How to Get Financial Freedom?
Financial freedom simply means financial freedom, freedom from the daily worry of earning money,
Freedom Means that we have the freedom to do what we want to do,
For Example - Suppose I want to become an artist / artist, but because of the money that I get from my job, I cannot earn money immediately by becoming an artist, and therefore I am working and running my home, on the other hand. If I stop working for a few days or a few months, then it makes me very happy to maintain my same lifestyle.
And keeping this in mind, I do not want to continue to work and am not able to fulfill my dream of becoming an artist,
So it can be said that - I am not financially independent and that is why I first need financial freedom so that I can fulfill my dream of becoming an artist .
So let us know in today's post how financial freedom can be achieved?
How to get financial freedom?
Before understanding how to achieve financial freedom, it is more important for us to understand that - what does financial freedom mean to you or someone else?
Because if you look carefully that - we all have different income, and our expenses are also different according to our needs, we all have different families, and each one of us has a financial need. Quite different from each other,
So the first thing we have to understand is - what does financial freedom mean for you and your family?
How much money will be deposited with you or how much passive income you will get, which will be enough for your family to live their desired living standard,
For Example - Subhash works in a company that has a salary of 20 thousand rupees, and he is running his house with a good salary of 20 thousand rupees, only he has little money sometimes for a big need or for emergency. If you go, then in such a situation, Subhash salary will be 25 thousand or 30 thousand rupees per month, and he starts regular saving and investing some money to meet his big needs like child's education, buying a house, retirement and emergency. If you do, Subhash can live a better life financially,
But, the thing to think about is that despite living a good lifestyle, Subhash entire income is getting from the job itself, and whether Subhash likes his job or not, he has to go to work every day so that he can financially have a better life Could live .
So despite having such a good lifestyle Subhash is not financially free, and not having financial freedom, Subhash himself cannot do what he wants to do, because he will be short of time, and he spends most of his time in the job gives .
Now the question in such a situation is - how can Subhash achieve financial freedom?
So the answer will be that -
If somehow Subhash starts receiving 25 to 30 thousand rupees per month not as a passive income, then he can easily move towards financial freedom,
So even one thing is decided that no matter how much money you earn in active income, but you will not be able to achieve financial freedom,
Financial Freedom and Passive Income
Financial freedom is directly related to passive income,
The more and the stronger passive income source you have, the more financially free you can be,
Now the question is - how will you earn passive income to achieve financial freedom?
So the answer is -
There are many different sources of earning passive income, it is up to you what kind of passive income you would like to earn .
Some of the major ways to earn passive income -
- Interest from bank fixed deposits,
- Rental income
- Dividend income from investment in stocks / mutual funds
- Income from a business in which you do not work actively.
- Income received as royalty / copyright rights,
- Income in the form of pension.
- Passive income arising from different investments.
- Income from Internet Business (Blog / Website / Youtube / Affiliate Marketing).
So if you want financial freedom, then you definitely have to work for passive income and as soon as you have enough passive income source, you will become financially free and then you do not need to do everything that you do today Doing, After getting financial freedom, you can do your favorite things, and you can say no to what you don't like and live a high level of self-respecting life .
To achieve financial freedom, you can create a blue print of your own by following these steps -
- First of all, find out how much money you need to live your favorite life,
- In the second step, you should know how much money you need to live your favorite life, how much money you can get as a passive income.
- Now you have to work for active income as well as passive income and as soon as you start earning as much money as passive income, you will be able to get financial freedom in this way, if you need money.
- Now you have to pay attention to your net worth and investment for all your small and big needs, that is, you have to build an economic security shield with the help of passive income so that you can stay in that financial security shield.