Attain Financial freedom through Financial Literacy
The financial crisis has impacted the lives of millions of people. Therefore, there has never been a more important time than now to educate and empower yourself to take control of your own personal finances. Here are some ideas and proven financial concepts that can dramatically impact your personal life and finances.I hope you will take the time to implement some of these ideas into your own personal finances.
- Take responsibility for your future goal – We must accept full responsibility for our own financial futures. We must understand that our financial decisions and choices today will impact our lives tomorrow. Therefore, we must evaluate all of our financial choices, expenses, purchases within the context of our overall long term financial goals and objectives.
- Stop the discount offer Trap-Control Your Spending– When was the last time you reconciled every rupee you spent for the last 30 days? When was the last timeyou looked at every charge on your credit card statement? I challenge you to track every expense for a minimum of 30 days to see where all the money goes every month. Use this exercise to look for ways to reduce unnecessary expenses, save money, etc. We live in a consumer driven world. Our spending habits are consuming our future. We must take control of our spending habits to start moving towards achieving financial freedom.
- Create & Live Within A Budget – A budget is absolutely critical for anyone that is committed to achieving financial freedom in their lives. A budget provides us the input we need to manage our income and our expenses. A budget provides us accountability. A budget provides us a tool to work on achieving our financial goals. A budget will dramatically impact your personal finances. It will provide you the roadmap to achieve your financial goals.
- Become Debt Free – Debt is consuming the lives of millions of people. Debt is what keeps us from pursuing our hopes, goals and dreams for our lives. Debt robs us of our future. The only way we can take control of our financial lives and our future is by becoming debt free and never going back into debt. Debt free living must become your passion and your unrelenting goal.
- Commit Time Everyday to Improving Your Financial Literacy– How much time will you spend on the internet and watching TV today, this week or this year? How much time have you invested today, this week or this year improving your financial literacy? What is more important? There are countless free resources available on the subject of Financial Literacy. Remember, we must take full responsibility for our own financial lives. Simplify this task by working on one subject at a time. Pick something basic like home budgets, etc. and get started today. Work on this with your spouse, family, friends etc. Together you will learn more and encourage one another.