FINANCIAL FREEDOM 101

Unless you’ve been hibernating for a long time you have very likely heard the term “financial freedom”. This term, and its pursuit by many, has likely helped fuel the somewhat recent crypto craze and many other get-rich-quick pursuits. So whether you know it or not, financial freedom is what most of us (including you) are pursuing.

It’s therefore really important to know and understand what financial freedom actually is, how it works, and most importantly, how you can best achieve it within your needed timeframe.

First up, financial freedom occurs when you have saved and invested enough money to support your current and future living costs without you needing to earn money. You don’t need to work for money because you have accumulated enough financial wealth to provide you with what is known as a passive income (generated from interest, dividends etc from your wealth). You may still choose to work for other reasons – but you’re free from the need to work for money.

JUST TO BE CLEAR, ANYONE CAN ACHIEVE FINANCIAL FREEDOM!

To achieve financial freedom (and pretty much any money goal) you need to follow a very simple formula:

Spend less money than you earn, use the savings to invest and build financial wealth. Keep doing this until such time as your financial wealth generates enough passive income that you no longer need to work for money.

A large part of our focus and efforts is helping to ensure our members have taken control of their cashflow. We do this because we know with almost certainty that the key to long term financial success is ensuring you spend less than you earn, then use the savings to build wealth. You need to ensure you become a master at this! Once you nail this, the investing bit is really simple. Seriously!

We often talk about “surplus funds”, being the money you have left over once your income is used to pay for essential spending. If you decide to put more of these surplus funds towards investing, and less on “wants” then you will accelerate your pursuit of financial freedom. Many of us spend more, if not all our surplus funds on discretionary funding, therefore making financial freedom a very difficult pursuit. It’s up to you to decide the balance of savings versus spending that works for you.

If you’re struggling to save or wish to accelerate your pursuit of financial freedom, you can (and should) scrutinise your essential spending, negotiate with providers, look for better deals, and strip fees and costs where you can. By doing such, you should have even more surplus funds and can further accelerate your pursuit of financial freedom.

These are simple yet extremely powerful strategies understood and embraced by financial winners. If you become a master at spending less than you earn, saving and investing you will create a wealth and progress towards your version of financial freedom. If you add on some protection for your income (think insurance) this is no longer mission impossible, it becomes mission possible by X date.

You need to balance your pursuit of financial freedom to ensure you enjoy your lifestyle today, and next year and so forth… it becomes a balancing act and this is why planning and thinking big picture is important. You need to see the forest from the trees.

Everything you need to become a financial winner is laid out within our Wages to Wealth program. It’s not hard and it’s okay if you suck at maths – just follow our lead. One small step followed by another small step.

To our knowledge there is no pill you can swallow that gets you men a six pack, and its no different when it comes to money, there really isn’t a lottery ticket that will make you a financial winner. But by taking one small step at a time, you can and will become a financial winner!

Money is simply the fuel we all need to live our lives. If you use this fuel wisely we’re almost certain you will enhance the life you and your loved ones live.

We want you to succeed! We are passionate about helping you on this journey – let’s do it together!

Cheers,

Dan and Dave