- Personal Finance»
- Income & Making Money
Steps To Get Started On The Road To Financial Freedom
I have personally read this book and has worked wonders, I recommend it to everyone!
My Blueprint For You!
I want to be very clear before I begin this article that I am not a financial adviser, nor do I work in the financial field. I like to consider myself an entrepreneur that has a love for helping people achieve success. I have a strong background in health and I have proven to myself that I am a successful investor. This article includes steps on how I got started on my path to becoming successful and I am sharing this and helping everyone I know achieve success. So thank you for your time and I hope I make an impact in your lives!
There is a common occurrence with all humans. The need for money to survive this day in age. The competition to strive and prosper in the kind of world we live in today some people say is extremely hard to do, I do not agree. I will give my blueprint to prospering throughout this article, although I will only give you the different avenues with little detail. It is up to the individual as to how successful they want to be, because it takes a lot of hard work. I do not want to give you fish, I would rather teach you to fish.
Success is looked at differently by all people. To some it may be wealth, accomplishments, health, or even freedom of time. I like to think that success is a combination of all of these elements and even more. You cannot have wealth without accomplishments, (at least most of the time), and you cannot enjoy the freedom of time without wealth and being healthy. All of these things go hand in hand when we think about a person becoming successful.
A lot of people put in a whole lot of time to make a little bit of money, they are a slave to the dollar. This is a terrible idea to live by and should really be the other way around. The way that society has gravitated towards makes everyone feel that it is okay to work 40 or more hours a week to make a living, that leaves you with very little time to do the things that you enjoy in life. Life is already too short as it is so lets make the most of it!
Most of the people that are asked why they are not financially independent normally have these answers; "I don't have enough time, I don't have the money to start my own business, or I don't even know where to begin." If you are one of these people, after reading this you will know exactly where to start, with exactly no money, and where to find the time to become successful.
Here is my short blueprint to get on your way to making passive income.
- The first step to becoming financially independent is staying at your day job. Many people get pumped up and excited to start making a lot of money online or starting their own business, only to have it fail because they gave up the secure reliable income that was coming in each week. This is going to be the hardest part of becoming free from the dollar, but it is well worth it in the long run. You will have to work a lot harder and longer then most people are right now, but that is why everyone is not financially independent. Sacrifices will have to be made now so that you can have the life not many people work to have. So whatever you do keep your day job, you may have to get creative and find time to start your new endeavors, but you can do it!
- While you are working at your day job there are many avenues to creating wealth that take little time to begin. I personally began on here, hubpages, and it is by far the easiest place to start building your wealth. I am not promoting hubpages at all, I just want to be honest and let everyone know where I have come from as far as my resources for making money. Hubpages is a website that allows people to write articles for people to read while making money with the ads that are placed on your articles. This way is not a get rich quick scheme but that is not how financial freedom is attained anyways. The idea is to write good quality articles and over time build the collection to have revenue from each article posted. The more popular the articles get, the more money you make, and it is completely passive. This allows you the freedom from another job, yet the income that would could be bringing in from one. Hubpages is very user friendly and will show you step by step how to use the site and how to earn your money.
- There are many other avenues that you can dabble in from here, personally I started a blog. That allows me to write once and publish it twice in a very similar way. There is a lot of material out there on how to monetize your blog and get it noticed on google. I would also love to help with any questions that you may have and will provide a link to my blog at the end of this article to assist anyone I can in any way. Hubpages allows you to use the content on multiple sites, unlike other sites that allow you to write articles. So in a way you are double dipping with your income, which is great! And let me remind you that Hubpages is free to join and start publishing articles, a blog can also be free if blogger is used, or can cost very little. There are a lot of other ways other than ads to make money blogging which I will go more in depth in on other articles and on my blog. At this point you should have 2 small trickles of income coming in until it builds more into a flow, which will take some time.
- The third avenue of income, assuming you have written quite a few articles over certain subjects is to turn that material into and e-book. This may seem really confusing and hard to do but it is really simple, and again there is no money that is needed up front, unless you pay someone to make you an e-book cover, which costs less than 20 dollars normally. Now you have a link to sell your e-book on amazon that you can edit into your articles and also post on your blog site. Assuming you have some followers, you should now have 3 trickles of income each month. Which again should turn into streams before you know it.
You should have three small streams of income now flowing into your account each month, and at first it may not seem like much but if you could do one to two articles a day to publish, just think of how much content you could have on your blog and be able to publish on amazon. These first three steps require a lot of patience, because it will take some time to get noticed and recognition. As this income starts to build you want to be very sure that you do not spend that money on yourself, it needs to be re-invested into the next avenue that will make you even more money and so on. It is a lot easier to make a whole lot of money faster when it compounds (snowballs) from the revenue that has been re-invested.
Investing in real estate
- I personally love investing in real-estate, it is the one thing that will guarantee you a return on your investment, if you do it right. The first house that I flipped brought me in $45,000.00. I did some easy work on my own and subcontracted the rest of the work out. There is a lot of ways to pursue real estate such as, flipping, buy and hold, renting, subleasing, and many more that I will not go into detail about. I will get into much more detail on my blog about the different avenues in the real estate sector. It does not take a rocket scientist to invest in real estate, only people who are determined and have some common sense. This avenue for income is not 100% passive and does require some time but is well worth the investment.
Normally an investment home that will not be the purchaser’s primary residence has different guidelines for purchasing compared to a mortgage for a personal loan. A personal loan which is normally an FHA or Conventional loan, needs very little money down and gives a lot better interest rates than a loan given to someone for an investment property. There is a lot of detail that goes into how much is exactly needed but if you are coming up with the money on your own, at least 10% down is required, although there may be creative ways around that. So long story short you will need around 10% of the purchase price of the property, then you will start to see very large gains each month, and you are one step closer to financial freedom!
Many people will try certain things to make money such as flipping stuff on ebay or craigslist, or even MLM (multi level marketing) companies. I personally do not recommend either of these because they absorb too much of your time with little income unless you get lucky and hit it big, which happens a very small portion of the time.
I have hopefully put together a blueprint to get you started on the path to financial freedom. Just like I said before, this path to creating financial freedom will take patience, but it will pay off. Work like crazy right now to build a foundation of passive income and it will snowball later to pay you well, it will take hard work so be ready! Thank you for your time and I hope to help as many people as I can achieve success asap, because life is already too short as it is.