The 5-Step Plan To Financial Freedom:
1. Know where you stand (Your current state)
2. Set a goal (Your ideal future state)
3. Make a plan to get there
4. Track your progress
5. Stay flexible
You can use this blueprint to achieve any financial goal
Here's how:
1. Know where you stand (Your current state)
2. Set a goal (Your ideal future state)
3. Make a plan to get there
4. Track your progress
5. Stay flexible
You can use this blueprint to achieve any financial goal
Here's how:
1. Know your current state
You won’t know where you stand with your finances until you start tracking them in detail
This means knowing your: income vs outgoings, credit score, disposable income, etc
Cont...
You won’t know where you stand with your finances until you start tracking them in detail
This means knowing your: income vs outgoings, credit score, disposable income, etc
Cont...
These factors will determine your options for growing your wealth
There are some superb tools for this, more on that in a bit…
There are some superb tools for this, more on that in a bit…
2. Set your goal
Firstly, make it ambitious: ‘save $100,000’ or ‘buy my first rental property’
It’s got to be something you really want, otherwise you’ll never stick to it
Firstly, make it ambitious: ‘save $100,000’ or ‘buy my first rental property’
It’s got to be something you really want, otherwise you’ll never stick to it
Next, make the goal SMART
Specific – A number
Measurable – So you can track progress
Achievable – something realistic
Relevant – to what you want to achieve
Time-based – have an end date in mind
Specific – A number
Measurable – So you can track progress
Achievable – something realistic
Relevant – to what you want to achieve
Time-based – have an end date in mind
3. Make a plan
This can seem scary
But you just need to approach it step-by-step
Figure out what the first thing is that you need to do to start making progress
Then break that into smaller steps, and start executing on that plan
This can seem scary
But you just need to approach it step-by-step
Figure out what the first thing is that you need to do to start making progress
Then break that into smaller steps, and start executing on that plan
And remember
It doesn’t have to be perfect, it just needs to take you closer to your goal
Cont...
It doesn’t have to be perfect, it just needs to take you closer to your goal
Cont...
4. Track your progress
This is key for 3 reasons:
i. It helps to keep you accountable
ii. It’s helpful when you run into hurdles that make you want to quit to remind yourself how far you’ve come
This is key for 3 reasons:
i. It helps to keep you accountable
ii. It’s helpful when you run into hurdles that make you want to quit to remind yourself how far you’ve come
iii. If you start to go off track, you’ll know about it sooner rather than later. Giving you the chance to make changes where needed
5. Stay flexible
The road from your current state to your future state may seem clear now
But along the way, you’ll be faced with failure, hurdles, rejection and frustration
It’s important to stay flexible with your plans so your response is not to quit
The road from your current state to your future state may seem clear now
But along the way, you’ll be faced with failure, hurdles, rejection and frustration
It’s important to stay flexible with your plans so your response is not to quit
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