Everyone who wishes to succeed in life has to set priorities. It is wise to have an intelligent plan where you set targets for any aspect of your life: friends, families, professional career, interests, and finances. Those goals should be of all kinds.
We’re going to reflect on the last, financial targets today. Isn’t money buying happiness? Yet it will definitely help everything that you do in life, including your dreams and your interests.
That’s why it is so important to have a plan for money targets. One solution may be like this: you should save for sure and continue to raise more than you have to pay annually, so how about saving it is trying to make a return off it in the future. It’s capital that will make more money. That’s where the idea of passive income comes to life, and instead of trying to fight for the money, you can get the money to work for you.
This offers you a sense of independence, your freedom from regular responsibilities, your freedom to pursue your dream, your freedom to spend time with your families, and you can say no to things you’ve had to say yes in the past just to make money to live.
You can be free of the chains to which you are enslaved with money, it can really be a feeling off the chain!
That’s why they call it financial freedom, with their wise sayings and words of wisdom about the subject, popular writers and celebrities who have accomplished it can be a great source of inspiration.
We have picked the best financial freedom quotes we could find to keep you inspired and motivated for your money goals:
Inspirational Financial Freedom Quotes
1. “The only point in making money is you can tell some big shot where to go.” – Humphrey Bogart
2. “The real key to making money in stocks is not to get scared out of them.” – Peter Lynch
3. “Formal education will make you a living; self-education will make you a fortune.” – Jim Rohn
4. “It’s not how much money you make, but how much money you keep, how hard it works for you, and how many generations you keep it for.” – Robert Kiyosaki
5. “Financial freedom is available to those who learn about it and work for it.” – Robert Kiyosaki
6. “Annual income twenty pounds, annual expenditure nineteen six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result in misery.” – Charles Dickens
7. “Don’t tell me what you value, show me your budget, and I’ll tell you what you value.” – Joe Biden
8. “We make a living by what we get, but we make a life by what we give.” – Winston Churchill
9. “If you want to reap financial blessings, you have to sow financially.” – Joel Osteen
10. “Don’t tell me where your priorities are. Show me where you spend your money and I’ll tell you what they are.” – James W. Frick
11. “Never spend your money before you have earned it.” – Thomas Jefferson
12. “You either master money or, on some level, money masters you.” – Tony Robbins
13. “Everyday is a bank account, and time is our currency. No one is rich, no one is poor, we’ve got 24 hours each.” – Christopher Rice
14. “Financial peace isn’t the acquisition of stuff. It’s learning to live on less than you make, so you can give money back and have money to invest. You can’t win until you do this.” – Dave Ramsey
15. “I also learned that I love making money. Anyone who is not afraid of work will be happy with the money they make.” – Gene Simmons
16. “Money won’t create success, freedom to make it will.” – Nelson Mandela
17. “When you understand that your self-worth is not determined by your net-worth, then you’ll have financial freedom.” – Suze Orman
18. “Easy payments, easy lease, easy approval. Debt is very easy to get into, but makes it hard to live victoriously.” – Bradley Vinson
19. “Opportunity is missed by most people because it is dressed in overalls and looks like work.” – Thomas Edison
20. “Time is a currency you can only spend once, so be careful how you spend it.” – Harmon Okinyo
21. “Financial freedom is freedom from fear.” – Robert Kiyosaki
22. “What we really want to do is what we are really meant to do. When we do what we are meant to do, money comes to us, doors open for us, we feel useful, and the work we do feels like play to us.” – Julia Cameron
23. “Investing should be more like watching paint dry or watching grass grow. If you want excitement, take $800 and go to Las Vegas.” – Paul Samuelson
24. “Every time you borrow money, you’re robbing your future self.” – Nathan W. Morris
25. “Profit in business comes from repeat customers, customers that boast about your project or service, and that bring friends with them.” – W. Edwards Deming
26. “Be nice to geeks, you’ll probably end up working for one.” – Bill Gates
27. “I don’t like money actually, but it quiets the nerves.” – Joe E. Lewis
28. “My definition of financial freedom is simple: it is the ability to live the lifestyle you desire without having to work or rely on anyone else for money.” – T. Harv Eker
29. “Saving is a great habit but without investing and tracking, it just sleeps.” – Manoj Arora
30. “I love making money, but you can’t live your life waiting to get rich in a job that no longer feeds you artistically.” – Julianna Margulies
31. “To obtain financial freedom, one must be either a business owner, an investor or both, generating passive income, particularly on a monthly basis.” – Robert Kiyosaki
32. “The speed of your success is limited only by your dedication and what you’re willing to sacrifice.” – Nathan W. Morris
33. “The struggle for Financial Freedom is very unfair. Just look at the rewards.” – Manoj Arora
34. “Making money is happiness. And that’s a great incentive. Making other people happy is a super-happiness.” – Muhammed Yunus
35. “A big part of financial freedom is having your heart and mind free from worry about the what-ifs of life.” – Suze Orman
36. “An investment in knowledge pays the best interest.” – Benjamin Franklin
37. “Every day I get up and look through the Forbes list of the richest people in America. If I’m not there, I go to work.” – Robert Orben
38. “I don’t believe in spending money lavishly, now that I’m making money.” – Ansel Elgort
