Blog 76: What It Is to Really Become Financially Free.

Becoming financially well off is not about having enough spare monies to blow on materialism. It is more about having the freedom to do what you want, how you want and when you want.

In other words money is freedom. The acquisition and accumulation of wealth in our society is very important, most of all it is imperative we know the process and steps it takes to attract it.

The first step is the ability to look at money positively- One of the most discouraging adages amongst poor people is that “money don’t buy happiness”.  The last I checked, neither does poverty. The ability to see money as a necessary tool that creates option is the first step in the right direction of wealth creation.

The second step is writing down goals- The saying that “he who fails to plan, plan to fail” is so true and its meaning often times get overlooked. It is  easy for anyone to tell your financial wellbeing by looking at your daily, weekly, monthly, yearly, five and ten years’ goals. If you have nothing written down, chances are you are deep in the abyss of consumerism, no matter how much you make.

The third step is creating more streams of income- This is not to be confused with working extra hours or having second or third jobs. What I mean by other streams of income is, creating a system that generates income with little or none of your presence required. Money can work ten times harder for you than you can ever work for it.  A vending machine or writing a book are great examples among many.

The fourth and most important steps of all is to invest your money after expenses paid- Please do not confuse this with savings. It is okay to set aside monies for rainy days, but saving money is not the best way to invest your money. As money itself is a depreciating asset, it is not advisable to hoard if it is not an emergency fund. There’s no better way to invest your money than to put it in the three pillars of wealth which are:  Stocks/Shares, Properties and Starting a business.