How to Achieve Financial Freedom on Your Own Terms
Saturday, April 1, 2017, 6:00 AM | Leave Comment
Saving money is a large part of achieving financial freedom. If you don’t have a rainy day fund yet, saving money might seem like a daunting task.
Fortunately, you can change your financial situation on your own terms. If you have a budget and a plan, you can start saving and if you are really financially savvy, you may be able to move into the highest tax bracket.
Here are some other ways you can make financial freedom possible.
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Get a Better Job
There is always a demand for technology and health care workers. Most community colleges offer technology and health care degrees and many of the programs can be completed in two years.
Some even have great starting salaries for entry level positions. Check to see if you qualify and if a job change might make you more money in the long run.
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Work from Home
In the 21st century, you can make money without a traditional job. Telecommute to work instead of drive and you might be able to set your own hours.
You can also make money with social media. If you have any specialized skills, you can sell your services online. This might also be a good option for a side job that makes you money.
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Purchase Investment Properties
When you purchase investment properties you can use them to collect rent from two or more tenants.
Your tenants will expect you to pay for maintenance services, but your monthly rent payments should cover your mortgage. Be sure this is an investment you can take care of on your own before diving in.
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Invest in Stocks
You should learn about the stock market in your spare time. There are many free online resources, and you can participate in virtual online stock market games.
When you are confident in your investment skills, you can invest in stocks and have your money make more money.
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Clear Bad Debts
You should always live within your means and avoid unnecessary bills. Debt can lower your credit score. Always pay more than the minimum payment.
When you are applying to colleges, you should also apply for financial assistance. Grants and scholarships will help you avoid large student loans.
Pay down loans you do have and make sure you can pay them back quickly.
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Search for Unclaimed Money
You might have hundreds or thousands of unclaimed dollars you don’t know about.
Learn how to find unclaimed money through a service that finds unclaimed money by person name.
You can add the money to your savings account, or you can spend the money on lucrative investment opportunities.
You can achieve financial freedom on your own terms. In addition to using the methods listed above, save the money you do earn and make sure you are always padding your budget and bank account.
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Eileen O’Shanassy is a freelance writer and blogger based out of Flagstaff, AZ. She writes on a variety of topics and loves to research and write. She enjoys baking, biking, and kayaking. Check out her Twitter @eileenoshanassy.
