7 steps to Financial Freedom

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The financial system in America today is based on debt and borrowing. Mortgages are designed around the expectation that the properties value will always go up; credit and credit cards are designed to keep people in debt and at the edge of there ability to re-pay; everyone will tell you, you have to barrow to buy a car, to get a good quality education, and in no way is it possible to get into a good house without a good history of credit.

The reality is that this is all part of a big lie perpetrated by our own social ideals of consumptionism, fueled by capitalism, and enslavingly villainised by greed and frivolity. The truth is that our debt fueled economy has only been this way for the last few decades. For those of you lucky enough to have a much older and more experienced grandparent still around, just ask them about what it used to take to get into a home in their day. Ask them how they dealt with their credit card payments, and what their parents taught them about debt and borrowing in general.

If you are unlucky, and have gotten yourself into a world of financial distress, or just feel like you never quite have enough to get ahead of the game, there is hope. and here you will find that hope:

  1. Budgeting - You cannot spend more then you have, or you will never achieve financial freedom.
    • The other half of this coin is your income: learn all you reasonably can and have a good work ethic to increase your income.

  2. Financial Vices - Get rid of the things that are holding you back.

  3. Rainy Day Funds - Yes, you can plan for the unexpected.

  4. Debt Pay-off - Get rid of any debt that is unsecured, or under-secured.

  5. Full Emergency Plan - The Adult Security Blanket.
    • It's more then just having a bunch of money saved up.

  6. Savings, Investing, and Giving - How to manage your Stewardship.

  7. Mortgage Pay off - Find out what it truly means to be Financially Free.

The Short-cut version: http://blog.spaldam.com/2010/11/financial-freedom-in-7-steps.html

Also see: 7 steps to predict the financial future