What would life be like without having to work day by day to live as we want? The dream of all is to work for the pleasure of having professional satisfactions and not for subsistence needs. For most people, life is spent on a daily basis, where we set ourselves growth goals to improve our standard of living and that of our family, but without having a clear idea of what our future will be like. In our scenario, we can only glimpse working very hard to achieve what we want now.
Today more than ever, due to the increasing mobility and competence of the labor force. We can’t be sure that work will continue for many years, so we must change our way of thinking.
To achieve that longed for financial independence. We need to revalue what we are doing. We must understand that the most valuable company is ourselves and that will be generous according to what we think and take care of it.
And just like any company, we can analyze your current situation and plan how to make it more productive.
Let’s start by writing about ourselves the following:
Although it seems a philosophical question, it is very important that we seriously reflect on this point. We have many reasons why to understand our mission in this world. However, and returning to the central theme of this article, it is necessary to comprehend that our mission is not to suffer all life for economic reasons, that is why it is imperative to seek financial independence.
How do I look in five, ten or more years? This is one of the best ways to mentalize to achieve our goals. It is the way to go to a well-defined point, and yet in the course of the road we are presented obstacles, other opportunities or accidents that cause us to deviate course, our vision will make us return to the route we had proposed.
There are several types of goals in our lives, such as professional, family, emotional, friendly, spiritual, and the one that concerns us: the economic one. As every goal must be measurable, that is, we must have in writing the amount we want to reach to achieve our financial independence, and also note the time in which we want to make it, without these two references any goal will be only an illusion.
Apart from wishing we need to be realistic, an unattainable goal is equally illusory, our goal must be accessible, and this can be compound in the short, medium and long term, as getting it quickly will encourage us to move forward.
In this case, we must elaborate a general plan, we recommend that it be visual, that is, a map of our life, where the objectives are included. Here the most important thing is to define how to achieve them. This is where we make decisions. If the remuneration for our current work is not enough to reach our goals. It will be necessary to think about another alternative of employment, or on additional income options.
The important thing is to draw up a plan that gives us the opportunity to generate enough to be in the position to advance our goals. It is advisable to allocate sufficient time to reflect and make changes as necessary. It requires a strong will to modify our customs or habits, and thus achieve the conditions that lead us where we want.
This is the most important factor to calculate, and is the basis for analyzing our current situation, however, to determine exactly what our income, we should consider the following:
The salary or salary with which we are contracting, without taking into account any other item.
.It is necessary to separate the taxes related to our gross salary. Expenses inherent in the performance of our activity: This type of expenditure we rarely consider as part of what we should deduct from our gross income, Gasoline or transportation to get to our place of work, food away from home, formal clothing, parking, socialization expenses. All these costs are necessary only if we work. So it is advisable that we see them as a deduction to our earnings per salary.
This should be considered as one more payment.
The savings are always left at the end of our budget. For example, if there is something left after the expenses, then we can save. The change of paradigm in this sense is fundamental to achieve our financial goals. The savings should be considered as payment, and perhaps as the most important. As important as that of income, mortgage or tuition. If we do not move in this direction, it will be challenging for us to achieve our goal someday. It may be necessary to sacrifice some unnecessary expenditure. But it will be fundamental that the savings be position within the three most important items when defining our budget.
The intelligent, educated management of our money.
Saving is the basis for starting the road to financial independence, without this there is nothing. Investing that savings are the key to grow faster to achieve the goal. The primary factor to venture in this activity is the knowledge we have of the investment tools offered by the market. It is vital that we do not venture into investments that we do not know although a financial adviser recommends us. It is necessary that we personally seek to document the product they offer us; there will never be too much information we can acquire about that tool. Then we can take decisions and measured risks. We should never act hastily.
None of the above will make sense if we do not have a firm will and discipline. Any plan we make will be useless if we do not execute it properly. Nothing should make us deviate our way, we must be active in the temptations of the moment and the social environment; our vision will help, and will and discipline will be the pillar to move forward, we will never regret not turning the course. The final benefit is very high, for that reason will not be easy, but we must move forward.
It is said that there is nothing better than achieving what we propose and in our particular economic objective. We are sure that achieving our financial independence in the shortest possible time, is one of the best challenges that will give us more excitement in our lifetime. For our own tranquillity and the people around us, to be self-sufficient now and always will be to achieve economic success.
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