In previous post I’ve talked about the relationship I’ve found between minimalism and freedom. I think being a minimalism has made me feel like I have so much more freedom in how I spend my time and with that I have been studying how to feel free in my financial situation. Minimalism is about less. When it comes to finances this doesn’t mean less money but rather less bills, less stress, less payments. I’m no expert on how to build wealth or how to invest your money but I know how good it feels to have financial freedom. Living paycheck to paycheck means your broke. A life where I spend every paycheck on bills is not a life I want to live. In researching financial freedom I complied a list of some things that are necessary to have financial freedom and also for just overall happiness.
Get rid of debt
When you owe money, you can’t get ahead. You’re always negative, if you have a lot of debt I would suggest looking into Dave Ramsey he is a great resource for finding ways to pay down your debt.
Buy things you can afford, if you buy stuff at all.
We all need some stuff, but do you really need a brand new car if you don’t even have a emergency fund?
Invest in yourself
Like I said I’m not a expert in investing by any means but I heard this somewhere and I think it’s great advice, “the best investment you can make is in yourself.” No one knows you like you do so bet on yourself and challenge yourself to get a return on your investment. For me this is my education, think about how you can invest in yourself.
If you are itching to spend money, spend money on experiences
They say that those who spend money on experiences are usually more happier then those who spend money on material items.
Save for a raining day
Save yourself stress. It will rain. There is no doubt about that so be prepared.
Increase your income (passive income)
I love passive income, passive income is, “income resulting from cash flow received on a regular basis, requiring minimal to no effort by the recipient to maintain it.” They say millionaires have 7 streams of income. If you hate your job I wouldn’t suggest picking up more hours but fine something you enjoy and see if you can profit from it.
Be grateful for everything you have even if you could have more. Practicing gratitude is so important for your overall happiness and well being.
I hopes this helps you to make efforts to feel more financially free. If you would like more information about building wealth I would highly suggest checking out Dave Ramsey he has some great tips for finances.