Why Create Financial Freedom?
Create Financial Freedom
When we were at school teachers taught us how to depend on a job for money. Teachers rarely touched the subject of self-sufficiency. School has programmed us to work hard for a steady paying job that provides a regular income. However, this may sound safe, remember that safe isn’t always smart.
Look at the current climate, people are losing jobs due to a global recession. Being dependent on other people creates a mentality of expectation. Where we expect someone to give us something in this case a job.
Being an employee is very expensive
Do you hate Monday mornings? Do you feel relieved on late Friday afternoon when it is time to go home? On Sunday evening do you hate the feeling that the weekend has ended at your back to your job? This is a common feeling for too many people.
You give up a lot just for a paycheck. You may only realise that when you step back and think about things for a while. You need to ask yourself are there better ways of making my lifestyle better?
What a job as an employee is costing you
Time – A job is costing you a great deal of time. In a full-time job you are trading time for an hourly rate. If you want to increase your income you need to work more hours per week.
Money – Earned income is the highest taxed form of income. The government gets their cut before you even see your money. Have you ever questioned what has your government done for you lately? Remember the government, doesn’t pay for anything the taxpayer does.
You live by a watch – Working for an employee you need to keep an eye on time, you have fixed time for lunches and breaks. You need to work around what is best for your company. You’ll live to be working for the needs of your employer in order to make a living.
You’ll learn to obey - Being an employee you have to buy their rules and regulations. Some of their rules you may not agree with. Remember these are to keep you on the straight and narrow. Their are plenty of policies to keep you disciplined if you want to keep your job. Let’s look at the lowest common denominator, people are in a job in order to survive by paying their living costs. Many people tolerate a job they hate just to keep money flowing in.
Clothing – You need to buy clothing for your job, maybe a selection of suits. In the summer months it maybe too hot to wear a suit. But company policy says you’ve got to wear a suit and tie, because it looks good for business.
Illness – When you are ill, do you really think that you’re employer is sympathetic? They may appear to be. They are really thinking, how I am going to meet this deadline now as my employee is now sick. In a job you are seen as a cog in the system. A cog can be replaced at any time, if they need new components they will advertise for other posts. That may sound harsh but that is the role of a business.
A full time job is a short term solution to a long term problem
It is much harder to become wealthy with one income stream. An employee is living from paycheck to paycheck. Your on a treadmill that you can’t get off.
You need to diversify and think how much stronger you’d be with multiple income streams. The successful people have figured this out, so having one stream is income is not the best way to make money.
Why is it vital to create financial freedom?
Think long term. Do you really want to do working for someone for 40 years? If you get a pension and a mortage will you have a lot to show for it at retirement? A pension is classed as earned income and this is classed under the highest rate of tax. Therefore, the taxman will have his slice of the cake. Financial freedom allows you to create a lifestyle that you so righteously deserve. I’ve worked hard all my life and I am still young, but you’ll realise that it is not worth it. The answer is work smart. The successful people work smarter not harder. Passive income The here is a buzz word that is thrown around a lot. Passive income is where you earn money without actively working on something. Earned income is a job where you trade time for money. Passive income I must emphasise is not easy to do like earned income. Many people say that passive income is easy to create don’t always believe what you here. Passive income takes time to set up, so don’t believe the hype that you can make thousands of dollars overnight. One of the best methods of creating passive income is creating a blog and update content on a regular basis. If you choose to do this method you are going to need a lot of heart and passion in your niche. Passive income is a long term fix for a long term problem Passive income takes time to create. A successful blog may take anything from 12 months to 5 years to become successful. You must think long term if you want to be wealthy. This is something I believe that people may struggle with, however, all you need to do is look at the state of the world and see who’s been successful. Find some successful role models and find out what makes that successful. Examples of passive income from a blog:
- Advertising
- Selling products
- Affiliate marketing
The Internet doesn’t have huge overheads. If you invested in real estate you’d have larger overheads. The beauty of a website or blog you can create one very cheaply all you need is:
- A reliable web host
- A domain name
- A newsletter auto responder
- A niche your passionate about
- A passion for writing
- Ambition
- Be dedicated to your business idea
- Patience
Mr Coleman
Very well put, I think we all go through this train of thought. Working full time is a win loose situation, what you loose in time you make up for with financial stability.
Still time will always be important its just hard to see it that way at times.
Very nicewebsite, i will be looking at your old blogs shortly.
Posted 3-30-2009
James King
Hi Mr Coleman,
Thanks for your input, I agree placing your time for money is a poor way of making money, I honestly feel I could use my time most effectively to earn more money. But I am only young, so now is a great time to start.
Posted 3-30-2009
Salwa
Great informative article James.
My most fuv part of been financial freedom is to have a the kind of lifestyle when you are able to do what you want, when you want.
Posted 3-30-2009
James King
Hi Salwa,
So pleased you like the article. I probably speak for a major of bloggers out there. I know a lot of people who hate working 9-5, it does suck.
Posted 3-31-2009
Carla
A year or even six months ago, I never thought I would be a blogger. I have an online store which requires a lot of hands on work, and now I have a growing blog. I don’t know where both of these potential streams of income will go in the next year or so, but at least it’s good to have the ball rolling on a few different projects.
Posted 4-1-2009
James King
Hi Carla,
Thank you for reading my post. Blogging is what you make it. I love blogging it keeps my alive. What I love is when I am asleep people across the globe are still reading my content.
Keep in touch,
Posted 4-1-2009
The Almost Millionaire
Very inspiring post. That is the reason that I do what I do every day. I’m working towards the time freedom that financial freedom will mean in my life!
Cheers!
Brandon
Posted 4-1-2009
James King
Hi The Almost Millionaire,
Thank you for commenting I am pleased, you are on the way to living your dreams.
Posted 4-2-2009
Houston search engine optimization
I just came here and see this nice post, very quality information is provided in the blog. I really enjoyed it and appreciate.
Posted 5-18-2009
James King
Hi Houston Search Engine Optimization,
Thanks for your comments, I feel strongly about this, so it is a passionate subject for me.
Please keep in touch.
Posted 5-18-2009
Autoseller Network
Brilliant updates and incredible information is provided by you in a same time. I liked the way you have presented various things together in a beautiful manner.
Posted 5-21-2009
James King
Hi Autoseller Network,
Thanks for your comment, I am pleased that this information is proven handy. It seems that it is in demand so I’ll produce so more of this content.
Thanks for stopping by.
Posted 5-21-2009