How to attain financial freedom Pt.2

Time and seasons change but money remains relevant in one’s day-to-day living. Financial freedom is having enough financial resources to pay for one’s living expenses and capacity to afford many of one’s life goals.

The fear of poverty has being the major trigger to majority seeking to attain financial freedom. The capacity and capability of one to be able to meet one’s needs and wants describes financial freedom at simplicity.
First, it is imperative to adapt the idea of multiple sources of income. It is considered dangerous to put all of one’s eggs in one basket. Multiple income streams is a wealth building system. It reduces reliance in one source. There are passive and active income streams. Active is where you work for someone or provide specific services and you are paid for such work, passive is where you are generating income without necessarily always doing work or being physically present.

Second, avoid debts. Try to build your income and get out of debt. Ensure you make a budget and try to keep to it. Master a frugal lifestyle and distinguish between things you need and want to avoid running into debt and keep it that way. Also, take care of your belongings as it is cheaper than replacement.
Lastly, practice self discipline. Discipline is one inherent factor to achieving financial freedom.

This is because success requires tough level decisions and the commitment to a future that is worth fighting for. Knowing what to do to achieve financial freedom is easy but doing what you know is the hard and important part.