Paul Clitheroe offers 5 tips to help people achieve financial freedom. If put in place, these 5 steps can help you reach your financial goals faster than you ever thought possible.
Financial freedom is just 5 steps away from achievement. Anyone can achieve financial freedom if they are serious about making it happen. Here are 5 simple, yet important steps from Paul Clitheroe, to help you get things put into place.
5 Steps to financial freedom
1. Make a plan
The only way to truly achieve financial freedom is by formulating a plan. You will need to look at your current financial situation and finalise your goals. If you don’t have a plan, you will have no objectives and goals. This means that you have absolutely no chance to succeed. You will need to get control over your budget with a strong plan.
2. Control your spending habits
Paul says that you need to control your spending, which in fact means that you need to spend less money than what you are earning. If you are spending all the money that you are bringing in then that means that you are left with absolutely nothing left to invest.
3. Make regular investments
Paul states that investing on a regular basis is a very important part of your plan, and can be a part of your financial planning and budgeting. You need to set apart some money on a regular basis is that is meant for investments only.
4. Minimise your taxes
Of course, when you are looking at minimizing your taxes to help you gain financial freedom it must be done legally. You may need to go to an account to get this done, but it may be worth it to find out what extra deductions you are eligible to use. You may be able to take a part of your salary to put into a tax saving plan. You should also watch for any bank fees that you are paying, such as late fees or extra charges, and in particular take a look at your credit card fees and make sure that you are not losing money by incurring too many of them.
5. Reduce your debt
Your personal debt needs to be reduced, and if you can get this done then you will be well on the road to financial freedom. Take a look at your loans and see what kind of interest rates you are paying on them. There may be ways of reducing your rates.
If you follow these simple and logical 5 steps to financial freedom, you will find that you can get out of debt, and have more disposable income while doing so. There is a way out, and all you really need you to do is make a final decision to get there.Back to top