I have studied this subject for a few years now. I have read many books and watched many videos. I’m always analyzing things and I have been looking for the formula to financial independence. After some thorough research, I have discovered the first steps to financial independence. Before I get into the first steps to financial independence, you should know exactly what financial independence is.
What is financial independence?
You may define it as:
- Being wealthy
- Being rich
- Financial Freedom
- Having a lot of money
Financial independence is the ability to do whatever you want, whenever you want, with whoever you want. So basically, you can do whatever you want to do without any restrictions. The most common restriction is money. When you make money your slave, you are in your first steps to financial independence.
First Steps To Financial Independence
Develop the habit of paying yourself first
This is the big key in your first steps to financial independence. It is highly suggested that you set aside 10% of your income and place it in an investment account. This money should only be used to create passive income streams and investments. You never spend this money until you are walking in financial independence. With this money you can invest in stocks, bonds, businesses, and other investments.
Give 10% of your money to God
This is a spiritual and universal prosperity law. When you give tithes, you reverence God as your source and it puts you in position to receive the blessings of God. I did this alone and all my needs have been met whether they are in finances or other areas.
This also shows you the abundance you have to even give 10% of your money to God.
Follow and stick to a budget
When you learn to manage what you have now. You put yourself in position to receive more. There’s a budget I follow, I use T. Harv Eker’s Money Jar system to manage my money. To learn how to put this system together, click here!
Start a home based business
Starting your own business allows you to put yourself in a position to receive all the tax benefits and it also gives you the opportunity to make another income. With starting a home based business, you also have the ability to connect and network with like minded people who are also trying to obtain the same goals as you. This is actually offered in the Vision Birth Mastermind, click here, put in your email and watch the video for more details.
These first steps to financial independence has already made a big difference in my life and finances. I wanted to share my success and wisdom with you so that you can be successful as well.
Jay The Analyst
Work With Me – PartnerWithJay.com
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