The year 2018 is in the past and you might be unhappy you didn’t attain the financial freedom you planned. Don’t worry. You have a second chance in 2019.

To be successful in your aspirations this year, decide what financial freedom means to you. It could mean getting out of debt or having enough money to retire early. Here are four ways to achieve financial freedom in 2019.

Save a Percentage of Your Salary

Saving gives you the discipline to keep working towards your goals. So, how do you save money?

First, begin with dedicating a percentage of your salary to your savings. You can start with 10% or 5% if you have a lot of expenses and debt.

Build up emergency savings or contingency funds. With that, you have a safety net to fall back on during emergencies. After that, save towards other plans you have. Always put your savings before any expenses. Transfer the money to a savings account you don’t use.

Start a Business

What if your salary is not enough to save anything substantial? The best option is to create an additional source of income. With little or no money you can start a business online, like selling on eBay or affiliate marketing.

Choose an active or passive income as your second source. Active income means you’re exchanging time for money. With passive income, you can make money even when you’re asleep. To help your business grow, engage in effective marketing and capturing customer loyalty. With that, you can make more profit and be one step closer to financial freedom.

Pay Off Outstanding Debt

There’s nothing as painful as a debt that increases with interest and takes a chunk of your income. Dedicate a percentage of your income to paying off debt, as you did for your savings. Not only will this reduce accruing interest, but it will also remove the burden of debt. Watch how you spend money. Don’t max out your credit card or get into more debt when making purchases.

Invest Your Money

It’s not enough to save. No matter how much you put in your bank account, inflation can reduce its value. Research investment types like stocks, shares, bonds, mutual funds, and real estate. Pick the one that is in line with your goals, then invest in it.

As time goes on, diversify your investment to reduce risk. Money is a necessary tool in your daily life. Financial freedom helps you to take charge of it and live a better life.

Disciplining yourself to follow these four steps will set you free from debt and help you achieve your financial goals. More and more of us are finding it all too easy to fall into some kind of problem with debt. By having a plan in place for your money, you can not only avoid falling into problems with debt, you can actually build your money into a sizable savings pot to give you a greater degree of financial freedom in the future.

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Mr. 4HWD

I'm Mr. 4HWD, I started this site because I think everyone should be able to work at a job they enjoy and still have time to do all the fun stuff. I don't want to retire early, I want to work four hours a day on the things I love for the rest of my life.

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