Can you do me a favor and pause for a moment? Clear your mind of all the traffic in there, the deadlines, family demands, errands you need to run, and other issues.
And just picture for a moment –
walking into your boss's office, and handing in your resignation.
Not because you scored a job somewhere else, but because you've saved up enough money, and built your own income streams, and no longer need to work for someone else.
Visualize it. Think about the look on your boss's face. Think about the rush and excitement you might feel in that moment.
It doesn't have to be a dream.
It doesn't have to exist only in your imagination.
There are people out there who are making it happen every day. You can too.
But only if you believe it.
steps to Financial Freedom
Write a personal manifesto that declares the following:
- A detailed explanation of what your dream life looks like and why it matters to you.
- How much money you need to save to quit your day job and start living your dream.
- How long its going to take.
- How long you want to take off for – it doesn't have to be forever. Give yourself the opportunity to return to your day job if you decide to later.
This post will teach you how to write a manifesto and gives a free template to get you started.
You need a plan – a wealth creation strategy. This post is a good starting point, with another free template to get the ideas flowing.
Create a budget. This is a key step in building wealth. You must have a monetary plan to grow your savings.
- Start by understanding your spending habits.
- Next, set up your bank accounts as a digital envelope system.
- Finally, build a budget that you can follow. Update it regularly. Track your actual expenses and compare back to your budget every month.
Start a side-hustle that marries your favorite hobby with a new income stream. This can be a way you make money after you quit your day job, so make sure its something you love to do. You can do this locally or online, depending on what appeals to you, and what your plans are after you reach financial freedom.
For instance, if you plan to travel a lot, you may want to focus on digital income.
Develop an investing strategy for your savings. The stock dividend income approach, or high interest on peer-to-peer lending are two great options.
Nail your savings goals by scoring bonuses at work, hitting all of your savings targets, earning interest/dividend income with your nest egg, and building up your side hustle. The closer you get to your target, the more motivated and excited you will be. You got this!
Quit your day job and focus on own business. Live your with purpose and freedom. Financial nirvana!
Join the Beyond Pennies tribe and receive free information weekly on how to achieve financial freedom.