7 Steps To Financial Freedom

Financial freedom is the ability to live without a boss, a financial burden or a mortgage.
The key to financial freedom is spending less money than you make.

The following 7 tips will help you reduce your monthly expenses:

Table of Contents

1. Don’t buy anything that is unnecessary

Buy what you really need when you need it. The biggest expenditure for most people is television alone.
By simply eliminating television from your life you can save a minimum of $200 per month.
TV is perhaps the biggest expenditure item in our lives, therefore,
it is worth considering to be eliminated for a period.

2. Look at the big picture.

Before you decide what to buy, first try to find out what it will take to maintain an extra vehicle or house.
What is it going to take to keep your current vehicle working?
If you keep your current vehicle then the petrol bill is going to go up,
if you keep your current house then you will have to keep up with the repairs and utilities.
If you keep your current utilities then you will have to keep the lights on and electricity flowing.

3. Cut back your credit card usage

Credit card usage has been shown to be one of the biggest expenses.
The best way to reduce your credit card usage is by not using your cards to any transactional purchases,
in other words, using your card only for groceries, household bills, restaurant bills, etc.
If you only use your card for a few necessities then you will not need to purchase a card, as there is no card to be purchased.

4. Make a budget

The more organized you are in your finances, the easier it will be for you to keep track of your monthly income and expenses.
To make a budget, simply divide your money into categories. Once you have categorized your money,
then you can go through and track your spending.
Tracking your spending will keep you aware of all your expenses, and you will be able to see where your money is going.

5. Use software

There are programs, that can assist you in budgeting, tracking your spending and in simplifying your finances.

6. Do something

If you want your money to keep going away, then you need to do something about it.
Don’t wait and hope that your money will go away.

7. Set a goal

Many of us do not want our money to keep going away.
Some of us want our money to be used for a specific reason.
For example, the idea is that if enough of us all want our money to be used to pay down our debts,
then this will increase the likelihood that our debt will be cancelled, thus making us debt free.
In other words, when enough people want their money to be spent to pay down their debts,
the debtors will be forced to renegotiate their debts with the credit card issuers to make this happen.

Changing our thinking

To get there we need to change our thinking about the use of money.
This involves our attitudes.

A person who thinks in purely material terms is likely to behave in a materialistic manner.
He will have a narrow and limited outlook on the world, viewing everything through the lens of money.
A person who thinks in terms of human value is likely to live a meaningful life.
He will view everything in terms of the value of human relationships.
And he will embrace a comprehensive human values system that
encompasses all the dimensions of life including the value of money.

Changing our values

The way to get there is to live by your values.
To live the values you need to learn and practice the values that you hold dear.
There are many ways to live your values.
But all these ways of living the values will not lead you to a point of living a value that is in alignment with your reality.
You have to live by your values and live by your reality.

The value of saving money

If we focus on the value of saving money for a rainy day,
then we will live a life that is aligned with the reality of wanting to pay down our debts.
We will find a way to work on the value of savings, see it as an important time to put aside money for emergencies,
and we will find a way to value the value of saving money. We will find a way to value saving money and live it.

The value of spending money

But if we focus on the value of spending money, then we will live a life that is not aligned with our reality.
This is because the part of our brain that processes sensory information is geared to seeing,
and the part of our brain that processes rational information is geared to thinking.
We tend to think that there is no value in spending money.
And the brain is designed to protect us from those things that might cause us to spend money,
we have the brain region that causes us to discount the value of spending money.
We will tend to discount the value of saving money, and think that there is no point in saving money.
And we will make rational judgments that cause us to believe that we do not need to save money.

The need for better decisions

We will make these decisions consciously and unconsciously.
We will make these decisions as the sensory region of our brains process information from things around us,
and as the rational region of our brains process information from our senses.

The way to save money is to take a different perspective about saving money.
If we take the “spending” perspective then we will see the true value of saving money.
We will see the opportunities that are available to us, and those that need to be addressed.
We will help our clients save money by finding a way to view saving money as a way to improve their lives.

And it will be a life that is aligned with their reality.

And so it becomes a process of aligning their brains with the reality of saving money.

Please let us know your thoughts in the comments below.
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***The information contained in these articles, throughout selfrenewalmagazine.com, is for education and entertainment only and do not constitute
in any way, shape or form advise. Use it at your own risk.***

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Wandji Nguemako

Wandji Nguemako is a writer, editor, entrepreneur and public speaker. Having been an entrepreneur, educator, and fashion designer, Wandji now focuses his work on personal development, wellness, and spiritual growth. He is the founder of Self Renewal Magazine, a digital publication that promotes self-love, kindness, and wellbeing, where he chronicles his journey of self-discovery and shares actionable strategies to help others live their best lives.
"You must nurture your own inner being to accept yourself as you are. If you don't accept yourself, you will never be at peace with yourself."