39. “Financial Freedom is less about Financials and more about freedom.” – Manoj Arora
“The key to financial freedom and great wealth is a person’s ability or skill to convert earned income into passive income and/or portfolio income.” – Robert Kiyosaki
40. “The key to financial freedom and great wealth is a person’s ability or skill to convert earned income into passive income and/or portfolio income.” – Robert Kiyosaki
41. “How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case.” – Robert G. Allen
42. “A good financial plan is a road map that shows us exactly how the choices we make today will affect our future.” – Alexa Von Tobel
43. “Well, I think that there’s a very thin dividing line between success and failure. And I think if you start a business without financial backing, you’re likely to go the wrong side of that dividing line.” – Richard Branson
44. “You don’t need to raise money. You need to be smart and be focused.” – Mark Cuban
45. “I believe that through knowledge and discipline, financial peace is possible for all of us.” – Dave Ramsey
46. “The interesting thing is: if you do it for love, the money comes anyway.” – Richard St. John
47. “Pursuing your passion is fulfilling and leads to financial freedom.” – Robert G. Allen
48. “Working because you want to, not because you have to is financial freedom.” – Tony Robbins
49. “More important than the how we achieve financial freedom, is the why. Find your reasons why you want to be free and wealthy.” – Robert Kiyosaki
50. “To get rich, you have to be making money while you’re asleep.” – David Bailey
Simple Steps to Financial Freedom
You might have known that money doesn’t buy happiness, and you might have heard that the guy who told you that he actually had a lot of money, but they’re not entirely wrong. What’s closer to the reality, I guess, is making money, not anything that doesn’t have it.
That was said by Kanye West. And while I don’t really take suggestions from rappers on financial issues, Kanye has a pretty decent argument. It becomes a cause of a lot of pain, annoyance, and rage when you don’t have cash. It dominates your life and it becomes the prism you see the world through. Hey, how much did it cost?”Hey, how much did that cost?”
Oh, that must have been costly.”Oh, that must’ve been expensive.”Hey, I think you owe me twenty bucks. You can… you can pay me later. That’s… Venmo?”Hey, I think you owe me 20 bucks. You can… you can pay me later. That’s… Venmo?” And while being rich isn’t going to solve every issue in your life, it seems like a worthy endeavor to add up some cash.
You can no doubt make a decision purely dependent on money until you become financially free. You don’t simply take the work because it pays well, you don’t have to look at the prices of fresh food to make sure that you can afford it, hell, you can take Uber Black to the airport… every once and a while.
Imagine that you were in a position where you never had to think about finances again. And maybe not even too far away Imagine a place where the greatest stressor in your life and relationships was not money. It is quick to take action to get there, but it won’t happen immediately. But let’s start getting started.
Step one: create a fund for emergencies. Save $1,000 to add money into an emergency fund that you’re never going to need under desperate situations. break glass in case of emergency. Emergencies do not contain funds from beer, holidays, or even a ring of dedication. It’s a… It’s a This is a minimalistic ring.
Only if, and when, shit hits the fan should this money be used. When your car breaks down, when you need to repair your water pump, that’s when you go to the emergency fund, practically when your life will otherwise be totally derailed.
Why build an insurance fund for emergencies? And anything that can go wrong can go wrong and you’re going to find plenty to fall back on instead of taking money from your families again, or digging out your credit card, putting yourself deeper into debt.
The best thing about the Emergency Fund is that it’s starting to give you that sense of financial liberty. You may have some space to breathe for the first time in your adult life, maybe. This move is the fastest path in your life to actually begin to take some power back.
Step two: pay down the loan you owe. About 80% of American adults are in debt, and we have all embraced it as the status quo. Maybe we purchased some stuff that we didn’t need to furnish an apartment that we couldn’t afford or buy a new car while we could buy a used model.
For me, one of the main issues with debt is that your monthly income is reduced. But as you spend five or seven hundred bucks, even more on your mortgage, student loans, the allowance on your vehicle significantly reduces the amount of money you can save.
The only thing I’m trying to say is that if you can pay off your debt sooner, you can save thousands of dollars in interest. Forget to cut down on your daily lattes, this is where you’re going to take the biggest step towards freedom of finance.
Let’s tell, over a twenty-year term, if you just pay the minimum over the whole loan duration, you would end up paying the bank over one hundred and fifty-eight thousand dollars in student loans at 5 percent interest. That kind of sounds like an emergency.
And what is the easiest way to get your loans paid off early? There are a lot of questions about how to do this. Second, you should handle high-interest loans. Any loan is a different amount with an interest rate that is different.
The wisest decision is to first attack the highest interest rate by the percentages and cut them down one by one. Another solution is called “The Debt Snowball.”
It takes individual action into account. We’re able to knock things out easier by tackling the smallest debt first, which helps to generate momentum and motivates us to pay off other debts. So I took it and ordered it into a spreadsheet like this when I got extremely serious about paying off my debt early for the first time.
