Hey there. Diana here from Strategicfinances.net empowering women to build wealth online. Thanks for taking the time to listen to what I have to say. My intention is to build as much value as I can in a way that you can understand.
Phew! Let’s move on to the last 3 videos in this series on how to achieve financial freedom. In the first video I talked about why we work and our 2 main objectives, which are to support our current lifestyle and our future lifestyle simultaneously. In the 2nd video I talked about our 1st challenge which is inflation when it comes to building wealth and then our 3rd challenge which is debt. The 4th challenge is Big Business and In today’s video I will talk about SOLUTIONS. Starting with the 1st Solution
Financial freedom is not a fad or something that is here today and gone tomorrow. You will FOREVER have to deal with money and play to either win or lose in the money game.
The first solution is to increase your cash flow. This particular information that I’m about to share with you is something I wish I knew when I was working a job. It would have helped me come up with the cash flow needed to achieve my financial goals. Particularly for me I needed to save money for my mini emergency fund.
However you are earning money whether you are an employee, self employed, a business owner or an investor. You need to know how to manage it meaning how to earn more than enough, how to keep as much of your money as possible, then how to multiply and grow your money over and over for generations and generations.
If you don’t know how to effectively manage your money you are likely to lose it all. A business partner and mentor of mine told me about a women that she knew who earned $200,000 in 2 years and is currently broke. She said that she spent the money on purses, clothes, and vacations and it was soon gone. If you don’t have an effective plan of action and proper direction for your money it will forever evade you. Get a plan here.
So the 1st way that you can increase your cash flow is by adjusting your Form W4 at your job. I also talk with a lot of people who are self employed and don’t have a w4 form to fill out. There are ways for you to increase your cash flow as well by minimizing expenses, eliminating debt, and minimizing your taxes. When I got around people who are financially successful I immediately increased my cash flow by minimizing my expenses. I took at look at where my money was going and made adjustments, even without having a w4 form to adjust.
I revisited my auto insurance and my cell phone bill to name a few things to see if I could get a better deal. There’s always a way to minimize your expenses if you’re serious about achieving financial freedom. Now when you have that extra cash flow coming through your household you know what to do with it. Whatever amount extra it is you can use that to build up your mini emergency fund, get out of debt, or start investing to name a few examples.
So to recap you want to increase your cash flow by adjusting your w4, eliminating debt, and minimizing expenses. This information is more powerful than you could ever know, but only if you take action. If any of this information resonated with you and you need help moving forward without overwhelm reach out to me here.