From a slave to a financially independent person. How to quickly achieve financial independence and start enjoying life? Saving and investing
Notes of a financially independent person
I want to tell you my amazing story. This was six months ago. It was a bitter winter, and I worked as a seller in the open air at the market. The money was paid daily, but they were wooed in order to live modestly until the next day. Coming home, I warmed up for about an hour, sitting in a hot bath. After the bath, I immediately went to bed, as I had absolutely no strength. And so day after day, the same thing.
A higher education and honors diploma did not give me the opportunity to find a job in my specialty. Therefore, the market was the option where they really paid. Not enough, but on time. My husband also worked hard, but in a comfortable office and could no longer watch me suffer. After all, my health has deteriorated greatly. We sat down, discussed everything and decided that we couldn’t live like this any longer. We, as two educated people, began to look for ways to solve our situation.
I've been running this blog for over 6 years. All this time, I regularly publish reports on the results of my investments. Now the public investment portfolio is more than 1,000,000 rubles.
Especially for readers, I developed the Lazy Investor Course, in which I showed step by step how to put your personal finances in order and effectively invest your savings in dozens of assets. I recommend that every reader complete at least the first week of training (it's free).
After digging through a bunch of information on the Internet, we came across the audiobook “Poor Dad Rich Dad” by Robert Kiyosaki. She completely changed my entire worldview. My views on finance have become completely different. I realized that it is necessary to drip in the direction of financial literacy. You need to free yourself from financial slavery. From Robert Kiyosaki's book "Poor Dad Rich Dad" we learned that there are stock and bond exchanges. In which you can invest your money and increase it. But how to get to such exchanges? Which stocks to buy? We had no idea.
Choking with an overabundance of information, we began to drip even more. We began to actively tell our friends about our knowledge and ask them for advice. But they were very upset, because every single one of them was twirling their finger at their temple. They said that someone had brainwashed us and that we would go down to earth. Saying: “Alina, what promotions? What bonds? Do you know how much money is needed for this? Is this only for millionaires? You and Vanya live in a rented apartment and work hard. Don’t you understand that this never happens to ordinary people?” But we didn’t give up because... saw the light at the end of the tunnel. And one day, during our next conversation with our friend, we started talking to him about this topic and asked what he thought about it. He answered us that this is some kind of “forex”, a scam and a scam for money. Then we thought, what kind of word is “Forex”? After all, my opinion coincided with our friend. I rode the subway every day and saw advertisements for various Forex companies everywhere. And I never paid attention, thinking that it was a scam, MMM, pyramids and pumping money out of people. But after talking with our friend, I came home and began to read, what is this Forex? There was a lot of information, but having already had a basic understanding of the stock and bond markets, it was not difficult to understand what the Forex market is. It interested me more than the stock market. After all, I found a Ukrainian company on the Internet that provides brokerage services. It was the Forex Trend company.
After reading reviews about the Forex Trend company, studying the site, opportunities and advantages. We are interested in PAMM indices. After all, as beginners, this was not a difficult type of investment for us. We decided to try it. Our hands were still shaking, but our heads understood that we were doing the right thing. We found a group on a social network. Where there were quite a few participants. We asked the author of the group to become our agent and help with investments with the Forex Trend company. Our kind agent, who turned out to be far from kind, said: “Throw $100 into the Million pamm index. When you replenish more, throw it at Prize and Balance.” I was confused. I started asking him questions. Like, what's what? There are many indices, many accounts, but invest in only 3? To which he said that it was necessary. I was not satisfied with this answer. And I'm looking at his reports for previous weeks. It turned out that he does not invest very well and closes many weeks with a minus. And the positive weeks of spruce cover the negative ones. I realized that this “would-be agent” would not teach us anything good. I analyzed all PAMM indexes and the accounts that are included in them. I analyzed the dynamics of each account and decided to create an index table in which the share of my portfolio for each manager would be calculated. After all, when investing in the PAMM index, the money still ends up in the traders’ accounts. I decided to distribute my portfolio in this way: conservative managers up to 5% of the deposit, aggressive and moderate-aggressive managers no more than 2%. Thus, I saw that you can invest conservatively and receive an average of 1%-1.5% profit every week.
