7 Essential Money Skills for Financial Freedom!

Have you ever envisioned the thought "What if I can be financially free?" How wonderful it would be...

1) No more working from hand to mouth, just enough to pay bills, and loans, repeating this for the rest of your working career. Yikes... right

2) No more endless hours at work just trying to prove yourself in this endless rat race, because even if you win, you are still a rat.

3) The ability to enjoy life truly, spend more quality time with your family, bring your family to vacations, or to nice restaurants whenever you like

4) The ability to pamper yourself with indulgences which you were not able to do previously

Nice thoughts. But you probably think i am just a day-dreamer? Well yes, and no.

Yes, because day-dreaming inspires me with new ideas on how to lead a better quality and more fulfilling life; afterall we only live once, so lets make it all worthwhile!!

No, because with new ideas, we can analyze the various opportunities, and decide on the most viable and effective approach, and drive towards it. With ideas comes opportunity, with opportunity comes Action, with Action comes Results!

Hence, today I would like to share with you some Essential Money Skills that will start to make you a better person at maximizing your cash on hand to be one step closer to financial freedom.

Quote from Benjamin Franklin

"The way to wealth, if you desire it is as plain as the way to market. It depends chiefly on two words, industry and frugality; that is waste neither time nor money, but make the best use of both."

7 essential money skills all people should be equipped with:

1) Value Money

2) Control Money

3) Save Money

4) Invest Money

5) Make Money

6) Shield Money

7) Share Money

Essential Money Skills (1) - Value Money

Do you value money? Do you know the implications of losing money today and the impact on your future value? Do you spend almost all your monthly salary, and have nothing to save? Guilty? You are not ALONE.

Unless we start to value the importance of money, we will not fully appreciate the value of work, the need for saving, and the power of accountability.

It is very important to account for all your money, to know in details your income and expenses, which helps you know if you are only barely meeting life's requirements, or you have surplus cash to manipulate with.

Essential Money Skills (2) - Control Money

I believe like most people, you have only one source of income which is your JOB. This is the source of income which will pay for all your own and family expenses, and which is one which you have to keep working in order to continue this income source. What if you are sick for an extended period and cannot continue working?

The only way to overcome this situation is to have multiple streams of income. Only when this is achieved will you truly face financial freedom, and start to enjoy life freely.

Essential Money Skills (3) - Save Money

Even if you have tons of money, if you don't save it, you wont have any surplus money to spare and grow new money. This is termed "Cash-Flow Management". You need to increase the input and reduce the output; this surplus is your ultimate secret to financial growth. With surplus cash on hand, there are various investment tools in the market which can leverage your portfolio, and potentially lets you grow lots of money using your existing money base.

Essential Money Skills (4) - Invest Money

Some of the common investment tools in the market currently include stocks, shares, equities, bonds, property, and also internet sales. With so many choices, it is best to go through the details with an experienced financial planner who can help you make informed decisions on how to invest smart and effectively. Do be wary though of salespersons who are only interested in selling high commission products but which do not fit into your long-term plans.

Essential Money Skills (5) - Make Money

Once you have chosen your investment path, it is time to sit back and have some patience and watch the money grow. "Money grows on the trees of patience"

Essential Money Skills (6) - Shield Money

When you have money, you know it does not come easy, so the next step is to shield it. To protect it and stock it aside for a rainy day, or to use for further investments. However, you should at least keep a liquid cash saving which can last you around one and a half year just in case.

Essential Money Skills (7) - Share Money

With more cash on hand, you can now achieve what i mentioned at the start of the article. To be able to spend more quality time with your family, bring your family to vacations, or to nice restaurants whenever you like, and the ability to pamper yourself with indulgences which you were not able to do previously. You could also potentially quit your current job and pursue your true interest. Isn't that you and me have been desiring all this while.

Conclusion

To conclude, I believe that you are just like me seeking the route to financial freedom. "Time and Tide wait for no man". Hence, it is very crucial for you to start planning today, and to put the 7 essential money skills to use daily.

With ideas comes opportunity,

With opportunity comes Action,

With Action comes Results!

Originally Written Article here.

The author Jimmy Lee is involved in article writing, publishing, and website design on a freelance basis amid a daytime job as an electrical engineer. His favourite works can be found at http://flashgor.blogspot.com/ and http://www.diypc.wordpress.com/

Disclaimer
Contact Us
Index
Monday
Work Related Stress
Bob Geldof and The Boomtown Rats
Idlm
Google
Stress
Tell me why I don't like Monday
Terms Conditions
Privacy Policy
Disclaimer
Contact Us
Index
Monday
Work Related Stress
Bob Geldof and The Boomtown Rats
Idlm
Google

Financial Freedom Resource - Helping You Live the Life You Deserve

If you are serious about seeking financial freedom, you'll find that there is a financial freedom resource that you can always turn to for help and will always be there to assist you.

The Internet

If you are serious about seeking financial freedom, you'll find that there is a financial freedom resource that you can always turn to for help and will always be there to assist you. In fact, it is the only financial freedom resource that you can use 24 hours a day, seven days a week, and 365 days a year. So anytime you need it, the internet is always available to give you the most valuable and updated information you can get on how you can be on your way to financial freedom. In fact, there are a lot of websites available online that give you advice on almost anything about financial matters such as:

- how to budget and manage your finances

- how to pay your debt

- how to save and invest your money

- how to get a well-paying job or build your business

- how to use financing and credit wisely

- how to make passive income or create multiple streams of income

- how to develop a millionaire's mindset

Aside from giving you the advice you need on such financial matters, these websites can also help you find other financial freedom resource such as:

- books

- CD's and DVD's

- seminars

- workshops

- e-courses

- trainings and boot camps

The Library

Having difficulty or no internet access should not hamper your quest for financial freedom. Aside from the internet, you can always check the library in your school or in your neighborhood. The library has always been a traditionally reliable financial freedom resource especially if you don't have extra money to buy your own books, journals, and magazines on financial matters. Indeed, you can always borrow free of charge from the library all the reading materials on personal finance or business building you can find to help you be on your way to financial freedom.

Financial Institutions

Aside from the internet and the library, another quick and reliable financial freedom resource is the financial institution. You can always drop by anytime in these financial institutions and check if there are seminars or workshops to be held with regards to financial matters that best suits your needs. A lot of these financial institutions offer these seminars for free which are usually designed to help educate people handle their finances properly and help them get on track towards financial freedom.

Personal Finance Mentor

A personal finance mentor can be your most rewarding financial freedom resource. Getting your own personal finance mentor need not be difficult and expensive. To have your own personal finance mentor, all you have to do is look for someone you know who can help you achieve your financial goal and simply ask him/her. From my experience, most of these people with financial expertise are willing to share the things they know. If you want to pay but you don't have the money, then you can offer to help them and do other services in exchange for the knowledge you get from them.

Any of the above financial freedom resource can only be as good as you let them help you pursue your dream of financial freedom. So I urge you to use it to your advantage and act on its advice on how you can have financial freedom and live the life you deserve.

Stevn Miller is passionate about learning wealth creation strategies and financial freedom with millionaire Jamie McIntyre who owns 21st Century Academy and it's group of companies. He is passionate about teaching people to get a 21st century education, and be able to get out of the rat race, achieve financial independence, be successful and contribute more to society.

Disclaimer
Contact Us
Index
Monday
Work Related Stress
Bob Geldof and The Boomtown Rats
Idlm
Google
Stress
Tell me why I don't like Monday
Terms Conditions
Privacy Policy
Disclaimer
Contact Us
Index
Monday
Work Related Stress
Bob Geldof and The Boomtown Rats
Idlm
Google