Want to wake up without having to worry about money. Want to order food without having to look at the right side of the menu? Want to be able to go anywhere, at anytime because you don’t have to work a regular 9 to 5 job?
This is called financial freedom… and I’m going to tell you step by step how to achieve it. Even if you make minimum wage, are currently broke, and especially if you weren’t born rich, this post is for you.
My name is Adrian Brambila and it has been 14 months since I hit financial freedom. This means that the money I have accumulated and invested pays for everything I own and more, including the lifestyle I have. This allows me to travel anywhere I want to, have a nice home, nice cars, and to treat my family to nice things.
Here are the 7 steps I took to reach financial freedom…
A lot of people believe if they just made a little bit more money, their financial problems would be cured. That being said, 61% of Americans live paycheck to paycheck yet salary has nothing to do with it! Having a high income does not change anything. Your spending habits are much more important than the income you make.
2. Cost of Living
The second step to achieving financial freedom is minimizing your cost of living. As Americans, we like to live large! Many times, we live in places and drive cars that are much nicer than we can afford. We do this do make a perception of high status. This is because material object are an outlet of success and wealth in the western world.
I used to be a minimalist. I lived in a van and traveled across the country for nearly a year! Now, I have a home and a car but I still have a minimalist mindset. I do not associate my identity with material objects. I do not feel the need to “flex” on social media or “keep up with the Jones’”.
3. Good Debt vs. Bad Debt
Unfortunately, we have to talk about one of the least sexy things of finance — debt! Some say it’s all bad, some say it’s all good…