In today’s session, I want to talk about financial freedom and how to best attain it without breaking the bank.
Before I begin, it’s important to note that, financial stability/freedom is a needed ingredient for your well-being and happiness. A large junk of stress, anxiety, and depression can be alluded to being behind on your bills, unable to afford the things you need for your survival and thriving.
Nobody wants or likes to be broke. Not you, certainly not anybody. Not even Dr, Hey! Financial freedom is attained after reaching a level of stability. Stability here means that your income exceeds your expenditure. Or, in the worst-case scenario, your income equals your expenditure.
In either case, equals or exceeds, more important is the certainty and reliability of your income. Your income must keep flowing in to meet your expenses.
Once there’s certainty and reliability in your income flow, and if your income exceeds your expenses, then you’ve achieved financial stability.
How Much Do You Make?
How much you make goes two ways; quantity and frequency. In other words, how much you earn and how often. You could earn $1000 every week. $500 every day. $10 every minute. or, $1000 every year, etc. Some people make more money in an hour than many others will ever make in a year! Others make in a week what many others might never make in their lifetime.
The good news is, it doesn’t really matter. What does?
How Much Do You Keep?
How much you keep goes three ways; quantity, frequency, and holding time. In other words, how much you save aside from your total earnings, how often you save, and how long you keep the total money you save.
How Much You Make vs. How Much You Keep
Imagine a person who makes $1000 every week, but then spends all of it before the beginning of every new week. Funny enough, this person is rich on every last day of the week, and broke on every first of the new week. Shocking!
Imagine another person makes $100 every week, spends $90 in the same week, and saves $10 every week. Wow!
This person is $10 rich every first day of the new week compared to the first example.
You can make all the money in the world, but if you lose it as soon as you make it, then my friend, you’re wasting your time. Stop, pause, reflect, and don’t dare miss my next session.
Read iv. Dr. Hey You
Read III. Dr. Hey You
Read II. Dr. Hey You
Read I. Dr. Hey You