At that time, I had already been doing home accounting for more than a month. I saw that there were a lot of unnecessary expenses on which you could save a lot. I also went through things and sold unnecessary ones, thereby creating more free money for investment. We began to actively replenish our investment portfolio. It began to grow exponentially. We saw our achievements. We realized that with such dynamics, by replenishing the deposit, by April 2014 I could quit my job. Further develop our path to financial independence, already enjoying this freedom.
In February 2014, the deposit size grew well and, for diversification, we began investing in another Forex broker. It was Pantheon Finance. After all, the more diversified the portfolio, the greater the chance of a positive investment result.
By the end of March 2014, the financial movement plan was completed. We have already managed our finances wisely. Vanya and I left our jobs together, since at that time we already had enough passive income for a modest life.
Some investors say our portfolio is too diversified. But throughout the entire period of investing, I have not had a single week in the red. This portfolio distribution gives us the financial freedom that many only dream of.
Now it's June. We wake up at whatever time we want, go for bike rides in nature. Let's breathe life to the fullest. We are engaged in self-education. We study Forex, trade Forex on our account. And we thank fate for bringing us to this. After all, if you remember, just six months ago, we were running in a rat race.
Our next goal is to travel around the world, which we will begin to realize very soon. At the end of summer we are moving to live in Thailand on the island of Koh Samui. And this is just the beginning...
P.s. Don't sit on your butt, start taking action!!!
Good day to all! How to gain financial independence, where to start and how to achieve financial stability are questions that are not raised in classes at school or university. Many parents are unable to answer these questions, even those who have managed to achieve success. Therefore, today I decided to touch upon this important topic for every person.
Types of economic status
- Money pit. In this option, income does not cover expenses at all, so you have to constantly borrow money to pay off the previous ones. Accordingly, there can be no talk of savings. This condition is very difficult, but it is quite possible to get out of it.
- Instability . The income-expense ratio is approximately equal. If debts occur, they are for a short period of time. Due to the fact that there are no savings, any unforeseen situation (job loss, illness...) can drag you into a money pit.
- Stability . In this case, you manage to receive more than you spend. And even if a crisis situation occurs, a person in this state may well survive for several months.
- Economic freedom. In addition to the fact that income significantly exceeds expenses, existing liabilities do not require inclusion. There are also significant savings that can easily last you for a very long period of time.
Types of cash flows
- Expenditure capital . These are your monthly expenses for food, utilities, clothing, etc.
- Savings. These are deferred amounts that you plan to spend over a certain period of time for a planned goal. For example, a vacation at sea in the summer, or buying your wife a new fur coat, a car, etc.
- Reserve capital . This is precisely the money that is set aside for unforeseen circumstances.
- Working capital . These are the means by which you can confidently call yourself a financially independent person. And accordingly, they are always at work, be it an investment, an investment in a bank, real estate or the stock market.
1.Attitude towards money
First, let's define what money is for you, what does the concept itself mean? Because if you think that this is punishment or dirt, it is unlikely that you will be able to go against your beliefs in order to increase punishment in your life. Thus, an internal conflict arises that is important to resolve in order to begin moving towards financial freedom.
2. Goal setting
We have already talked about this, but still, it is necessary to clearly set a goal. Not just, in general: “I want a lot of cash,” but a task that will motivate you to work hard, for some it’s a car, for others it’s their own house, it doesn’t matter, the main thing is that you understand what it is and exactly how much is needed to achieve.
3. Income distribution
Learn to distribute your income. In addition to the necessary payment of bills, it is important to allocate an amount that you can spend on yourself. Because it often happens that people go to extremes - from excessive saving to buying a bunch of unnecessary things. You've probably heard more than once that you need to look for options where to make money, and not save. But even at the same time, sound control of profits and expenses is simply necessary. You shouldn’t limit yourself excessively, otherwise the moment will come when you will break in order to satisfy your “bare” needs.
4.Responsibility
Money is a responsibility, and the more you have, the more obligations you have. Therefore, try to answer yourself honestly: “Am I ready to take responsibility for my choice? For the consequences of the decision made? After all, if you take a risk and decide, for example, to open your own business, are you ready to tirelessly invest in its development in order to get results only after a certain period of time? Coping with a series of difficulties, limiting yourself in some way due to constant employment?
5.Credit card
Try to use only cash for payments. Credit addiction does not allow you to control your expenses, and it also sucks you into a hole of debt. You quietly fall into traps, making unnecessary purchases for which you later owe money.
