Do these 5 things to achieve financial freedom quickly
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Financial Freedom isn’t for everyone. It requires patience, willingness, dedication, and a lot of self-awareness.
Here are the 5 things you need to do if you want to shorten the timeline of your financial freedom journey.
Reading
Reading is for the brain what exercise is for the body. Reading improves focus. It improves concentration. In a world where our attention span is reduced to seconds, reading helps in improving it and thus letting us focus in a better way
Save before you spend and then save after you spend
You must have read this but this is different — read on
Saving a part of your income before spending — doesn't suit everybody.
Instead, do this — save 5–10% or whatever minimum you can of your income before spending
Then, try to cut down the expenses as much as possible. Now save whatever is left along with the cuts from your expenses. Live frugally. 🍁
Minimalism
This is very important — do not let anything sit at your home which you haven’t used in the past 12 months or what you don’t plan to use in the next 24 months.
Sell them. Rent them. Do anything but don’t let it sit.
Do not do impulsive buying — and follow a 10 minutes rule before making any purchases — ask yourself — do you really need that item? How will it improve your life — what are the use cases? — what if you don’t buy it? — what are the reasons you are thinking of buying it?
Evaluate the reasons rationally for any purchases.
Investing
Investing is something that a 10-year-old should also do. You don’t even need to learn anything. No need to read the Wall Street Journals. No need to spend 1000 hours to learn or read about multiple companies. Nothing is needed.
Solution: Index Funds
Why Index Funds?
Here’s NASDAQ
This is Nifty50
This is S&P500
Did you see it? It’s always profitable in the long run. You don’t even need a second opinion.
Just invest in a low expense ratio Index fund. Especially global index funds. Nowadays you can easily invest globally using apps like Vested from India
Or you can directly invest in Zerodha Coin
And the last one:
