column · July 2017
The Mindset of Financial Freedom
The Mindset of Financial Freedom-George Madiou
Yes, Financial Freedom definitely has a mindset.
That mindset runs the gamut of what people perceive to be Financial Freedom. First of all, the obvious is money, it's all about the money, but money has a wide scope in that mindset.
Some people have a mindset that if they could earn an extra $100 a week it would be huge for them and it would take a world of stress off their shoulders. For others, $500 a month would make the difference between bankruptcy and having their nose pop above the proverbial water level.
I've come across networkers who live way beyond their means , that their mindset has to exceed $10,000 a month or even $400,000 a month because they allowed their financial mindset get the best of their optimistic future predictions.
So again, Financial Freedom means so many different things to different people. It goes back to mindset. Where are you at in this thought process? Is it that finances dictate the level of Freedom that you experience, or does your finances only have a little bit to do with your mindset of freedom.
Are we talking about dollars, or are we talking about time freedom? Are we talking about the ability to be with your family, more than you are now , rather than be a stranger in their lives?
Or is it that you just want to obtain a " get out of jail free card" because the position that you're currently in is making you feel as though you're trapped in that proverbial jail?!?
It's probably time for an examination of your present mindset!
I know many people here in the United States that are not making a lot of money from their perspective; but they feel completely free because of their mindset. One of the keys to their freedom is that they don't live above their means. They have a mindset of not being trapped by credit. These people, as I've known them over the years, have lived within their means and have enjoyed the peace that comes from that mindset. As time passed, I've watched my friends earn more money in their career. One of the very interesting things that have taken place is that, because they were debt-free, year after year, as a result of not getting into debt in the first place, they were able to take a portion of their money and invested in a number of different things. Of course in the very beginning they were small things, that were considered assets. These assets were investments that they made as time went on. These investments eventually turned into larger assets. These were mostly passive income assets, where they were able to allow their extra money to work for them.
I don't care if you're 23 or 43 or 63 years old; it's never too late to develop the mindset that produces true peace in your heart
The first thing that you can do at any age is to work on becoming debt-free. As you're paying off debt, put the money that was going toward a debt that you've retired toward the next smallest debt that you have; and keep on doing that until you've retired all of your credit card debt! Next, focus on your car loan and then school loan debt and even the mortgage on your home!
As you're paying off your debt, you'll be able to start making your money work for you. When your money starts working for you, the Financial Freedom that you'll experience will be amazing.
There's a financial advisor by the name of Dave Ramsey that I highly recommend; and again I don't care how old you are, the advice that he gives is extremely solid. My advice is that you start down this road and develop the mindset that nobody is going to control you by your "purse strings." As a result, a "get-out-of-jail card" experience will happen as soon as you start the process of becoming debt-free. Financial Freedom is a mindset. All you have to do is tweak your mindset to be able to take advantage of an extremely peaceful way of living.
In the best life instruction book, of great mindset advice; the Bible,
it says in Proverbs 22 verse 7,
The rich rules over the poor and the borrower is the slave of the lender.
It's never too late to create the best mindset that you could have that will give you peace in your heart and that is...
True Freedom!
The Mindset of Financial Freedom-George Madiou
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