6. Believe in yourself
Send the right thoughts into the Universe, or, in other words, believe in yourself. If you constantly think that you won’t succeed, that you don’t have the same opportunities as others, your energy will be wasted, causing constant anxiety, dissatisfaction, and, as a result, irritability.
7.Alternative income
Think about alternative income, maybe you have an apartment that can be rented out, or unnecessary things that can be sold off? Yes, in the end, a deposit in a bank with interest can also bring, albeit minimal, but still passive profit. There is even a formula for material independence: Passive income – Expense = > 0. And if in the end it just comes out to 0, this already indicates its absence.
8.Money energy
Money has energy. And if you are fixated on the desire to earn a lot, angry that it doesn’t work out, do you think you will be able to attract this energy to yourself? If you love it, despite the fact that it is absent at certain periods, and will happily accept it when it appears, this will help to establish the process. After all, you also don’t want to go to visit friends who are angry with you? Not much fun, right?
Likewise, monetary energy resists being present where it is not received with gratitude. Have you ever noticed people around whom money is in the air? Whatever business they take on, do they always end up making a profit? This is because they know how to appreciate it.
9.Savings
Always save at least a minimum portion of each income in reserve. If an unexpected situation happens, you can take advantage of it, instead of borrowing or taking out a loan. In this case, there can be no talk of financial freedom. Calculate so that the amount will be enough for you for six months in case you lose your job. Set it aside separately from all distributed parts, and do not touch it under any circumstances.
10.Home accounting
Maintain home accounting, it will be much easier to track and control waste. Most often they answer me that they calculate and store information in their heads. But this approach is incorrect and does not work. Even billionaires know where every cent of their money goes, not because they are misers, but because thanks to this ability to track and be aware of everything, they managed to manage entire fortunes so well.
An exercise to understand your attitude towards finances
Most often, we ourselves stand in the way of our financial independence, sometimes without understanding the internal fears that stop us from achieving. Ask yourself the question: “If I have more money, what will I lose?”
Listen to the answers that arise, allow yourself to reflect, and believe me, some of the answers may surprise you, revealing the true cause of your money difficulties.
For some, it is the fear of losing self-respect, for others, family or friends, for others, their freedom or reputation is too valuable... You may have a completely different option, different from the examples, but at the same time limiting opportunities and the path to material well-being.
Study the stories of successful people, look up to them, explore the history of their promotion, perhaps their ideas or situations are similar to yours, and then this similarity will be support and inspiration for you. Consult with friends who successfully run a business, be more in their environment, make useful contacts. Soak up this “money aroma” that hovers around people who know how to attract and preserve it.
Share
Share your talents with the masses, even if it’s just the ability to bake delicious pies. Many great people offered their services in the markets, there is nothing terrible about that. Promote yourself, and over time, when you get the hang of it, you can move into the passive income phase, when these skills will already work for you. Step by step, you will gradually get your bearings and be able to achieve financial freedom.
Explore
Research the market to find a niche that is not yet fiercely competitive. Or, if you already have ideas, create a high-quality business plan that you can present to investors. And it rarely happens that there is a potential investor right away, so don’t lose hope and don’t stop, even if you hear “no” 15 times in a row. Knock on other doors and they will definitely open for you. There is a famous author under the pseudonym Dr. Suess. His first book was rejected by 27 publishing houses. Now his literature leads the market among popular children's authors.
Learn
Learn not to make hasty decisions. Yes, you have to think quickly, but when it comes to finances, you have to consider all the pros and cons, risks and benefits. Panic and fuss may not work in your favor; money doesn’t like that.
Invest
In addition to investing in stocks and so on, invest in your education if, with the help of advanced training, you can move on to a higher-paying job or gain knowledge to run your own business.
Save
You can also reduce costs by giving up bad habits, by purchasing only the necessary things according to a pre-compiled list, during seasonal sales or in wholesale stores. Close loans and pay off debts.
Work
But you can also increase your profit level by working part-time on the weekends or in the evenings on the Internet. Think about how a hobby can bring you money.
Conclusion
Step over all your fears and doubts, take risks, keep track of your profits and expenses, and over time you will achieve financial freedom when your money will work for you, requiring only minimal involvement in the process. Good luck and prosperity to you!
Have you ever heard something similar from your comrades, acquaintances or friends: “I have become financially independent! My work gives me complete independence from circumstances...”? The financial literacy of such people is lame on both legs. An absurd phrase, because work is also a circumstance.
