What is cash flow in relation to your personal finances? This is the first of two articles, the next being on how to fix cash flow issues. Take a listen to the Cape Talk Radio interview about this post on…
Category: Financial Freedom
Financial freedom isn’t just about being rich. That’s one aspect but there’s so much more which simply relates to your mindset and outlook on life. Financial freedom is about having more options in life and less stress and worry about money.
Some strategies to follow to ensure financial freedom include:
Understanding the importance of cash flow and making sure that you not only survive month to month, but that you have excess at the end of the month.
Set up an emergency fund to help smooth things over when life throws curve balls at you.
Create a financial plan and keep track of your progress. You’re allowed to change it as life changes.
Make smart investments. Get a retirement savings in place, take out Unit Trusts or buy ETFs. Invest for the long run!
And finally, create passive income streams. These could be from rental properties, side-hustles or businesses that you start. It’s not easy creating a stable passive income stream but once you have it, wow, it makes a difference!
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Set a short-term goal
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The start of Take Charge of Your Money
As I strive for financial freedom I decided to start blogging to show others how to take charge of your money and understand your relationship with money.