Life is free, and you should have the freedom to live well. Living well comes from habit and your habit will affect every part of your life. Financial independence is all most people crave after good health. With a good habit, financial independence is achievable. Your size of living matters and you are financially independent when your passive income is enough to cater to your needs. For you to achieve this, you need to first set the differences between what you earn and what you spend. Once you give a good gap/space, you can invest to be free.

I will show 5 points that can move you closer to financial freedom.

Fix the Main Problem

There is a minimum standard of living and no matter how frugal you are, you cannot save/invest enough to hand you financial freedom. I see many people saying they would love to invest in bitcoin but some of them earn $200 monthly and with the inflation level in my country they will owe after the salary. Now, the first problem is the income level. It is important to earn enough to save/invest.

You have to first think of a profitable skill you have and how it can hand you more dollar bills. You work as a Merchant Teller in the bank but have a good dancing skill. How about you invest your Saturdays in videos about dancing and monetize it? You need to know the right problem that is limiting your income and fix it.

The Important Thing Money Buys is Time.

You don’t have all the time in this world. You can use your money to do anything you like, but it is more important you use your money to buy time because it is the most important thing in the world. Money is not limited. If you have now, you may go broke and you still later have again. Therefore, money isn’t that important as time. Instead of using your weekend to shop through different supermarkets trying to get cheap groceries, you can spend an extra $20 to get your groceries in a store and use the remaining time to do the things you like. When you have successfully fixed the main income problem, don’t stay through the weekend cleaning your home. Spend an extra $15 to get someone to fix them for you and invest the moment to spend time with your family.

Money Buys Choices.

There are statements I find a bit “irritating”- “money is not everything” or “I will rather be happy than be rich”. But you go out every day to work and look for money and you do things because you want to make some money. Money does matter. I think the right statement should be “buying expensive things does not matter”. Using $10,000 to get a Louis Vuitton umbrella doesn’t matter when you can use less than $20 to get an umbrella. Money matters when you want freedom, and it is your choice that drives how you spend your money.

You Can Afford Anything Not All Things

Your values show from how you spend your money. If you prefer to spend the Fridays in the club and buying expensive wines and you claim “I can’t afford to invest in hive”.

You can afford other things. You just adopt a habit of spending mindlessly. There is nothing wrong with having fun and spending the Fridays in the club if it is a deliberate choice, but you should know that you can afford anything, you just need to divert your spending and investment. If you have a plan of acquiring an asset worth $100,000, you can start when you have $10,000.

The One Percent Challenge.

Take one per cent of your income monthly and save. Well, don’t just save, invest to make more. Calculate 1% of your monthly income.

If you earn $200, your 1% is $2

$2,000 1% is $20

$20,000 1% is $200

You will take one per cent of your income every month to invest/save. So, if you earn $2,000 and you save $20 in month 1, you will take another extra one per cent in month 2 and save $40, month 3 try $60. Try this for 2 years and see the improvement in your finance.

My name is @tykee (Barlogun Michael), a web developer, Civil engineer, content writer and the founder of Meshboc Technology & Digital Services Limited. I am using my content to share my opinions on tech, lifestyle, and finance, to promote myself and impact my readers. I like to learn. Education is the most thing I cherish.

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