Such people do not even know what financial independence is and how it is achieved. “Nonsense!”, you might think, “After all, they have a high and constant income, money flows like a river, they even have time to save.”
What happens if a person loses this job, giving way to a younger or more competent employee? It turns out that he is directly dependent on money, and a step to the right, a step to the left threatens him with losing money, so such people cannot be called financially independent.
Here is some basic information for a novice investor:
What is financial independence? If people with well-paid jobs remain dependent, then does such a concept exist at all? Many may have the opinion that this term is similar to Santa Claus - everyone talks about him, but it is impossible to touch, see or hear him.
Not quite like that, or more precisely, not like that at all. If active income does not give independence, what does it give then, how to achieve independence, where to get money “for life”? In addition to answering these questions, you will now learn how to become a financially independent and successful person.
What is financial independence?
Now you should lift the veil of secrecy, it’s time for you to find out the answer to this question. For greater clarity, let's look at an example: Vasya is a manager who receives a monthly income of 30,000 rubles.
To provide for all needs and requirements including food, payment of utilities and other things, 25,000 rubles are enough for him. You already understand that work is an active income and it does not provide financial independence - there is a job, there is a salary, but if there is no work, then there is no salary either, but the needs remain, the price of which is 25,000 rubles.
However, Vasya has an apartment closer to the center, which he inherited, but is now empty. The manager can:
- Sell it to receive a certain amount of money;
- To rent.
The second option is the most optimal, because if you sell the apartment and even invest the proceeds in the bank, you will not receive the same income if you simply rented it out. Therefore, such an option as deposits in banking structures should not be considered. So, Vasya finds a tenant, rents out an apartment, the rent of which is 26,000 rubles. What does a manager have:
- A job that brings him 30,000;
- Passive income of 26,000.
Now, even if Vasily loses his permanent job, his needs are provided and he does not have to worry, because his needs are fully satisfied at the expense of the tenant of the rented apartment. Manager Vasya is already able to quit his job, giving preference to more pleasant things. This is an example of simple financial independence - passive income that satisfies expenses. Yes, the income is small, but this is a guarantee for unforeseen situations.
But Vasily is lucky, he has real estate, so everything is clear with him, but what about those who do not own apartments, cannot rent them out, but want to be independent? There is a solution - it lies in investing, now about this in more detail.
Say "No!" money slavery
There is one thing that, if you implement it, you will cease to be poor forever, and will finally begin to realize yourself as a rich and successful person. Please note that if you do not do this, the path to a carefree life is closed forever. So, stop being a slave to money! You shouldn’t laugh at this, because it’s one thing to hear, and quite another thing to understand the meaning of this phrase. Not being a slave to money means stopping thinking about it every minute.
When you start organizing your passive income, you need to learn to keep a cool head, making only informed and thoughtful decisions. How can you think about something if an obsessive thought is constantly spinning in your head about a possible loss of money, an incorrect investment or analytics. and investment in general is a risk, which is why you must stop loving money too much, otherwise there will be fears of making investments. In that case, just wave goodbye to your opportunity to live comfortably.
If you want to be free from the influence of work, provide yourself and your family with the desired level of income, then put aside all fears and take a step towards a happy life and financial independence.
Investing is the path to financial independence
Investing is the investment of your money, which will later bring you profit. There are three main types of investment:
- – deposits of funds into real estate;
- “Paper” investments – such as stocks, bonds, etc.;
- Business income is passive income from a business; this type is considered only when you do not take an active part in generating income.
and foreign exchange investments are a method of preserving, but not increasing funds. This needs some clarification. The situation with banks and currency is that the percentage of profits that you receive will barely have time to outpace the percentage of inflationary growth, so the final income from such investments cannot even be spread on bread.
To obtain real growth, the profit must be at least 20% of the deposit, and the interest rate offered by the bank is significantly lower than this figure. Therefore, on the path to financial independence, you can safely erase bank deposits from your life - for you it is a waste of precious time.
In fact, becoming a rich and successful person is much easier than you think.
In Germany there is a financial plan for investing family capital in a specific business. Moreover, the German program is designed for 12 years. After this period of active investment, the family will be able to stop working and live on interest that fully satisfies the needs of all family members.
