually.
What I’ve come to learn over the years is that most people have a talent that’s not related to their line of work.
For example if you can write, there are so many ways you can make money from that e.g. as a ghost writer, columnist, content writer etc. If you have graphic design talent, start by offering your services to family, friends, work colleagues and grow from there.
You can also take up a second job if you have some extra time in your hands.
All these will go a long way in improving your financial situation.
Save
It doesn’t matter how much money you make, you can save.
It may sound a bit absurd to some people but it is recommended that you save at least 20% of your income every month.
It would also be a good idea to have a separate account for emergencies.
Here you should have an equivalent to at least 3 months worth of expenses at any given time.
