5 Great Money Tips To Lead You To Financial Freedom

Hello my friends, who does not like to earn more money? And who does not like to live a life of luxury. But I believe, it is better to earn more money, it is more important to find some way which will help you to achieve financial freedom.

If I define financial freedom in simple language, then freedom from the worry of earning money, and you do not worry about earning money only when you have a lot of money, and you can use that money to create such an income source for yourself. Make it so that you keep getting money even without working.

Financial Freedom is linked to a personal finance in itself, and you can understand its importance from the definition of Financial Freedom, that if we learn this then we too can live a life of luxury.

And today’s article is also on our Financial Freedom topic only. We have covered many topics in this series of our personal finance. With the help of which it becomes easier for you to manage your finances. Below is a list of articles based on personal finance. You can read all these articles by clicking on the name of the article.

1. What Is Personal Finance
2. Personal Finance and Its Importance
3. What Is Cash Flow in Personal Finance? And Cash Flow Management
4. 5 Rules Of Personal Finance
5. The Ultimate Guide To Budgeting in personal finance: How To Save Money And Reach Your Financial Goals
6. 50/30/20 budgeting Rule , Benefit And How To Achieve It In Real Life
7. Saving And Investing In Personal Finance And Why It Is So Important
8. Some Effective And Easy Way To Reduce Our Expenses
9. What Is Emergency Fund Tips To Create It
10. Some Reasons That Make an Emergency Fund Very Important in Personal Finance
11. Money Management Tips That Helps You to Reach Financial Success
12. 7 Money Management Tips for Personal Finance
13. 10 Easy Tips To Save Money On Your Home Heating Bills
14. 3 Things To Look For In A Home Purchase Lender Online
15. What Your Credit Score Really Means
16. 5 Great Reasons To Refinance
17. Debt Consolidation and its Advantages
18. 5 Suggestions for a Successful Financial Budget

Below has 5 Great Money Tips To Lead You To Financial Freedom

1. Put your investing on autopilot
2. Real estate.
3. Pay off your debts
4. Never burn bridges
5. Help others

1) Put your investing on autopilot

Experience has shown that if we have to make a conscious effort every time we want to invest, we will start off with good intentions but fail miserably a few months later. If you can set up your savings to happen automatically, whether through your employer’s 401k ,a SEP (self-employment plan), or direct withdrawals from your account, you will end up better off. If you don’t see it, you won’t know it’s there and you won’t miss it. Some of these deductions will lower your taxable income, which will save you even more money on taxes (see your CPA and tax advisor for more info on this). Putting away 10% of your income is a good rule of thumb.

2) Real estate

Buy a house if you haven’t already. If you rent, your landlord (hint: the person who owns the house) will only get rich. No matter what the market does right now, real estate is one of the best investments you can make for the long term. It also has a lot of benefits, like tax breaks for mortgage interest. Homes will always go up in value. Everyone will always need a place to sleep. Just turn on HGTV. Real estate has made a lot of people rich, and it’s a big part of almost every tape and book series about getting rich. Stay with the standard 30 year fixed mortgage.

3) Pay off your debts

I put the tips on investing above this because you should pay yourself first. If you have too much debt, there are many non-profit organization’s that will help you renegotiate your debt and terms. Figure out a way to pay off the debt with high interest rates. Be smarter about what you buy. Do you need that 60-inch flat-screen TV? a BMW you cannot afford? etc… Cut up all your cards except for one credit card, which you should keep for emergencies. Don’t keep any store cards. The whole point of store cards is to get you to buy more things and spend more money. My grandfather said it best: “Don’t buy it if you can’t pay for it.” A mortgage is the only good loan.

4) Never burn bridges

If you decide to quit your job, do so on good terms. If you have time, find a replacement. This will make your former bosses like you and could lead to a good reference, another job, a call back for more money, etc. Don’t leave on a bad note. Its just not good Kharma. Also, it won’t hurt to take old customers and business partners out to lunch on a regular basis. This will keep you up-to-date on the industry, give you many more contacts, and help you in the future. Just think about how lobbyists on Capitol Hill spend a lot of money on their politicians. Don’t be afraid to ask people for help from time to time. Kharma is the most important rule here. If you help other people, you will also help yourself.

5) Help others

Once you’ve made it, it’s only fair to help people who aren’t as lucky as you. No matter what you believe, when you give your time and money to help others, you also help yourself. You’ll feel wonderful. Also, the most important rule of karma is that what you give will come back to you many times over. Help out by giving up some of your time. Even if you only help for an hour a week, you will make someone else’s life better. You’ll be a better person if you help other people.