America also has its own investment system, in which you can forget the word “work,” but at the same time this scheme works faster than the German plan. The essence is the same - to invest your dividends in a specific business, but the difference lies in the amount of the starting investment.
Here we should remember one of the principles - more investments, and therefore more profits. Therefore, an American family becomes successful and completely independent of work within 7 years.
There are many ways to become rich, wealthy and gain financial freedom. They all involve investing money in different projects. Don't think that investing capital is a waste of time, because nothing will come of it anyway.
While you are torn by doubts, others are making successful investments, making profits and gradually ceasing to be dependent on work. Let's figure out where you can invest and how to finally secure a comfortable future for yourself.
CMS on investment risks
Before talking about investments, you should take a Young Investor Course on the risks of investing in PAMM accounts and mutual funds. This will help you understand How they can be avoided.
Risks of investing in PAMM accounts
There are two types of risks that involve investing your money in PAMM - trading and non-trading. The first ones mean:
- Making the wrong trading decision;
- An unexpected jump in prices on the world market;
- Neglect of money management.
The second type of risk should be understood as follows:
- Fraud committed by the broker;
- Company bankruptcy;
- Investor has communication problems;
- Poor performance by the broker of his duties specified in the offer.
There are many ways to minimize the risks that investing in these projects carries, and do not believe it if they say that this is nothing more than a “scam”. While some talk, others allow themselves to become financially independent, remember this.
Of course, there are so-called “black” brokers who obviously want to deceive you, but usually these are new people on the markets. Therefore, in order not to get hooked by them, choose proven and experienced traders.
“Turn on” logic and analyze - a broker with a reputation will not risk it and deceive you, because his name has been earned through years of painstaking work, analytics and studying market trends.
Risks of investing in mutual funds
Here, too, two main risks can be distinguished: market and non-market. The first one implies:
- Jumps in prices for services and goods;
- Betting jumps;
- Collapses in stock prices in large stock markets;
- Stopping market reforms;
- Submitting claims from fiscal authorities to the issuer;
- Change of formation.
Non-market:
- Resonance of interests;
- Fraud;
- Lack of experience or skill as a manager.
An investor cannot control what is happening in the market. But he can control his own risks, avoiding failures in investments.
It is very important to remember, or even better to write down, that there are risks everywhere. The higher the profit, the greater the risks. The entire investment system is built on this; it is clear that there is a chance of losing money, but it is everywhere, and without it you cannot become independent.
Even deposits in a bank are dangerous, because if it goes bankrupt or “bursts,” who will return the deposits to investors?
You can’t completely eliminate risks, but you can minimize them as much as possible, and most importantly, don’t get hung up on it, think about increasing it, not losing it. On this positive note, you can sum up, which will help you better understand how to become independent from work, and finally begin to live for your pleasure.
Conclusion
You can gain financial independence only by organizing your passive income. Then you will no longer need to work for someone and be afraid of losing this job.
Deposits in banks will not bring profit, but what will really become the key to your future comfortable life and allow you to become financially independent is investing. Making money without working is real, and you know how to do it.
Financial independence is considered to be the availability of funds and the ability to dispose of them at any time at your own discretion. Many people are concerned about the question: how to become a financially independent person. Not everyone is a financial genius, but anyone can achieve success and become financially independent. Most people don't know how to achieve this accurately and quickly.
Achieving financial independence means not working for money, since a sufficient amount of money comes from passive sources of income. Passive sources of income are:
- dividends from shares;
- interest from bonds;
- business profit;
- real estate rent;
- interest on bank deposits.
In order for the dream of becoming a successful and independent person to become a reality, you will need a financial plan. If you don’t yet have the opportunity or the necessary knowledge to start your own business, you can achieve financial freedom using a simpler, but also longer, scheme:
Stage | Action plan |
---|---|
Work | First you need to have a stable income, that is, a job with a stable salary. Then you need to calculate the amount of monthly expenses, start saving and reducing expenses. If you have loans, try to repay them as quickly as possible |
Save | After this, you can start saving a certain part of your salary every month (preferably at least 25% - 30%) in order to accumulate an initial amount for investment. Everyone’s income is different, and everyone’s starting amount will also be different. |
Invest | The easiest way to invest is to buy shares. There are compelling reasons for this: Low starting amount. The amount to open an account is usually no more than 50,000 rubles; Possibility to enter or exit at any time; A share is a share of a business. Before you start your own business, you need to take a closer look at how other people’s businesses work, study specific examples; The profitability of the stock market, in the case of investing with your own money (without broker's funds), is usually higher than bank deposits. You should use all the money you save to purchase shares. Dividends received must also be invested in shares |
To finance | After a certain period of time, a serious amount will accumulate that will need to be withdrawn from shares and invested in your own business, for example, commercial real estate: a small office or warehouse. It is recommended to use profits to expand the business. In a few years you will no longer have to work for hire. You will only need to invest your profits in increasing your own investment portfolio |
Investing in stocks will require a small amount of entry, unlike the amount you will need to have when investing in real estate.
