Black Diamond Self-Talk

Tuesday, September 13, 2011

Financial Freedom

Financial Freedom is accomplished when your passive income from your assets exceeds the expenses of your liabilities.

     There are multiple ways to achieve income on the way to financial freedom. Many people go to school and get a job. Trading time for money. The carrot always seems to remain out of reach. Security and stability can be found in a job, but it is likely the most difficult way to financial freedom. Running your own business. Whether it is a traditional brick-and-mortar storefront or a work-at-home product or service, having a business of your own, while riskier, can provide much more freedom and possible financial reward. The internet has enabled many to open their own business without the expense of an office. Investments. Have your money work for you. Sooner or later you will find yourself with money to invest. It takes a little money to get started, but before long you have your investments' income as one more stream of income on your way to financial freedom. Royalties or residuals are the best way. Not all of us can write a book, patent a product, or write or perform music or movies, but any of us who can, can invest in that effort and find a path to financial freedom.
     How to choose a path to financial freedom where you already have the skills. Everyone is looking for an easy answer. It can be simple, but in the long run it won't be easy. The reward, financial freedom, will be worth it. In fact, the difficulty, once overcome actually makes the reward all the more worthwhile. What do you need to satisfy you? Are you someone who just wants to have fun? It can be Fun! Once you embrace a few fundamentals, you can function solely for the fun of it. Do you focus on Money? This is one way to measure your progress towards financial freedom. One of the challenges here is that the money often starts off small, for the amount of work you do. However, over time, you find that you have to do less and less work, but get more and more money. Details. Do you really get into all the nitty-gritty pieces of the puzzles and relish when they all come together? You can focus on getting the details right and build a solid path to financial freedom. People. Service to others. We always seem to keep that which doesn't flow through us. When we help others get what they want we work to increase everything. Don't underestimate the power of momentum on your way to financial freedom.
     Network marketing provides many of the benefits of owning your own business. It can be accomplished out of your own home. And, it can also leverage the low cost of the internet. It provides residuals and can be successful no matter which motivation (fun, money, details or people) can help keep your eye on the prize of financial freedom.
     How to succeed in achieving financial freedom? Find a strategy. Get help. Use mentors who are doing what you want to do and tap into this rich resource. Do the work. Action. The best plan is only useful if it is followed and acted upon and not just prepared. Use that slight edge everyday to take one more step on your way to financial freedom.