1.First, know what you would want to achieve. Is it finally paying off your 'walletful' of credit cards? Or is it putting up your very first savings account? Could it be purchasing your dream house? Or maybe going on your long-planned vacation? All of these purposes point to one thing--controlling your finances. But whatever your goal is, it is necessary that you specify to yourself what you would like to attain.
2.The next step is to put your goal in writing. There have been scientific studies which proved that those who wrote down their purposes had a more successful rate of achieving their goals as compared to those who did not. Putting a goal into writing makes you remember better as compared to just thinking about your goal. Writing it down is like creating a map for yourself. Remember that those without maps tend to get lost!
3.Third, make a time table wherein you would plot the 'goal attainment' schedules. Is your goal short-term or long-term? Long-term goals could be setting up a retirement plan, pursuing your education while paying for it, or purchasing your very first home. The more short ones could be controlling yourself from impulsive buying, creating a savings account, or buying necessary clothes.
4.Ascertain that no other target is affected by setting up your new financial goal. For instance, purchasing a new luxury car cannot be your plan when you are currently paying for your home (this simply means that you have to live within your means and within your limits). Do only what is possible.
5.To be able to set financial affairs in order, a budget is imperative. Whatever you have planned, whether procurement of home or saving some money each paycheck, it is important to know that you have to work on a budget. No person has ever achieved anything financially unless he has learned to budget his assets.
6.To be able to make a 'master of money' out of yourself, you need to have discipline. Only through rigid discipline and commitment would you be able to master your finances.
7.Also, know the power of your money. Having thousands of revenue does not solve any problem. You can have much less yet be more financially stable than a person who earns five times more. It's all about knowing what your money can purchase and what these 'necessary' purchases should be. Do not spend on anything that you don't need.
8.Know what, for you, is enough. It is not good to write that you want to become rich. What is the gauge for being rich anyway? Your financial goal should be as specific as possible. For example, write: I will have $5,000 of savings by the next quarter. Start small then improve from there.
Financial freedom means receiving your paycheck and being able to buy your needs (and some wants if there is extra) while being liberated from debt. This is not impossible. Everything boils down into one aspect--and that is master yourself and all other aspects in would life succumb to you.
Now that you know these basic tips, carry on full of passion and desire for your life's dreams that being debt free can manifest within you. To ensure this becomes a reality and to discover a life of true financial freedom, follow the link in the resource box below.
Article Source: https://www.bharatbhasha.com
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Article Added on Tuesday, February 26, 2008
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