Financial freedom

Financial freedom

financial freedom 

Financial freedom

When you think about financial freedom you feel so good but if you want to be financial freeman then you have make plans and execute them as soon as possible.

I will give the 3 amazing tips to become financially free

Convert your time into money  

We feel good when we listen this kind of concepts I will show you how it works.

If you are a salaried person and your income is not enough for you and your family if you are earning 20,000 rupees per month and your expenses are crossing 15000 thousand per month and you save every month minimum 3000 to 4000 rupees.

In that case, I don’t think so will get financial freedom in your whole life.

Here my suggestion to you if you have any skill then you can earn extra income if you do work for 2 to 3 hours every day and if you don’t have a skill they learn money making skills.

every day you came to home 9 pm then you need to do something online at least 1 to 3 hours daily start with one hour,  start your work online which make money for you whatever it can be online work you can do marketing, blogging, eCommerce store it could be anything.

If you will earn a minimum of 2 to 3 thousand per month by working in your free hours then it will give you an opportunity to save money because now you are savings double and you will invest double then last time.

Here you are working as a freelancer, you are converting your time into money

Convert your money into time 

 

If you have money then you need to buy the time I will show you how it works.

If you are working job and you have a side business as well I mean part-time business in that condition you don’t have time for any other thing.

Example

If you are giving your 3 to 4 hours for your side business and you earn from them 2 thousand rupees daily here you can give your work to someone else who wants to do side business to earn more you can pay him 80% of your total work evaluation you save 20% without working anything and the biggest thing which you buy is that your time.

Now you can do those things in these 3 hours which gives you more money as compared to your last work.

Active income and passive income

You need active income in starting because passive income takes time to come in your pocket. I will tell in short what is active income and passive income.

In Active income when you sell your time then you will earn money for example; your job is active if you will present in your office then you will earn your salary.

 

In simple words when you involved in any work physically and you earn money that income called active income.

In Passive the income you will earn money while you are not working or you are sleeping that income called passive income.

Active income

If you want to live financially free life then you have to make passive income and for passive income you need first capital which you can make by your job or any freelancing job or any business like shops where you need to involved physically.

Many the businessman who made a lot of many every month they think they are financially free but that's not true because they need to work every day like they have to visit their shop and open their office if they don’t go someday the office that day they face the loss of money.

For example ; doctors, lawyers  they have to visit their office regularly

Then how they could call them self financially free.

    

Passive income

If you want to generate passive income then you have started with active income because first you need capital and it might come from your job or any freelancing work.  

Passive income is not easy to earn because we have to do hard work in starting.

 You can generate your Passive income from real estate suppose you buy ant land of property you build it and give it on rent you will earn money every month without working anything but nowadays it is not a good option because now properties rates are so high.

You can generate passive income from your investment suppose you invested in the stock market and now you are getting returns and dividends money without working.

Third passive income source you can make by online side business like any blog and websites which you started earlier and you are getting traffic and revenue from your blog or websites and your product are selling automatically which you listed.

Financial planning

Financial planning is very important for every person doesn't matter if you are upper class or middle class or lower class if you don’t do financial planning then I don’t think so you can become financial free.

Suppose if you have 30,000,0.00  rupees and if you don’t plan about your money for you just use it for your expenses like you will buy big car expensive clothes and many other things.

You will be definitely lose your money and become poor more than last year  

Your financial planning depends on your monthly active income source and how many you have the passive income I mean how much is your net monthly income.

How much are your monthly expenses and the difference between your net income and monthly expenses that difference called your savings.

Now check your savings are positive or negative if it is negative then try to make it positive or if it is positive then check how much positive it?

If you are saving 3 to 4 thousand or maybe 5 thousand rupees per month then it is not enough now  because if you invest 5 thousand per month for 20 years then you will get something if market looking good.

You have to start working for passive income, something is tough that’s why passive income takes time to come in your pocket.

Start work on your skills and learn those skills also which you don’t know because without money-making skills you can't earn money online. 

learn 5 best money making skills click here