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The Four Phases Of Financial Freedom That Will Help You Start Make Money - Business - Nairaland

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The Four Phases Of Financial Freedom That Will Help You Start Make Money by samowo01: 11:32am On May 18, 2020
It’s a proven fact that most of our life decisions are made based on satisfying our financial needs. Being financially free is breaking free from the chain of financial burden. It is when you are able to make life decisions without financial stress.

In this post you’ll be learning the following

Definition of financial freedom
Factors affecting your finance
The financial freedom framework
Action points that can help your finance

Financial Freedom can be described as a financial state where you generate passive income enough to meet your needs. It can also be described as a point where you don’t need to work for money anymore. Your money begins to work for you. You are financially free when your total annual expense is just 4% of your net worth, your net worth being 25 times more than your expense. At this phase, you can work when you want to, in addition you will also have enough time to do things you are passionate about. Being rich is you having money while being wealthy is money plus time.

The saying “planning for financial freedom is more of a marathon than a sprint” is more of reality than illusion. Breaking the strategies to achieving these goals into small chunks can help relieve the stress and would also make your journey easy and manageable. Money is the language everyone understands, with you having financial freedom you can speak at various levels and with this tool make the world a better place.
It is difficult to make progress without understanding where you currently stand financially. Having a good picture of your financial stand is a good starting point. There are basically two factors that determine your financial state.

To keep reading click on the link below


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