6 STEPS TO FINANCIAL FREEDOM
Six easy steps to change your life and give you financial independence.
When I joined the financial industry, I was SHOCKED at how many options were out there for someone like me to enhance my financial future. I knew that if I could obtain financial freedom, that I could help other do the same, and that's why I started Millionaire Within.
I know, money can be a scary subject, but a life of financial struggle is even scarier. By understanding the following six steps to financial independence and putting them into action, you give yourself a money makeover.
If you want to find out more about these tips or how to adjust for any financial situation, contact us today and sign up for a FREE 15 MIN FINANCIAL REVIEW!
6 Simple Steps to Financial Freedom
1. Cash Flow - Do you know how much cash you have coming in and going out each month? Do you know how much your lifestyle costs? Being aware of your cash flow is a great indicator of your financial strength. If you have ever felt strapped at the end of the month we understand. Positive Cash Flow is not as hard as it seems. A thorough analysis will get you on track
2. Rainy Day Account - You've all heard it before, YOU NEED AN EMERGENCY FUND! So many were unprepared when COVID-19 hit.' Cash Savings is the golden parachute that's put in place whenever you have an unexpected episode. Flexing your fitness muscles is easier when your debt is under control - allowing you to start saving up!
3. Get Your Debt in Line! - Working towards eliminating your debt or even just implementing a plan to manage it, can transform your life and your bank account. The first step to financial freedom is minimizing debt! This will give you the ability to start saving for a rainy day or your future.
4. Protect Yourself - When you know how strong your cash flow is, have an emergency fund, and begin managing your debt. You're only at the tip of the financial freedom iceberg. Having the necessary and proper protection can take you on the direct path to financial freedom. One example of this is life insurance, as it makes it easier for your family to move on if something were to happen to you. It's a challenge determining how much you need or what's the best option for you, but speaking with a our team at Millionaire Within is a great way to discover what's right for you.
5. Wealth Building - So you're ready to build your wealth? Don't worry, you can get started even before you've completed all the above steps...it's as simple as saving before you spend. Learning Tax savings and having GPS for your retirement can help you reach your goals while still working on managing debt, building an emergency fund, increasing cash flow, and protecting the ones you love.
6. Legacy - The future is unpredictable and it's crucial to prepare for all and any outcomes. After you've completed all the above steps, it may seem like you have financial freedom, but there's one more step...establishing your financial legacy. Having a financial plan in place can help you ensure your legacy reaches your intended heirs, not the lawyers and IRS.