- Personal Finance
The beginning of financial freedom
it begins with you
Money; it is a popular topic, one that many people talk about and one that many people have many ideas about.
It is common knowledge that we live in an era of financial hardship, and that there is a very distinct line that separates the haves from the have nots, and then there are the very few that live somewhere in the middle.
Those of us who live in North America built a certain lifestyle over the past several decades, we got used to living comfortably on credit. We built our lives on borrowing, never giving a second thought to the future. Most of us never thought that things would take a turn for the worse...but they have. Now we are stuck with debt, bills and the cost of living increasing while our income stays the same or decreases.
One of the big problems is that we are continually bombarded by the media of products they want us to buy.
Big business and huge corporations don't care about you, they only care about your money. To be quite honest, I was quite shocked as to how many iphone 5's were sold within the first weekend of its release.
When we live in a time of financial hardships, I have to ask, “How can people or why do people spend their money foolishly?”
The same goes for buying other electronics, gadgets, vehicles etc. If what you have works, then why replace it with a new thing? If you really do not need it, then why buy it?
Why do people not just take the money that they would spend on the item that they do not need and instead put it on their credit card to pay it down, or on other bills, or just put it into savings? Would this not make more sense?
If you want to get through this financially difficult time, then you need to get your spending under control. Learn to say “NO” to yourself.
One of the biggest, most terrible things is the credit card, this piece of plastic is like a chain that holds you in bondage, it enslaves you.
Stop using the credit cards and pay them off, even if it takes several years, it is the beginning of freedom. The more money you put on it, the lower your interest becomes and the faster you can pay it off. Why put money into the pockets of the bank ceo's instead of your own? It is YOUR money, don't give it to them, they have more than you do already. The other things you can do is to stop buying what you don't need, cut back on cable channels, or satellite channels. Also, walk instead of using fuel to drive your vehicle--when you can walk. (or car-pool)
Buying tickets for concerts, movies, sports games etc are not a necessity, they are expensive and not worth the money wasted to go. You know that many actors, musicians, sports players have millions in the bank, why give them more?
Eating out at restaurants instead of cooking your meals at home is also a waste of money. It is definitely more cost effective to always cook your own meals, and to make a lunch and take it with you instead buying from a restaurant or cafeteria.
Turning down heat and air conditioning when you are not home is important as is turning off lights and electronics when not in use or needed. This will save you a lot of money as well.
People need to learn self discipline and then stick with it. Do not be swayed by fancy ads or commercials.
Make a list of things you need to do to accomplish your financial freedom, post it in a place where you will see it regularly, then read it, memorize it and push through. You will see a difference in your life and finances.
last thing, politicians will tell you to keep spending, "It stimulates the economy", they say. But what they don't tell you is that it also hurts you and lines the pockets of the wealthiest 1%. There is a problem when even during recessions, the banks and large corporations, oil and gas companies, pharmaceuticals etc make billions of dollars a year and the CEO's give themselves huge bonuses on-top of their already large paycheques...the whole while you suffer.