How To Achieve Financial Freedom: In 5 Years (Independence)

how to achieve financial freedom

Do you want to know how to achieve financial freedom? And never have to worry about money and travel around the world instead? That is amazing and the type of dream most peoples are hoping for. But they have been conditioned by society that to be able to live and enjoy money is only possible after a decade of back-breaking at work. When we get to 65 we become tired and grain. Why would you plan to enjoy life only when you are just about to become week? I never quite understood that and it doesn’t have to be that way.

You can change this mindset and get started on creating a more prosperous life for yourself now. Even if you are just starting out or broken. There are so many ways you can make a lot of money and become financially free without living like Scrooge and while still young. Just take action on the below secrets on, how to achieve financial freedom quickly.

financial freedom vs financial independence

10 Keys To Achieve Financial Freedom

1. Start With A Plan (the top secret to financial freedom)

What it means to be financially free is different from one person to the other as our bases are different. While you may only be satisfied with the latest gold stream jet, some people are just content with living debt-free. To create the kind of life you want, you have to first define what financial independence precisely means to you.

Be as specific as possible, outline the bank balance you want to have, the lifestyle, and the timeline to get them. Don’t be odd or cut out the actual state of your financial position now, be realistic and factual.  This will help you to create a long term goal and to determine the work you have to do to cover the gap between your current situation and your end goal.

check also High Income Skills to Make 6 Figures Income

Also, create smaller goals and milestones at regular intervals to help you work steadily towards your desired goals. Knowing how to achieve financial freedom, start with a plan.

2. Stop Exchanging Time For Money

To make a lot of money in a relatively short period, the traditional 50 hours of working for a steady paycheck may not cut it. Not that you can’t get rich by working 9 to 5 but most financially successful people do not trade their time for money. You might work very hard 50 hours a week and even sacrifice your weekends, and maybe just maybe, the boss may appreciate your effort and give you a raise so that you can slave for several more years until you are tired and live the money man to save it.

The problem with this model is that your income is limited by time. We all have 24 hours in a day, and most of that time will be taken by other essential activities, living you about 10 hours to trade for income. The truth is time is the most essential commodity in the world because it’s limited. So if you exchange time for money, your income will always be limited. But how do you start trading all these most valuable resources and create time for things that matter most?

Start with a change of mind. You must think of trading value for money instead of time. What skills, talent, and knowledge do you have that people value? When you think like this it opens your mind to an anonymous opportunity out there. Money is everywhere when you discover what is it that you can do better off than most, not that you have to be the best. Find a way to create value for others and shine yourself. There are several ways you can put your unites skills to use, making money for you.

Check Also:: The Truth About – Success is not Always What You See with Your Eyes

You can sell your services as a freelancer where you determine how much you will earn and choose who to work with. Also, you can position yourself as an authority in a particular niche, by creating and selling products for example E-book, blogs, Copy-writer, Video editors. The best part is you can automate most of this process, leaving you enough time to be sitting on the beach and be enjoying yourself. At the same time, your earnings continue to come in and since you don’t have to spend all your time selling, you can start other forms of passive income and grow your money faster.

Here comes, the secrets of knowing how to achieve financial freedom quick.

3. Invest In Yourself  

To be a valuable person, you must place a premium on your personal and professional growth. This is about the most profitable investment you can make, it gives you a compound of returns over time and increases your work in the presence. Seek to improve yourself every day, drop the habit that does not align with your goals, and pick up new more productive habits. Invest in courses and training to increase your skills and knowledge so you will be better equipped to negotiate raise if you are employed and to raise your fees as you work on yourself.

Self-improvement should also extend to your health, ensure to eat healthy foods, sleep often, and exercise your body. You can’t indeed be wealthy if you are in poor health. Investing in yourself to achieve higher productivity, make more money, and live more quality life, it does not only show your actions with the outside world but also determines how you feel about yourself.

Check also How to Get Rich with No Money or Education: (Top Guide)

4. Live Beneath Your Means

Although in much clean shape, living below your means is a threat that holds every aspect of your personal finance together. Without it financial freedom is impossible. It’s like driving a car with the wheels off, you won’t be going anywhere. Unfortunately, this is one aspect most people struggle with end with credit card debt. Learning this is so important because you’ll need to free up cash to use for wealth creation. If you haven’t already mastered this old age skill, it might be one of the most challenging steps you have to make. It teaches how to make a painful lifestyle and forgoing unchain spending which you may become a custom to.  

See, is not that you don’t know how to achieve financial freedom. You just need to…

5. Learn To Manage Money

Managing your money is about counting in and out every dime that goes out of your account. Create a detailed budget to help you keep track of your expenses, ensure your bills are paid timely and your savings go in hand. It also helps you to curve impulse spending and avoid costs that are not provided for in the budget.

