4 Keys To Becoming Financially Free
If you pay attention to the information I’m getting ready to share with you right now, you’ll end up being a wealthier person down the road.
My goal is to see you totally financially independent. Does that make sense? I hope it does.
One of the concepts you’ve got to develop is the concept of ‘Pay Yourself First’. Here’s what I’m talking about. There’s a book called ‘The Richest Man in Babylon‘. Now, I don’t have time to tell you the whole story behind the book.
One of the basic concepts discussed in this book is that of paying yourself first. If you don’t do anything else, go get the book. It’s probably $5 or so at the book store. Read chapter number two as soon as you get the book. This is a must do.
The book is written in the form of a parable. It’s an easy read and a fun read but the message behind it is powerful.
Another key to winning the money game and also the life game is living below your means. If you’re making $2000 a month, figure out how to live on $1800 a month.
You say ‘Etieno, I have too many bills’. Trim them back. Cut out the cable if you have to…cut something out. You’ve got to have a plan…not a budget. Don’t blow all your money because once you’ve spent a dollar on something, it’s gone forever.
Let money be your slave but don’t be a slave to money.
Defense wins championship.
From a business perspective, the money you save is your defense. There will be bumps in the road. It doesn’t matter where they come from. Your savings will be your defense from these bumps. Just because you can make the payments for something doesn’t mean you can afford it. A lot of people think they’ll start saving once they start making a bunch of money.
Let me tell you something, my friend. If you can’t save when you’re making $1000 per month, you won’t save when you’re making $100,000 per month.
Rule of 72
You’ve got to understand this rule. It says that if you’re earning a percentage rate on your money, you divide 72 by that number. That’s how many years it takes for your money to double.
A very important key is to study this rule. I don’t have the time to go into it in greater detail but if you would like to learn different tips and resources that will get you closer to financial freedom a lot faster, go ahead and subscribe to our newsletter below.