Financial Freedom Series - Part 6: Basic Checklist To Financial Freedom

You want to gain complete financial freedom; but first, you need to define exactly what financial independence means to you. Following anyone else's definition won't get you to financial freedom. This is your life and your financial freedom.

Here are some basic questions to ask yourself and even write down.

  • A realistic picture of your current financial situation

  • A realistic idea as to what you'll have to give up to get where you want to go

  • A realistic assessment of the obstacles in your path

  • A series of goals that will help you to become financially independent

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Basic Financial Freedom Checklist

  • Increasing your income

  • Controlling your spending habits

  • Paying off your student loan and credit card debt

  • Understanding your savings patterns

  • Determining your investment objectives

  • Defining your long-term financial goals

  • Purchasing the right insurance

  • Implementing a legacy plan for your heirs

Commit Now that You Will Always Realistically Live Beneath Your Means

Commit to Refocusing on Your Goal Regularly

In order to become financially independent, you need to be fully committed to your plan. You should have a written plan – that includes realistic goals for each financial category – and plan to review them annually or even monthly.

The purpose is this:

  • Make sure your goals are on track

  • Keep yourself focused on your ultimate goal of becoming financially independent


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