There is no special skills needed. It’s just a process that you can follow.

So how do you achieve financial freedom?

On this article I am just going to talk about the first step.  This is probably the most important step. If we can’t get this one right then it is hard to get the others done also!

There is a great book called “The Richest Man in Babylon” by George Classon.  In this book George says that you have to “pay yourself first”.  What does that mean?

Well simply, when you get paid or make some money take 10% of that amount and put it away. Save it and don’t spend it.  Simple?  Easy?

Try it.  You have to get some discipline to achieve this.  This is your store of money to build financial freedom.

This is the way to create financial freedom

When you do this it changes the way you manage your money.  You begin to develop a habit that looks after you first.  At first this might be difficult to achieve but once you have done it for a few months you will be able to live off the remaining money.  It trains you to live while saving.

Overtime you can start to save more.

I know this looks like a very simple thing to do.  And really it is.  But it’s also incredibly powerful.  Once you do this you will know that you can change you financial situation.  You will know that you are in the driving seat and that money does not control your life.

Start today

If you want to become financial free then start today.  Open up a savings account and start to put ten percent of your money away.  Perhaps you can set up an agreement that the money goes into your account as soon as you get paid.  That way you won’t even have to think about doing it!

Think about how much you could have saved over the years.

If you really want to speed up the process of achieving financial freedom then this Brian Tracy course might be want you are looking for.

His course The Unbreakable Laws of Money can help.

You can get financial freedom….

To your success

Matt

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2. An easy way to get more customers for your small business
3. Top 10 2009 Financial Resolutions: Get Debt Free in 2009

BDIL – Business Debt Investment LifeStyle…How to find Financial Freedom

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1. Financial Freedom – What to do first
2. Top 10 2009 Financial Resolutions: Get Debt Free in 2009

Get Debt Free

What do I owe right now?

The first step is to work out who you owe and how much!  I know that sounds boring and too simple but it really is the key to clearing debt.  You can start with your Credit Report, which lists your credit accounts, from loans, cards and mortgages to utilities, mobile phone contracts and catalogue accounts. Not only will it show your credit history but the amounts you owe, court judgements, IVA’s and other information lenders use when calculating your credit history. There’s also a useful list of your lenders, which can act as a quick reminder of accounts you might forget.

You can get a totally FREE Credit Report here from Experian  – Free Credit Report

2. List, List, List

This doesn’t have to be a long list, just who you owe and how much.  If you use your Credit Report when doing this you will get a very accurate list of what you need to pay back.

3. Do some filing!

Organise all your bank statements, credit cards and utility bills into monthly files. Check your direct debits carefully and cancel any that should have expired or set up new ones to ensure you don’t miss any payments – some organisations offer a discount if you do this. Set up another file for your day-to-day spending, such as receipts for food, newspapers, petrol and fares. Make sure you arrange everything so you can see where your money is going in regular payments each month.

4.Budget – Set one!

If we are all very open and frank with ourselfs then I thin most would agree there are some areas we could cut back on.  Personally I know I have some outgoings right now that I just really don’t need! This “spare” money can often go towards paying some debt back.  Make sure your budget is realistic, or you’re setting yourself up for a depressing failure – and always leave some money aside for treats and emergencies, or you risk falling off the financial wagon through sheer frustration or because of bad luck.

5. Be Thrifty

The internet is a great place to find bargains or just get some good price comparisons.  All those little savings do add up BUT beware!  Don’t by cheap for the lack of quality.  Often “cheap” items can be the most expensive!  You could also join an online service such as www.freecycle.org, where people offer to give away unwanted items. Or hook up with one of the many local networks that enable people to swap their skills – you can exchange anything from babysitting and cooking to carpentry and accountancy skills without paying a penny.

6. Get a good report

Lenders look at your credit report when you apply to them, so it’s crucial that it’s up to date and accurately reflects your circumstances. One administrative error or a misunderstanding several years ago could spoil your chances of getting the credit you want in future. If you disagree with any entries, contact the lender and be prepared to prove your point. You can also get in touch with the credit reference agency that keeps your credit report – Experian is the UK’s largest. Other tips include closing unused accounts and registering to vote at your current address.

7. Be a detective – Research

The are still good credit options on offer and it’s up to you to find them. It’s worth spending some time on personal finance websites and reading the personal finance sections of the papers to get an idea of what’s available. Ask the lenders or suppliers for quotes before you apply, as every application leaves a record on your credit report – if there are a lot in just a few months, lenders may think you’re desperate or even suspect a fraud.

