| There is a process that you will have to go through | | | | time job. This process will add another income stream |
| in order to become financially free. There is no way | | | | to your household. Save this extra income and put it |
| around them and everyone that follows these steps | | | | into a new venture fund. This will prepare you to |
| will succeed: | | | | take the next step. |
| 1- Downsize: | | | | 4- Leverage: |
| Cut back on all unnecessary spending. Anything that | | | | Use the power of leverage to put a turbo boost into |
| you do not need to spend money on right now, stop. | | | | your income. Passive income is something that keeps |
| There is a time for extravagances and if you are | | | | on earning without your direct and constant |
| reading this article right now then this is not the time | | | | supervision. Your primary income can pay for your |
| for you. In order to increase your income you will | | | | living expenses and your extra part time income can |
| first have to make due with what you already have | | | | be used to invest into a passive income venture. |
| and in the best way. Start a budget plan and commit | | | | Examples of passive income are: Stocks, bonds, |
| yourself to it. Get rid of all unnecessary debts. Sell | | | | annuities, network marketing residual income, real |
| the car and get a cheaper one. Sell that over priced | | | | estate and Laundromats. |
| house and purchase a cheaper one with smaller | | | | 5- Plan: |
| mortgage payments. | | | | You must integrate the steps above into a well |
| 2- Raise Your Financial IQ: | | | | thought up and realistic plan of action. Have a |
| Educate yourself about money and how it really | | | | professional create one for you or get together with |
| works. This is the type of education that they do | | | | a business oriented person and create one together. |
| not teach in schools. Go to libraries and book stores | | | | This plan must be signed and dated by you and your |
| then look for books that are dedicated to wealth | | | | spouse. Most people fail because they have no real |
| building and wealth principles. Once you get a better | | | | plan and lack the self discipline to follow through with |
| understanding about how money really works, you | | | | a decision. |
| will make more educated decisions like the wealthy | | | | The 5 steps listed above are very basic and simple |
| do. The higher your financial IQ gets the more | | | | strategies that are overlooked by most people. |
| money you will be able to retain and even grow. | | | | However, they do work and will work for you |
| Learn how to have your money working hard for | | | | because they are simple and straight forward. The |
| you. | | | | most successful people in the world have become |
| 3- Upsize: | | | | financially free due to using simplicity. The more |
| Now that you have cut out all loose spending and | | | | complicated things are, the harder they will be for |
| acquired financial education, it is time to increase your | | | | you to do and stick to. |
| income. Work some overtime or get another part | | | | |