Three steps to financial independence
Successful and financially literate people take care of their well-being on three levels:
Level | Actions |
---|---|
Financial protection. | Every person must provide himself with an emergency cash reserve for at least six months. After all, no one is immune from job loss or disability, business problems, etc. |
Financial security. | This implies that the amount of monthly passive income should be equal to the amount of monthly expenses. Passive income should come from various sources and without much effort. For example, real estate for rent or online products that sell themselves automatically |
Financial independence (freedom). | This is the amount of money with which a person will not need anything. If passive income is more than $10,000 and there is confidence that the created system will function for a long time, it means that the person has achieved financial independence |
One of the important rules of people who have achieved success in life is: first of all, you need to pay yourself. You must try to save at least 10% of the money you earn so that it becomes a financial instrument that will ensure prosperity in the future.
9 basic rules for achieving success and financial independence
Having funds for unforeseen situations, saving money so that every month in liabilities you receive an amount equal to monthly expenses, and gradually achieving financial success and becoming a financially secure person - these are simple and elementary actions that can be implemented.
It is necessary to invest in education, which is the main asset of all successful and wealthy people. To learn how to earn money, you need to know what mechanisms exist in the economy and how they affect our lives. Replenish useful knowledge every day, read professional literature. These could be textbooks on economics, articles on finance in periodicals.
Biographies of famous wealthy people who often, based on their experience, recommend how to properly manage your own budget and give advice on how to become a successful and financially free person. It is very useful to watch economic news and related interviews. If you need to expand your financial horizons in a short time, you need to communicate with financial consultants. A competent specialist can help you legally reduce your tax expenses and protect your income.
Rule 2. Change your attitude towards money
Most people find it difficult to prioritize. Therefore, they do not control their expenses. We need to learn to respect money and feel gratitude towards it, both adults and teenagers. You shouldn’t spend all your money, because savings can greatly change your financial situation for the better. You need to make a choice between uncontrolled purchases and real investments in your own well-being.
Rule 3. Set a specific goal
To begin, you simply need to decide to succeed and remember that financial freedom is the result of an individual and thoughtful decision. Having created an emotional mood, you can begin to plan goals. The main thing is to understand that financial success is a real goal that can be achieved. It is necessary to set complex but achievable tasks and establish deadlines and methods for their implementation.
One of the initial goals may be to save a specific amount of money every month or invest part of the funds in a business. By setting aside a certain portion of your income, after just a few months you can see an interest in savings appear.
Rule 4. Make your own budget
Planning your expenses and income will help you clearly demonstrate the weaknesses in your own budget. The danger of credit cards will immediately become clear, and what kind of debt bondage a small microloan can lead to. You need to decide how to use your money to the greatest benefit. A well-planned budget is a paved path to achieving your goal. It is important to control all expenses using various applications.
Rule 5. Invest wisely
You should not invest money in dubious projects, but invest in safe and reliable ones, since the main goal is not immediate income, but a source of regular income. You should gradually increase your assets: buy shares and invest in real estate. You can make a profit from such assets for more than one year.
Rule 6. Work hard and efficiently
Having passive sources of income is good. However, if there is an opportunity to change your job responsibilities (with an increase in salary) or find additional income, you should not miss this chance. It is necessary to look for new sources of income, it’s good if there are several of them. When problems arise with one of the sources, others help out.
The work should please and be interesting, and then there will be a desire to develop and get more money for your work. You should be proud of your work. If you don’t like your job, perhaps you should change your field of activity, learn more and look for something new and interesting for yourself.
Rule 7. Change profession
After gaining knowledge in the field of finance, you can change your profession and become a financial advisor. This is a young, but already gaining popularity profession. The target audience of a professional in this field is the population, businessmen, and bankers. Financial advisors draw up a personal or family budget, plan expenses and accumulate funds.