A budget won’t be effective if you don’t stick to it religiously. One of the best ways to do this and understand your finances better is by tracking every penny that moves out of your pocket. It doesn’t have to be complicated or time consuming like some ads you have automated. When you analyze your expenses recorded for the month. You will be surprised to find out that you spend more money than you do assume on certain items. You can Clearly see where your money goes and the unnecessary costs you should excise.

Managing your money is much easier when, you simplify your finances, streamlining your account, bills, credit cards, and debts. This makes it easy to stay on top of your money and make more of it.

6. Save And Invest

Save money no matter your situation. Most peoples make the mistake of only assuring themselves of saving when their income increases. But that time, never come’s and when things begin to get tough they flounder and fail. If you can’t make rooms in your budget for savings, find ways to increase your income or reduce your expenses or even better, just do both (Just save to invest to achieve financial freedom fast).

Check Also::: How to Invest With No Money

When you have saved up to 6 months or more of living expenses in an emergency fund, it’s time to start investing.  Financial freedom is achieved faster when you put your money to work for you. Of course there are better times to invest than others but since you have no clue it better to always invest no-matter what the market is doing.

You can minimize your risk by dollar cost average in the stock market. Also diversify your investment across different assets to protect yourself from unexpected surprises. Your portfolio should comprise of stocks, p2p lending, cash, fixed-income investment and real estate.

Getting to the best “Hack” of this list (how to achieve financial freedom)

7. Avoid Debt, Unless It Makes You More Money

You can’t become financially free whiles you still owe banks or other peoples. Try and get out of debt as quickly as possible. Start off by dealing with the habit and consumers loans that got you into it first.  Then gradually work on the most high income interest on debt. You won’t become debt free over-night but the earlier you attack it the faster you will achieve financial freedom.

8. Get or Look For a Financial Advisor

It obvious but absolutely true that when, you start doing what successful peoples are doing, you will soon find yourself succeeding in everything. This is true because the law of cause and effect surely says “Whatever a man sow is exactly what he will reap” So if you are sowing poverty seed then be ready to reap it. Your goal in life of achieving financial independence is to learn from those who have already made it. They will educate and teach you more than you may need to know. The best part is they will help you not to repeat the same mistakes they did, making you reach your financial goals more quickly.

check also: how to become rich with nothing

9. Pay yourself First

Imagine you wake up every day and find $10000,000 on your bed. How happy will you be? You may buy your dream house, car, and fancy clothes. Or you will never have to work again, you will travel around the world occasionally. That is such an amazing imaginary life. But now, here you are without any of these.  But it doesn’t have to be this way. The secrets of achieving financial freedom start with paying yourself first.

Create automatic savings and for every dollar you receive, set aside some amount of it to flatten your pulse. No, that is not what I mean (save this money to invest rather) When you start valuing yourself that is the time you must start to pay yourself first before anyone. Any penny you pay yourself will soon compound over time. And hence investing such money and consistently keep paying yourself will help you to become financially independent more quickly.

You are almost done with this secrets guides but..

There is one “Powerful” magic hack you must know before you even have to learn, how to achieve financial freedom…

10. Take full responsibility of your life

Let do some simple experiment here. Take a blade and cut some small part around your hand. Did you felt any pain? Of course, you did but I did not. I did this experiment yesterday and I began bleeding heavily. But tell me, who felt the pain? Me right? Yes, that is how you should see your life. To be breaking your back in your 60’s still working  9 -5 and to be sitting in the beach and be watching your earnings pull in your account, it all depends on you, my friend.

Don’t look forward for anyone to make things happened for you. Go out and get the work done to build your future, that is your responsibility not the world.

Check Also::: How To Be Rich And Successful In Life Fast

Final thought on achieving financial freedom or independence

So in conclusion, there are no get-rich-quick schemes for building wealth. To become financially free with enough money to play around, you must put in the work and the discipline required. Putting all these above tips (how to achieve financial freedom quickly) into practice, and making a habit out of it will accelerate your growth financially and set you up for a great future.

In Summary, (1) Start with a plan (2) Stop exchanging time for money (3) Invest in yourself (4) Live beneath your means (5) Learn to manage money (6) Save to invest (7) Avoid debt, unless it makes you more money (8) Get or look for a financial advisor  (9) Pay yourself first  (10) Take full responsibility of your life.


About justice

A software engineer, graphic designer, web developer, copy writer, as well as a blogger
View all posts by justice →

1 thought on “How To Achieve Financial Freedom: In 5 Years (Independence)

Leave a Reply

Your email address will not be published. Required fields are marked *