8. Take on the big debt first

Knowing what debt to take on and when is not easy.   There are lots of finanacial formulas to work this out by the easiet way I have found is to go for the biggest and most demanding first.  Workout which one is the biggest, then the next and so on.  Then split your payments in proportion to this.  Remember BDIL! (If you don’t know what that is check out my post on it here)

9. Ask for help

Please don’t hesitate if you are in financial trouble or simply just don’t know where to turn, there is loads of help out there is you just ask.   I think the biggest mistake I made was waiting way too long before I reached out to ask for help.  The months of worrying and keeping it to myself really cuased me some health challenges and my financial situation just got worse!

The website of the Financial Services Authority, www.fsa.gov.uk, is a good starting point, offering simple advice and a range of calculators. Mortgage brokers and your own bank can help you to decide on suitable deals and may come up with ideas you hadn’t considered. If you’re having real money problems, a number of organisations offer free advice – try Citizens Advice at www.citizensadvice.org.uk, the Consumer Credit Counselling Service (CCCS) at www.cccs.co.uk or National Debtline at www.nationaldebtline.co.uk.

I really hope that helps and I REALLY hope if you are having financial difficulty that you take some action and make a step towards getting yourself out of it.  Please rememeber it is NEVER as bad as you think and there is ALWAYS and answer….I know because I really didn’t see a way out but there was!

You can get a totally FREE Credit Report here from Experian  – Free Credit Report

To your success!

Matt

http://www.lifeturnaroundnow.com

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Who Are the Millionaires?
By: Brian Tracy

The way you think about money will determine how much of it you accumulate more than any other factor. Your attitude toward money affects your emotions and your motivations.

The Five Ways to Become A Millionaire
If you are really serious about becoming wealthy, you will want to know the five main ways that fortunes are made in this country. Number one, top of the list, top of the hit parade throughout the history of America, is self-owned businesses. It is entrepreneurship of all kinds, including in real estate. 74% of self-made millionaires in America, not only in this generation and in this century, but in the last century as well, come from self owned businesses.

How Wealthy People Start Out
The great majority of wealthy people started businesses and built them from the ground up. In the 19th century, fortunes were built by people like Andrew Carnegie, Jacob van Astor, Thomas Edison, Commodore Vanderbilt, J. P. Morgan and others. In the 20th century, especially in the last few years, businesses and fortunes alike have been built by people like Bill Gates, Steve Case, Larry Ellison, Ross Perot and Sam Walton. Each of these people started with nothing and built a business from scratch.

Become a Millionaire Where You Are
The second major source of self-made millionaires in America is senior executives. Ten percent of the self-made millionaires in America are men and women who have joined large corporations and worked with those corporations for many years. They rose to positions of seniority, were paid extremely well, given stock options, profit sharing and bonuses, and as a result of holding onto the money, they became millionaires.

Success Pays Big Rewards
Richard Eisner of Disney Corporation received a $126 million dollar bonus in a single year. Lee Iacoca of Chrysler Corporation was paid $26.7 million dollars as a bonus in a single year. It’s not hard to become a self-made millionaire when you are making that kind of money.

The Professional Road to Wealth
The third source of self-made millionaires in America is doctors, lawyers and other professionals. Men and women who become very, very good at what they do and rise to the top of their professions are eventually paid, very, very well. The top five percent in every field earn 10 and 20 times as much as the average person in that field.

Sell Your Way to the Top
The fourth major source of self-made millionaires in America is salespeople and sales consultants. Fully five percent of self-made millionaires are men and women who are the top salespeople in their fields. They never started their own businesses. They never went to college or university to get professional degrees. They just became very good salespeople for their products or services and were paid very good money. The secret was that they then invested the money conservatively and held on to it. 99% of self-made millionaires come from these four categories: self-owned businesses — 74%; senior executive positions — 10%: doctors, lawyers and other professionals — 10%; and salespeople and sales consultants — 5%.

Other Ways to Get Rich
The final one percent of self-made millionaires is made up of all the people in all other areas. This one percent consists of people who have made their money by inventions, in show business, in sports, through authorship of books and songs, lottery winners and inheritances. But these people make up only one percent of the total.

The bottom line is that there are so many ways for you to become a self-made millionaire that it is almost impossible for you not to achieve this goal if you are really serious about it.

Action Exercises
Here are two things you can do to put this information into action as soon as possible:
First, decide what it is that you really enjoy doing and then throw your whole heart into doing it extremely well. There is a direct relationship between excellent performance and the kind of high income that leads to financial independence.

Second, be perfectly honest with yourself on an ongoing basis. Is what you are doing right now going to lead you to financial independence, or do you have to begin making some serious changes in your work and in your life? Whatever your answer, take action on it immediately.

Related posts:

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2. Brian Tracy – How You Can Start, Build, Manage or Turn Around Any Business Home Study Course
3. Brian Tracy How to Talk: Secrets of the Great Communicators

Matt says -Fun, good read and has some great insight.  Certainly not a deep book but good fun all the same.

To sum up –Light-hearted but has some great information in it

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