subject: An Amazingly Simple Formula on How to Attain Financial Freedom So That You Never Have to Worry About Money Again! by:Brandon Wilkins [print this page] After several years of research, reading all types of money making books, investing in all types of business opportunities, my wife and I have finally realized a simple way thats helped many people become financially free. I wont pretend that I have the magic formula that will: make you $100,000 in 3 minutes while you sit on the couch, or allow you to retire next week without ever leaving the house!
Now, Im not saying that the folks who sell those programs are lying because I havent done them all, but years ago, I tried a couple of them and lets just say the only thing that happened while I sat on the couch was I made an imprint!
Lets face it: If you truly want to get rich & achieve financial independence, its going to take some work! However, if I told you that you could become rich and increase your net worth (regardless of how much money you currently make) by using a tried and true formula that consists of 3 simple steps, would you believe me? Well you should, because it works!
How do I know? Because We Have Used This Formula to Increase Our Net Worth Over 300% over the past 7 years!
It could happen sooner or it might take a little longer for you depending on your situation. But, what I can guarantee is that if you follow these three simple steps, YOU WILL ACHIEVE FINANCIAL INDEPENDENCE!
Ive spent many years (AND DOLLARS) looking for ways to become rich and financially free. I can honestly tell you that of the many things Ive tried, some worked and some didnt. Instead of getting upset about the things that didnt work, my wife and I had a conversation and we simply asked ourselves, Of all the things weve tried that did work, what did they have in common?
And that is how we were able to come up with the simple 3 step formula that weve been following for the past several years that has allowed us to walk the path towards wealth and financial independence.
Before I share the formula with you, let me just answer one question so that you can decide if Im someone you want to listen to or not:
QUESTION: WHAT DO YOU CONSIDER FINANCIAL FREEDOM, INDEPENDENCE, OR BEING RICH?
I think if you were to ask ten different people this question, youd get ten different answers. So, what I consider being rich might be totally different than what you consider being rich. However, financial freedom for me was the point where my wife and I did not have to have jobs in order to sustain our quality of life. Im not saying that having a job is a bad thing. But the key is working somewhere because you want to, not because you have to! And being financially independent will make it much easier for you to decide if you want to have a job or not.
SO WHAT IS THIS FORMULA?
As I mentioned earlier, it is 3 simple actions. The greatest thing about the formula is that you dont have to do the steps in any particular order. You can do them one at a time or work on all three simultaneously:
Step 1: Debt Reduction
In order to get rich, you have to reduce the amount of debt that you owe others. It is important to know that not all debt is bad. Good debt is that debt which helps you to become richer. As one famous author puts it, Good debt is that which someone else pays for you. Your goal should be to get rid of bad debt first and then work to eliminate good debt.
Step 2: Expense Management
In order to get rich, you must manage expenses. You need to identify where you are spending your money and then determine what is absolutely necessary and where you can trim. This doesnt mean you have to change your way of life, but instead take better control by being prepared. Your goal should be to prepare for new expenses in advance while minimizing the risks of being caught off guard.
Step 3: Multiple Income Streams
In order to get rich, you must have more than one source of revenue. So often I hear people say, I could be rich if I just got a higher paying job. Believe me, there are financially free people who make less than $40,000 annually, and there are people making over $100,000 annually who are broke. Its not about making more money from one source of revenue; its about making money from more sources. Think about it: if you make $50,000 from one income stream (e.g. job) and you lose that job, you are temporarily doomed. But if you make $5,000 from ten income streams (e.g. businesses, stocks, real estate, etc.) and you lose one (maybe the stocks tank), you still have $45,000 coming in. There are tons of books, seminars and courses you can take on building streams of income. Your goal should be to always have 4 or more income streams going.
So there you have it. An amazingly simple three step formula on how to attain financial freedom so that you never have to worry about money again!
About the author
Brandon Wilkins is a financial expert and co-founder of Financial Freedom Builders LLC. Mr. Wilkins is also the author of the financial classic, Getting Rich is Simple...But It Ain't Easy! He is available for coaching, workshops and seminars designed to help you take control of your finances.
Did you find this article useful? You can learn a lot more about applying wealth building strategies at: www.TheFinancialFreedomBuilders.com/richbook.html.
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