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10 Steps to Financial Freedom: How to Become Financially Worry-Free

Financial security and the independence that goes with it are high on everyone's agenda. In fact, however, precisely these aspects rest on a very shaky foundation for the majority of people: If only the income generated from the job is to maintain this financial security, this is always associated with a high risk. It is all the more important to position yourself broader in good time. These 10 aspects will help you to build a foundation for your financial freedom.

How to become financially worry-free

10 Steps to Financial Freedom: How to Become Financially Worry-Free

Your motivation

Motivation is the beginning of everything. If you are completely satisfied with your professional and financial situation, save enough reserves for special expenses and life in old age, maintain a great work-life balance, have enough time for friends, family and hobbies and you are enthusiastic about your job every day , you hardly need to do anything. However, you will then belong to a fairly manageable group. In fact, most people find plans and goals that can spur financial freedom. What are yours?

Your start date

If the advisor at your bank has its way, the best thing to do is to start building wealth immediately after your birth. In fact, the older you are when you start out in financial freedom, the more difficult it is. But even at 40 or 50, it's not too late. So there is no reason to resign. But there are many reasons to get started today.

Stay willing to learn and inquisitive!

Knowledge is power, ignorance doesn't matter either? Forget it! Knowledge and willingness to learn are the essential foundations of any success. Even if you are only studying for a new hobby, it will keep you mentally fit and will also help you with your career and financial planning.

Make a decision!

Anyone who hesitates has never made progress. So learn to make decisions and to stand by them. The objectively correct decisions will not always be made. But then you will learn from them. If you always hesitate, you will not get any further.

Pay attention to your surroundings!

In your personal environment there are people of every age group and probably with very different financial backgrounds. So analyze what the respective reasons for success and failure are. Poverty or wealth can also be inherited, but in many cases both are homemade.

Have the courage to be healthy egoism!

You yourself have priority! So always take care of your most important needs and investments first and only then about open bills. Of course, these liabilities must not become long-term debt.

Didn't hoard money under the mattress!

Inflation may be low, but hoarded money will permanently lose value. So it is always better to invest the money. There are many ways to do this, even in times of low savings rates. Good investment advice costs money, but the bottom line is that it will still pay off.

Get your hands off consumer credit!

As tempting as it may be to buy the new car, the big screen TV or the summer vacation on credit: keep your hands off such consumer loans! Always only buy what you can finance with the money you have. If necessary, you can opt for a used car, continue to live with the small television set and spend your summer vacation at the quarry pond.

Find out about the successes of other investors!

Of course, it is unlikely that you will have a career like George Soros as an investor. Nevertheless, it is interesting to find out about its successes. A few floors below you will find a large number of successful investors who can be great role models for your own strategy.

Pass on ‘some of your success to others!

Isn't it great to be able to act as a patron and advisor for other people and to receive a lot of recognition for it? Of course there are also many rich people who, like Scrooge McDuck, are sitting on a mountain of money and are not interested in their surroundings. With advice and action and maybe even money, you can do your part in the success of others and advance society as a whole.