In this post, I'll be sharing a free income tracker printable. Use this printable to track your income and begin accomplishing your money-making goals today.
Along with the free printable, I'll also be sharing 5 things you can do to achieve financial freedom.
Money is one of the most important things in this world. I say this because money allows you to have financial freedom.
This means you can make sure your family is taken care of, and your future is financially secure.
Many people believe that they'll never be able to achieve financial freedom, and that's not true.
There are simple steps that you can take to achieve financial freedom and begin accomplishing your money-making goals today.
5 Simple Ways to Achieve Financial Freedom
More Articles You May Like:
- The No-Brainer Way to Make Money Shopping with Rakuten
- 11 Ways to Make $150 Every Month Doing Things You Already Do
- Earn Money With These 6 Affiliate Programs for Bloggers
1. Save Your Money
The most important step you can take towards achieving financial freedom is to save your money.
Easier said than done, I know.
Think about it this way.
We are constantly being taxed. Every purchase we make, every sale we make (if you run a business), every paycheck you receive, you're being taxed.
Heck, you even get taxed when you receive free items.
What I’m trying to say is the government is serious about saving your money, so you should be too!
The average amount of federal taxes deducted from people who make between forty to fifty thousand dollars are taxed around 11% of their income.
I recommend that you pay yourself anywhere from 10-15% percent of your income, every paycheck. For bonus points, have this money automatically deducted from your pay. This will ensure that you're always investing in your future.
Get cash back when you shop online by using Rakuten. Sign up here for FREE and get $10 as soon as you make your first qualifying purchase through Rakuten.
2. Eat Out Less
Another way to save money is one of the more obvious ways. Don’t eat out as much!
According to the Bureau of Labor Statistics, in 2016, the average American household spent around $3,154 eating out. On average, that totals $262 per month. For some of us, that's a car payment or more.
When you put how much you spend on eating out into perspective, you realize how much money you could actually be saving.
3. Give Yourself a Grocery Budget
Along with eating out less, you should also try spending less on the food you eat at home. According to the Bureau of Labor Statistics, in 2016, the average American household spent an average of $4,049 on groceries. Find out how much you spend on groceries monthly, and see where you can make improvements in your spending.
If you buy name brand food products, consider purchasing the generic brand instead. Generic doesn't mean bad. In fact, we've found that store brands like the Walmart brand are often better than the name brand.
Try comparing your favorite name brand food items with the lower-priced competitor and see which one you prefer.
4. Stop Buying the Latest Version of Everything
You don’t always have to have the newest this or that. I have many friends and family members who fall prey to the gimmicks.
When a new phone is released, it looks sleek and has an amazing camera. You just have to have it, right? No, you don't.
Advertisements are meant to play on your weaknesses; that's why it's called "targeted advertising." When you see something you want, but don’t need it, don't buy it.
5. Create a Budget
Calculate how much money you spend on bills and other necessities. Your savings should be treated as a necessity. Next, calculate how much money you will have after everything is taken care of.
After you determine that number, put five percent of what you have leftover in an emergency savings account. The rest is yours to spend guilt-free.
Saving money isn't always fun. However, it will be worth it in the long run.
If you follow the tips listed in this post, you will be on your way to financial freedom.