` MoneyMindz.com India's First Free Online Financial Advice, on-call Financial Advisory , Best Insurance Advisory

5 Steps you should tale to gain financial Freedom on this Aug !

Talk of freedom and independence is in the air this month. Two words that mean something different to young India than they meant to the founders of our nation.

Would Independence Day just be a long weekend for you? Or do you plan to do something that contributes to your independence in a real way?

As India celebrates its 70th Independence Day, most people would be looking forward to it as a temporary respite from normal routine, office work and everything that they hate about their daily lives.

But Independence Day is just a 1-day holiday.

Wouldn’t it be nice to have a permanent holiday? Not having to worry about how to pay bills, pay for partner’s shopping, saving money for future goals like children’s education, etc.?
Here’re a couple of ideas from us:

Freedom from worry about what to do about money in emergencies, for example, a job loss
What will this freedom look like?

Have money equal to 6 months of expenses set aside.

Here are the 5 steps you should take to gain Financial Freedom on this Aug

1. Talk to your spouse

Most couples never talk to each other about their financial goals. If you’re in a relationship, before you roll up your sleeves and dig into the numbers, talk to your spouse about what you want to accomplish. “Have a brief discussion about objectives, morals, and what kind of lifestyle you want,” says Mohammed Haseeb z, CEO of Moneymindz.com, India First Free Online Financial Advisory Portal.

2. Have a ‘Real’ Goal

Having a real goal is very important. The reason for this is that unless you know your destination, you will never know what route to take, how much fuel to put in car’s tank, how frequently you need to stop for checkups, etc. In this case, you should have a goal like ‘being financially independent by the age of 45’.

3. Manage the Risk Triangle

While you are on your way to financial freedom, you don’t want anything to upset your plans or put your family in trouble. Isn’t it? So you need to put financial fortifications in places. And it is extremely easy to do.

• Slowly build an emergency fund (how?)
• Take adequate health insurance cover for yourself and your family
• Purchase a large life insurance cover
Having these 3 things in place will give you mental freedom from fear of unforeseen circumstances. And that is an important aspect of achieving financial independence.

4. Track your spending

The key to building a strong financial plan for the future is to understand how much you spend and save right now. This is called tracking your cash flow, and it can give you a sense of control and confidence that makes it easier to make financial changes in your life.
Personally, I’ve kept a small journal tracking my spending for years because it helps me modify my behavior if my spending gets out of control. It’s not always easy, but it works.

5. Achieve Zero Debt

Most Dreams of Financial independence have been killed by the overdose of loans than anything else.
You cannot attained financial Freedom in your life unless you achieve zero debt. Plain and Simple.
Now all this may sound over-whelming at first. But it’s not that difficult once you think about it carefully.

It only requires you to make small changes. As we say “Simplicity changes behavior”
So keep your action plan plain and simple.

Like as simple as – ‘When I pour my morning coffee, I will wipe the counter.’

So your action plan can be – ‘When I get my pay cheque, I will automatically invest 20% towards my financial freedom.’

Sounds workable?

If not 20%, start with 10%.

If 10% is tough, start with 5%

Free Financial Advice on Financial Freedom by Certified Financial Planners Press Below Button


For More Information:

*Are you Looking For Free Financial Advice*

*Fill The Form Our CERTIFIED FINANCIAL PLANNER Will Call You Freely*

Give Us a Missed Call On 022 – 62116588

(Or) Download Our MoneyMindz -Expert Seller APP

(Or) Visit: https://www.moneymindz.com/

(Or) Download Our MoneyMindz-Financial Freedom APP

Your email address will not be published. Required fields are marked *