Are you going through your own personal financial crisis? Are you looking to achieve financial freedom? You’re not alone. Many of us, especially the working class, are seeking that road to financial freedom so we won’t have to worry about our financial needs for the future. There are just so many things to consider – emergency funds, children’s college funds, retirement funds – that sometimes you can’t help but dread the thought of that next due payment. The truth is, anyone can achieve financial freedom; all it takes is careful financial planning. Analyzing and controlling your daily expenses can help you build up your daily wealth and help you get on the road to financial freedom. This article will show you how you can get started.First of all, if you’re a user of credit cards, pay off your credit card debt. Sure, credit cards might seem handy since you don’t have to carry a lot of cash unnecessarily, but the extraordinarily high interest rates on credit cards can lead to credit card debts that can cancel out even the greatest investor’s gains. The biggest problem with credit cards is that it encourages impulse buying, and most people end up buying things that they don’t necessarily need. A lot of people lose track of their expenses and end up accumulating more payables than they can afford to pay off. Buying on credit will not help in your efforts to achieving long term financial freedom, because realistically speaking, as long as you have a credit card, you’re in continuous debt.After you’ve paid off your credit card debt, cancel your credit cards and stop using them. If you lack the discipline to resist the “grab and swipe” temptation, it’s the best thing for you. If you don’t have it, you won’t be tempted. But if you absolutely must have the convenience of “cashless” payment, consider a debit card instead. Debit cards should instill in you the discipline of prudent spending, because with debit cards you’re spending what you have in your bank account rather than spending on credit. For most people I know, the fear of seeing a shrinking bank account balance with every expenditure is enough to stave off any other temptation to buy on impulse. They think twice about swiping for that new gold bracelet they might like but don’t really need. Debit cards can help you control your finances if used prudently.Achieve Financial Freedom
Are you going through your own personal financial crisis? Are you looking to achieve financial freedom? You’re not alone. Many of us, especially the working class, are seeking that road to financial freedom so we won’t have to worry about our financial needs for the future. There are just so many things to consider – emergency funds, children’s college funds, retirement funds – that sometimes you can’t help but dread the thought of that next due payment. The truth is, anyone can achieve financial freedom; all it takes is careful financial planning. Analyzing and controlling your daily expenses can help you build up your daily wealth and help you get on the road to financial freedom. This article will show you how you can get started.First of all, if you’re a user of credit cards, pay off your credit card debt. Sure, credit cards might seem handy since you don’t have to carry a lot of cash unnecessarily, but the extraordinarily high interest rates on credit cards can lead to credit card debts that can cancel out even the greatest investor’s gains. The biggest problem with credit cards is that it encourages impulse buying, and most people end up buying things that they don’t necessarily need. A lot of people lose track of their expenses and end up accumulating more payables than they can afford to pay off. Buying on credit will not help in your efforts to achieving long term financial freedom, because realistically speaking, as long as you have a credit card, you’re in continuous debt.After you’ve paid off your credit card debt, cancel your credit cards and stop using them. If you lack the discipline to resist the “grab and swipe” temptation, it’s the best thing for you. If you don’t have it, you won’t be tempted. But if you absolutely must have the convenience of “cashless” payment, consider a debit card instead. Debit cards should instill in you the discipline of prudent spending, because with debit cards you’re spending what you have in your bank account rather than spending on credit. For most people I know, the fear of seeing a shrinking bank account balance with every expenditure is enough to stave off any other temptation to buy on impulse. They think twice about swiping for that new gold bracelet they might like but don’t really need. Debit cards can help you control your finances if used prudently.
