Many guys ask me, “how to achieve financial freedom?”
I say, “It’s easy, it’s only 6 steps.”
1) Avoid ANY debt
Debt is modern slavery.
- Interest loans are for slaves.
- Credit cards lock you into perpetual debt.
- Mortgage that takes 25 years + to pay off is bad business.
- If you can’t pay for your car in cash, don’t buy it.
The easiest way to stay debt-free is to not play risky games with banks that profit from people taking loans and using credit cards.
There is never a good reason to get into ANY Debt. Save and use your OWN money.
This is how to achieve financial freedom.
2) Always have big savings
Cash is king and you should always pay in cash, especially for more expensive items. Make sure when you are buying stuff that you have enough money at your disposal, ie in savings.
With your savings amounting to $20,000 then you should never purchase anything close to that amount.
When buying a car, find one that costs a fraction of what you have saved. With $20,000 saved up, buy a car that is no more than $2000-$3000.
3) If you can’t pay for it in cash, DON’T buy it
For some odd reason, most people think that getting into debt over a house loan is a smart idea. They convince themselves that being $400,000 in mortgage debt is completely normal.
This off course changes when they realize that it’s virtually impossible to pay this debt off with their small salary.
Buy houses, apartments and cars with cash. This is when people know how to achieve financial freedom.
4) Working a job compared to creating your own business
Jobs are just that, to make people spend their best hours of the day making someone else rich.
The word job stands for, “just over broke”. This means that a small percentage of people working day jobs will ever get wealthy from it.
When you work for someone else, you are their employee and they are your boss.
You spend the best hours of your day building an empire for someone else and then tomorrow you can get fired.
Whereas, when you work for yourself, building your own business, every minute you are busy working on your own gigs is you making yourself richer.
You get to keep that for yourself. This is the way to learn how to achieve financial freedom.
5) Don’t try and impress anybody
Many guys I know especially, love keeping up the appearance that they are wealthy beyond their means.
When their friends buy an expensive sports car for $100,000, they are desperately organizing finance to buy one that costs $200,000.
I measure success as follows:
- You have no debt.
- You are cash rich and have savings.
6) Greedy people pay twice or thrice
Being greedy has destroyed a lot of people. Greed is what makes us create mistakes that cost us dearly.
A greedy man will always be cheap. He will buy crap and then come back and pay for a quality item twice or three times over because he was cheap at the start.
He will also pay less to his partners and employees and then act surprised why no one likes him, people try and rip him off and workers quit working for him.
- Avoid ANY debt
- Always have big savings
- If you can’t pay for it in cash, DON’T buy it
- Working a job compared to creating your own business
- Don’t try and impress anybody
- Greedy people pay twice or thrice
Until next time,
Alex
Stewy says
Great article mate, thanks for posting this.
Take control of your money… you will be forever free.
Cheers.
Thanks Alex. Love this.
Compound interest is my best friend! I drive 10 plus yr old vehicles happily. Everyone in society and especially women are DEBT SLAVES!! Timmy C the forever bachelor.
Hi Timmy,
Good to hear it, be healthy and wealthy and wise!
Alex
smallpox killed 300 million – are you saying that the vaccine for smallpox did this? How on earth did smallpox achieve this following your theory?
Hi Paul,
Who told you this? Were you there to count all the numbers?
Much like today, the media has always been about sensations… and fraud.
Kind regards,
Alex
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