Rule 8. Practice quality relationships
The progress of personal growth is stimulated by like-minded people - this is an axiom of achieving success. It is necessary to find and communicate with like-minded people.
Rule 9. Become a disciplined titan
An important economic law of capital accumulation is the continuous investment of money. This applies to personal growth, career, family relationships and any other area. If you move towards your goal every day, achieving it is inevitable. Purposeful people gain experience that greatly accelerates the opportunity to become financially independent.
Achieving financial independence is a long process associated with changing your thinking and lifestyle. You should not hope for quick results. You need to be patient, believe in success and never stop there.
Every person dreams of a rich, carefree life. It would seem that there is nothing better than having a couple of tens of millions in your account, without working, but devoting your life to what you love, for example, traveling. But does wealth always completely free your hands and free you from the everyday need to earn money? No! To truly become a financially independent and successful person, you need to understand what financial freedom itself is. Otherwise, energy will be spent on achieving unrealistic goals.
Financial independence is a standard of living that allows you to completely give up work (in the usual sense), when you have a certain minimum amount of financial resources that work without the direct participation of the owner, generating income on which you can freely live your whole life. Of course, everyone has their own needs for a carefree life, so the minimum amount of assets is also different for everyone.
Millions of people in Russia simply dream of becoming financially independent, spending the most energetic years of their lives not at all on achieving success, but on a job they don’t like. Expecting some kind of miracle that still won’t happen, and most importantly, completely ignoring simple rules, the implementation of which is fundamentally important for achieving success.
Financial independence is, first of all, selfless work, but not thoughtless work. Simply going to a job you don’t like twice as often and then suffering from overwork is a dead end.
You need to organize your own business, develop your skills in making money, acquire useful connections, set goals for yourself, and then achieve them. By gaining a good pace, you can achieve the first results in just one year.
An example is sports. Let's imagine a runner who trains three times a week for 2 hours, and at the same time shows relatively good results. If an unprepared person is forced to engage in sports in the same mode, he will definitely not achieve success, since he was initially unprepared. It is in many years of intensive training that the secret lies. For the first 5–10 years, the runner watched his diet, trained hard, competed, and now he just needs to maintain his athletic shape.
To achieve financial independence, it is important to choose a business that will not only bring good income, but also pleasure and joy.
As soon as you decide to open your own business, you need to clearly decide what works best and what you like most. This is important, because with the wrong choice comes huge disappointment.
Many future students choose professions that practically guarantee a high income in the future, but for which they have no passion. This is fraught with the fact that the unloved activity will quickly become boring, the motivation and desire to do it will disappear.
It is impossible to become financially independent by spending 24 hours thinking about how to earn more money.
The first thing you need to learn to do is to correctly distribute expenses and income, keep records of your finances. Sources of passive income are the very answers to questions about financial freedom. They will bring money not for the sake of quantity, but in order to gain freedom from it.
As you know, money is an ordinary human resource that should not become the goal itself. It is needed to achieve other goals. It is not the amount of finances that is important, but the attitude towards them.
Human health is the most valuable resource. Once lost, it cannot be replaced, just as time cannot be returned. You need to look after your health and take care of yourself.
Intensive work is always useful, but only in moderation. Lack of sleep and overwork are guaranteed to lead to a deterioration in well-being. A decrease in working capacity will follow.
This vicious circle will be difficult to break, since various chronic diseases against the background of overwork are guaranteed. As you know, money can buy almost everything, with the exception of health. Once you undermine your body, it will be difficult to restore its tone.
Financial independence and wealth are completely different things that are important to distinguish. Those who dream of one day becoming rich will never be financially independent. Such people depend not only on the money itself, but also on its quantity. No matter how many thousands are in the bank account, there will always be few of them.
True wealth comes only with hard work. Money earned on your own is valued much higher than money that “came from nowhere.” Only from them can you learn competent and effective distribution of finances.
Almost any case of winning a lottery jackpot can be cited as an example of thoughtless spending of easy money. According to statistics, 9 out of 10 lucky people spend their winnings on entertainment in a few months, and spend the rest of their lives in poverty. And all because easy money has no real value.
By setting your goals correctly, you can reach any heights. Money earned through your own labor, which will then be invested in a worthwhile, interesting project, and then multiplied - the path to true financial independence.