How To Achieve Financial Freedom

money bagThe New Year may be several months away, but the time to financially prepare for it is right now.  While it may take patience and discipline, financial freedom is within your reach.  Whether you’re trying to pay off large debts or boost your savings for a rainy day, large purchase or retirement, make 2017 the year you achieve financial freedom.


Only 39% of Americans have a “rainy day” fund that could cover at least three months of expenses.  An unexpected bill, an emergency or a job loss could put many Americans in a situation where they can’t make ends meet.  Even if money is tight, there are still ways to save more of what you earn.

  1.  Know where your money is going.  This will help you figure out where you can adjust your current spending.
    1. List your fixed expenses, such as your utilities, groceries and debt payments.
    2. List the expenses you have a few times a year, such as taxes, car maintenance and vacations.
    3. List what you spent in the last month on “extras”, including shopping, going out to eat, morning coffee etc
    4. Total your expenses and compare them to your net income.  If you’re spending more than you earn, make cuts to your “extras” first and the look for ways to adjust spending on your fixed expenses.
  2. Set a budget.  More than 82% of Americans have a budget.  A budget helps people plan their finances and mitigate the impact of any surprise bills or expenses.
  3. Look for ways to save.  Some bills, like your utilities, vary each month, which makes it easier to save money by being more efficient with your use.  For bills with more fixed costs, such as cell calculating expensesphone, cable or internet, shop around for reduced service rates to help you save more money each month.  Use your newfound savings to grown an emergency fund.
  4. Set up automatic savings if you haven’t done already.  That way, you don’t have to think about transferring money each month.
  5. Continue to track your spending.  This may be the most important step; after all, what good is a budget if you don’t follow it?  Track your receipts, review your budget and look over your bank statements.

You have 3 months left in 2016, use that time to prepare your budget for 2017 and figure out ways to cut your fixed costs.  You will be surprised how quickly that extra money will accumulate!  Once you have your emergency fund saved up, start working on your home downpayment.  I am here to help when you have conquered your finances and are ready to sell your home to upsize or downsize or buy your first home!

Remember it is always toasty in Naples and you deserve your piece of Naples sunshine and financial freedom in paradise!


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