How to get financial freedom

There is a way to take control of your life and do away with negative feelings when it comes to finances.

10:24 20 February 2014

The news is full of the doom and gloom about the economy and the high unemployment rates, rising fuel bills and food prices and while all this happens those of us who have a job don't see anything happening to our salaries. 

 

If we all got an education about how to handle personal finances and how to deal with things like credit cards, we would be better off. Unfortunately, most of us are going through life just trying to figure out how to get ahead of debt, we have yet to learn how to never have to worry about debt to begin with.

 

If your paycheck does not get you through the month or allow you to save then you should start thinking about controlling what you spend your money on. The only way you can start getting financial freedom is if you can start thinking of getting out of debt and supplement your income by finding another income stream.

 

Three tips to help you feel control your finances

 

1) Take a 21-day fast in which you never use anything but cash, no credit, no pointless purchases. You might start to feel the anxiety of not being able to do all those things you were used to doing with money that were wasteful and unnecessary, this should put you in touch with your bad habits and hopefully get you to control them.

 

2) Spend less than you earn. Sounds strange but you do not have to stretch every pound you make, just plan to get enough of what you need with a fraction of what you earn. You can do this by setting yourself a budget and sticking to it.

 

3) Start a business of your own. Find what you are passionate about and think about how you can generate a consistent income doing what you love. Gaining financial freedom is a choice you have to make and follow through.