Every person desires to be financially independent. However what sounds conflicting is that, there is something about the money topic that always seem to make people feel uncomfortable.. But why is that? I have come to realise that in the journey of success, in whichever area of life, there is always some ceiling to be broken to achieve the desired goal.
This ceiling comes in the form of self limiting beliefs, our own personalities, cultural beliefs etc.They can further be classified as money blueprints, health blueprints, relationships blueprints all in the line of the above mentioned forms of ceilings.
Let’s talk about Money here. There are many reasons why we know what we should be doing with money but we don’t. One, we tend to put off our money issue to a later date. In such times we exclaim, ” I really need to get serious.” , ” I just need to figure it out”, ” I don’t know anything about money ” etc. When in debts, we say ” I am overwhelmed” , ” My money issue is out of control” what we don’t realise is that all these ways of looking at money prevents us from taking the first step to financial freedom.
Financial freedom or independence begins in the mind. It begins with how we tell ourselves concerning money. When we are struggling, it should be a message to us that there is something we don’t know about money or we know but are not implementing. There is a difference between what we know and what we do.
Financial literacy/ education is the beginning of a financially independent mind. Gold Finance Academy, under Gold Avenue Africa teaches among other things The Mindset of An Investor.
On the other hand if we are diving into entrepreneurship, its good to understand that money follows the vision. Most people mistake that to attain financial independence they must be in business and jumps into it with their sole desire being making a lot of money. When this does not work, they start questioning if really one can attain financial independence in entrepreneurship. The answer is Yes. A financially independent mind recognizes that, being financially independent is a process that takes Action steps. They don’t feel inferior because of their current bank balance and understand clearly that Money follows the vision. There is more to learn for upcoming entrepreneurs through the program.
Here are some basic habits towards financial independence.
- Spend less than you earn: This simply means to live within your means. Most of the times we find ourselves overburdened by more expenses than our income can meet. This creates a budget deficit and we end up borrowing to sustain our lifestyle. This has largely been known to affect the Middle class lifestyle.
- Make money work for you. Robert kiyosaki, the Author of Rich dad Poor dad writes that while his poor dad concentrated on working for money, his rich dad taught him to have money work for him. Ideally the poor dad wasn’t ‘ literally’ poor, but he had a poor money mentality.
This is the concept of compounding interest where investing the principal has the potential to earn you interest above the principal amount.
Gold Avenue Africa focuses on trading on behalf of investors thus achieving an above market return rate for investors.
Getting the right channel of investing is crucial. We know the inflation rate currently is at 7% so Gold avenue has tailored packages of investment to a tune of 13%, 16% and 20% rate of return.
- Protect your Money: This can be achieved through creation of an Emergency fund. The reason behind an emergency fund is to cushion yourself from the financial loss that can come from retrenchment, job loss, small accidents that will require immediate attention.
Others include insurance over assets, health insurance etc.
You don’t have to be the smartest to attain financial independence, willingness to learn and the commitment to grow will get you there.