Financial Freedom is a book that states a Proven Path to all the money you’ll ever need by Grant Sabatier. Financial Freedom is an international bestseller book that has the best financial tips to become wealthy. The points highlighted in the book Financial Freedom can lead anyone towards becoming financially free and one can take early retirement and leave a happy life after.
About the author
The author of the book at the age of 24 had no job in hand. He only had 2 dollars 26 cents in his account. On his credit card he had 20000 dollars in debt but working hard for five years he was able to create a network of 1.25 million dollars. Within 5 years, he was from zero to millionaire.
Four points of the book are as follows:
1) Know the true cost of a purchase
Whatever you purchase do not take that just by the attraction of the object. You need to use your mind and ponder over if you are going to use the product for a long period of time or not. Do not pick up your liabilities. Focus on the assets only and spend money on that.
If your salary is Rs.30000 per month, one day you go inside a mall and out of vibe you buy a 25000 rupees watch. You worked hard for 15 days just to buy a watch. It is a wastage of money. If you have 2 lakhs per month salary then go for it and buy. That won’t create any issue.
2) Work hard in your free time
After coming from the office one either watches series or movies or wastes time on social media. If you want to increase net worth and income you should put in some effort. Like writers said that they used to earn 50000 dollars per year in a digital market agency. Simultaneously they used to work 40 hours per week for earning more money.
For example building websites for law firms, sell domain names, run campaigns of digital marketing. Utilize the time and you can be financially independent.
3) Planning for retirement
How one can calculate that he/she needs not to earn afterward and earn now for the retirement. So afterward after being financially independent go and live somewhere peacefully in your own hometown with family. For this, you need to know how much amount of money you need to be financially independent.
First, multiply the overall one-year expenditure by 25. That much money you need to earn until you deposit that. For example, expenditure is 500000. Multiplying it by 25 gives 12500000. This much one needs to earn provided you do not have any responsibility otherwise complete the responsibility then do this.
Learn investing and deposit it religiously. Not only save also invest.
4) Track your number daily
You calculated your expenses per year then you need to calculate your free time and how much time you can invest in your side hustle. Keep a daily check on your progress and done. This way productivity will increase. Revisit the calculation daily and analyze yourself.
The writer recommends checking net worth daily in the morning. Check your accounts daily, monthly and daily expenditure. Keep checking whether you are not doing worthless expenditure.
You can do small work too that might hurt one’s ego. If you have to retire at a young age then you should not have a problem doing this.
Therefore readers must apply these 4 points in his/her life. You will get the result.