How To Declare Your Own Financial Independence In Four Steps
On a sweltering July 4th, 1776, a group gathered in a small room in a red brick building located in Philadelphia and began the process to adopt the Declaration of Independence, a simple document that would alter the future of a nation.
There were a lot of reasons the men who huddled on that July day were sweating–besides the humid 90-degree temperature. They were doing something that wasn’t just totally new and revolutionary, they were committing treason.
While (hopefully) you’re not facing treason charges and you don’t have the weight of history bearing down on your shoulders, the idea that you can master your own financial destiny is no less unconventional, or revolutionary.
Most people pass their responsibility on to financial advisors, or simply shrug off their commitment to their future and rely on luck and old “work until you retire” directive to guide their destiny.
It doesn’t have to be that way. Here are four steps you can take to sign your own Declaration of Financial Independence.
Life, Liberty and the Pursuit of a Balanced Budget: Don’t let anyone tell you what you can spend your money on, but make sure your books balance at the end of the day, week, month, and year. That means: keep expenses lower than income and manage your debt.
Give Me Liberty, Not Debt: Debt–and the typically high interest rates you pay for the privilege of taking on debt–is the biggest threat to financial independence. Making paying off your debt a main objective in the War of Financial Independence.
The Residual Revolution: Earning residual forms of income through royalties, rent, affiliate sales, pay-per-click sales, and other options have been made much easier with the dawning of the online age. Research how you can start up your own lines of residual income.
Tech Allies: Make friends with technology to improve your investment returns. There are a lot out there. You can use investing and personal finance sites, like Mint, for information, add online tools, like INO Premium TV and other services, to your arsenal, and start exploring advanced Automated Trading systems.
For those signers of the Declaration of Independence, it was just the beginning. A hard-fought war was in front of them. And these steps are just the beginning for you, too. Each day will be a challenge and each day will be a chance for you to become part of a revolution.
Related posts:
- The 4th of July and the Meaning of Independence
- Weekly Wisdom: Happy Financial Independence Day
- Automatic Income Potential From Automated Trading
- Stand Up, Don’t Layoff: Four Ways To Seize Your New Financial Future
- When Your Dream Job Turns To The Job-From-Hell
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is one of my favorite financial books of all time. It's an allegory about a guy who has a terrible job, and how he overcomes challenges to achieve his dreams.
