Why You’re Never Too Old To Start Working Towards Financial Freedom

Working towards financial freedom is something anyone can decide to do at any time. Your approach may need to change slightly, depending on how much time you have, but it’s a good goal to have for most people.

Financial freedom allows you to spend your limited time on this earth however you like, without worrying about money. You won’t even need to be a millionaire, like many people believe. You simply need enough money to cover your bills and essentials, and then you’ll need money for whatever it is you want to do – travel? Eat out? Spend a ton of time at the cinema? The world is your oyster! As long as you have a dream, you can come up with a way to achieve it.

 

Let’s talk about what you’ll need to do if you want to start working towards financial freedom:

 

Know Why You Want Financial Freedom

 

The first thing you need to know is why you want financial freedom. The stronger your why is, the better and more likely you will be to stick to it. Your why needs to resonate with you on a deep level, or you won’t stick to your plan.

 

Come Up With A Budget

 

Next, come up with a budget so you can begin working towards your financial goals. Make sure you’re smart about what you allocate to the essentials, and find ways to cut back on your outgoings if you can. You don’t have to live without spending any money on fun stuff at all, but you should be smart and make sure you’re not sacrificing a comfortable future for material items now.

 

Make Your Savings Automatic

 

When you make your savings automatic, you don’t have to think about them at all. You can treat them just like any other bill, safe in the knowledge that the money is building up steadily.

 

Make Your Investments Automatic

 

As well as making your savings automatic, make your investments automatic. Investments are one of the most important parts of reaching financial freedom, as it allows you to build wealth in the future and make the most of compound interest. You can look into stocks and shares, as well as cryptocurrencies and similar investment options.

Staking is the act of locking cryptocurrencies to receive rewards and could also help you to get closer to where you want to be. In some cases, you can even download apps that will invest automatically for you when you spend money – they will take your spare change and invest it, so you don’t have to think about a thing.

 

Work On Yourself

 

The more you know, the better. Work on yourself and make yourself more employable. Better yet, learn about creating content to make money online, and other effective income streams. Keep on learning no matter what!

 

Improve Your Relationship With Money

 

A healthy relationship with money is key. It’ll help you to get into a financial growth mindset, smash your limiting beliefs, and get to where you want to be much faster.

 

 

Find great subscriber-only accounting video and blog content on my Patreon page. Get your questions answered to pass the CPA exam, and to learn accounting concepts.

 

Go to Accounting Accidentally for 300+ blog posts and 450+ You Tube videos on accounting and finance:

 

Good luck!

Ken Boyd

Author: Cost Accounting for Dummies, Accounting All-In-One for Dummies, The CPA Exam for Dummies and 1,001 Accounting Questions for Dummies

(email) ken@stltest.net

(website and blog) https://www.accountingaccidentally.com/