MANY OF us ask ourselves this question every day. We even dream of the day when we become financially liberated. What many of us fail to realise is that the answer to achieving financial freedom is through sound financial planning. It is important to have a personal financial plan to help you build your resources for the later years. Financial planning takes determination and persistence since there can be obstacles along the way. Obstacles can discourage people and ultimately lead to abandonment of a plan. However, with proper planning and dedication to your plan, you will be on your way to financial freedom.
'SAVING FOR A RAINY DAY'
As children, we always hear our parents and grandparents say that we should "save for a rainy day." Since life is uncertain, we follow their example and save our money in the event that there may be unforeseen occurrences along the way.
As an adult, there are only a few of us that still follow this practice and save. Some follow the path of credit card debt, while others believe that they don't earn enough to save. They believe that they can't or that it is too difficult to save. They also believe that when they save, all the good things in life get taken away from them. They convince themselves that they are in too deep, so the dream of ever being financially free looks unattainable. The truth is if we get so hard and edgy about this, then we won't be able to enjoy the crossing to financial freedom.
Everyone can achieve financial freedom. However, it will take discipline and sacrifice to reach to that point. By using the following steps as a guide, financial liberty may not look as impossible as it looked before.
Step 1: Make a list of all your income and expenses. By putting pen to paper you will get a perfect picture and know if you are living above your means. This is important because you need to know where you want to go to be able to plan how you will get there.
Step 2: Make a list of your financial objectives. By listing your financial goals, you are prioritising and you will know what is most important to you.
Step 3: Create a detailed financial plan of how to acquire what you want. To do this, you can start by breaking down your financial plan into sensible and reachable goals.
Step 4: Put your financial plan into action and consistently monitor it. Once the plan is made and you have outlined your present financial situation it doesn't end there. In assessing the plan, you will see that there are many things that can have an effect on your plan. Therefore, you will need to alter your plan accordingly.
By taking control you will make the decision that best suits you, instead of accepting choices offered by life's circumstances. With this in mind, anyone can realise his or her dream of achieving financial freedom.
To further discuss investing and the many options we have available, contact DB&G at info@mydbg.com or toll free at 1-888-CALL DBG.
Disclaimer: All information contained in this article has been obtained from sources that DB&G believes to be accurate and reliable. All opinions and estimates constitute the author's judgment as of the date of the article. No warranty as to the accuracy, timeliness or completeness of this article and as to the opinions based thereon is given or made by DB&G. DB&G and/or its employees or directors and/or any associated person may have an interest in, or interest in the acquisition or disposal of, the securities or class of securities mentioned herein. Call 1-888- CALL DBG if in doubt about the content of this article. Decisions based on information contained in this article are your sole responsibility.
