In the present financial fiasco where almost every developed nation is becoming a prey to the ever increasing hunger of debts and deficiencies, we all have some right to engage our knowledge and wisdom to gather money through our financial intelligence. The words like , debt consolidation and credit card counseling, are nevertheless trying to cure us from our debts and its injuries, but what about completely escaping its blows with the help of some diplomatic and calculated money-making decisions! All we need to do is just to implement and execute our ideas, agreements and concepts properly.
Let’s contemplate on the following aspects that determine your financial freedom and your capability to attract money:• Know yourself and judge your current financial status honestly. Assess your total income and expenditure and make a note of your assets and liabilities. Next, calculate your debt outstanding and also take into account any payment that is due from any source. Prepare a realistic but rigid budget that will include all your financial statements and future actions.
• Make money from both active and passive source of income. Simply speaking, your 9 to 5 job is not able enough to let you attract that extra money that you crave for. Nevertheless, it provides a secure and certain flow of cash but do positively consider all the options of passive income through wise and active investments which can be from a real estate investment; the royalty fees from a franchise, and other intellectual properties; stock dividends, interests income from simple investments, etc.
• Set short and long term financial goals and do take all legitimate and sincere actions and decisions towards achieving them, one at a go. Take each step at a time and make a full-proof plan, balancing dynamism and rigidity according to your situation. The assurance of your financial success will be more certain if you start the journey early in your life, as youth is the best breeding time of fruitful ideas and financial strength.• Earn more, spend less and save even more are the key-words to a debt free life. Evaluate your own skills and caliber, according to opportunities and circumstances. Put all your hard work, sincerity and diligence while earning, employ your power of resistance while spending and make use of your wisdom while saving your money to achieve your ultimate financial goals, after which you would be entitled to enjoy a long span of luxury, relaxation and rejuvenation.• Lastly, keep away from excessive extravagance and a habit of impulsive buying or consumerism that ultimately leads to the dark chasms of debts. Always remember that whatever amount of fortune one might make in a lifetime, can vanish into thin air, if spent continuously and callously without any returns. Even a billionaire can turn bankrupt if he takes his money for granted.