Often, I would log in a few days a week and sometimes I would log in every day and just imagine what it would be like to pay off any of these debts. And I’d just wipe them out, one by one, like a madman, like someone who’s utterly delusional, and I’d keep an eye on my monthly payments, and I knew I’d be able to get out of my parents’ house if I could get them down enough.
This is what drove me, hence. I once again began to have faith. I began to feel like there was a light at the end of the tunnel, and hopefully, I would finally be able to pay for all of this.
Step three: Constructing a runway. What does it be like to have expenses worth six to twelve months in your bank account at all times? Imagine the kind of freedom and prosperity that you would realize if you were ever sick, losing your job, or you couldn’t attract customers anymore, that you would be taken care of for the near future. This is why it’s so important to have a runway.
Set up a spreadsheet to take all your monthly costs into account. Share, grocery, cable, insurance, Netflix, the bill for your cell, etc. So it was an amazing way for me to start seeing what the very least I wanted to live on was to draw all this detail into my spreadsheet.
And this was a very powerful amount to have as a freelance filmmaker with my revenue varying greatly. All right, now for some difficult mathematics.
To achieve the first target runway objective, multiply the figure by six months. The next target after that will be to get a runway for twelve months.
This figure is now the baseline; it’s like an extended fund for an emergency. If I hadn’t put twenty-two thousand dollars in the frame over your room, I suppose the bank will be a little safer.
Step four: open a portfolio for retirement.
Retirement plans are one of the stuff that you know you’re meant to do, so you haven’t done so yet, but you’re going to do that finally, but you’re actually never going to.
Retirement savings are something that often your buddies chat about and if they do you just grin and nod, however, you’re still wondering, and then you say to yourself, “what’s a 401k I’m gonna look that up.” Personal finance is mostly about long-term profit-making short-term sacrifices.
You will be able to set yourself up for a dignified retirement by investing a little bit every year. First, the compound interest is shit, and here’s why: So you’ve got a lot of money like you’ve got ten thousand bucks, and then that money makes money over the span of a year when you’re spending it in stocks and things, and then you’ve got more money by the end of the year, so you’re getting more money on top of that money the next year, and then that money makes even more money and then that money makes more money.
I’m just going to do a short example, but it isn’t as complicated as that. Say, at the age of twenty, you put ten thousand dollars into a 401k earning a ten percent annual return if you never enter the money before you reach seventy years old, you’re going to have more than $1.1 million in the bank, all that by merely throwing aside $10,000.
To see how much you should retire based on your annual earnings, use a compound interest calculator online. Alright, so for me personally, I invest in Vanguard vanguard.com, I invest about ninety percent shares, ten percent bonds, mostly in low-cost mutual funds.
I choose this fund now because it’s basically a snapshot of the economy of the United States.
So it has produced a return of about ten to twelve percent since 1923 when the S&P began, and that’s essentially what this fund is offering me.
Now, for the long term, we’re not worried about a period of five years. So if you’re saving in the long run, you’re not checking your Vanguard account every day, you’re putting your money in every single day, you’re making sure you have it lined up, and then you’re checking it out, maybe in six months, maybe in a year, but you’re not freaking out every time that the stock market is shaky.
A lot of people lost money after 2008 struck, but if you’re saving in the long run, it won’t matter at all, because, in thirty years, you’re going to get your money back finally.
There are several things today that can affect your own investment policy, such as your age, your salary, how much money you think you’re going to need when you retire, how much danger you’re able to accept. Before investing, please do your analysis.
I’m not the financial administrator, lender, or trustee. Learn up and make a decision based on the conditions of your life. There is no definitive blueprint for this. If you’re a freelancer and you can’t risk yourself too much, even if you had five thousand dollars in emergency funds from the very beginning, you’d be better, so do it.
Or maybe you can genuinely afford the extra risk and you decide, “I don’t wanna build six months of runway, I wanna actually start investing in my future and my retirement right now.”
First of all, I personally liked the thought of paying off my debt and then going to my retirement fund, but for a lot of people, if you can’t pay off your debt that easily, you might want to really start your retirement fund now, particularly if you have a 401k-match with your employer because then you can take advantage of the compound interest.
If it were not for reading books such as Absolute Money Makeover by Dave Ramsey or I Would Teach You to be Rich by Ramit Sethi, I would not have been able to pay off my debt.
I would suggest that you read one personal finance book a year or listen to one of a hundred podcasts on the subject. Every year, this will assist you to uphold your goals as we can often be overwhelmed by shiny things.
You’re on the way to financial independence if you have a good emergency fund, pay off your mortgage, paddle your bank account with a runway, and you’ve got your retirement fund underway, and it won’t take you to complete your retirement fund to actually remember that getting money isn’t all.
Is this a really uncomfortable moment to ask for money? if you don’t have the income, if you’re struggling to pay off your mortgage, and if you’re trying to cut down as many costs as possible, That said, if you’re going to have the money, if you’re going to…
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