In the last blog, we learned what you needed to focus on first on your road to financial freedom. No matter where you are in life, you should try to increase your value in the workplace.
You do that by learning and acquiring new skills. By becoming versatile, you become essential in the workplace.
You need to position yourself so that you hold the big end of the stick. That’s how you’ll be able to earn a lot more money.
Your second step after you’ve achieved that is to start saving. You need to live below your means so you can save at least 20-30% of your net earnings. I know it might seem like a lot but you need to find a way to do it. Otherwise, you’ll always be chasing your tail.
The temptation is high to try to impress other people with nice clothes and a nice car when you’re a young person. But those are choices that will set you back and that you’ll regret later on in life because they’ll put you behind the 8-ball.
Unless you invent a product that everybody wants, you inherit money, or something else, you’re going to have to use the formula I mentioned in the last blog to achieve financial freedom. I repeat, it is pretty simple. You need to increase your value in the workplace, save a good chunk of your net earnings, and invest whatever you were able to save.
It sounds simple but a lot of people don’t take the time to sit down and really think about it. You need to develop your game plan. It won’t magically happen. You’re going to have to write down how you’re going to increase your value, what amount of money you’re going to save, and where you are going to invest your money.
It is literally a game and you need to learn to play it right!