Success Allies Towards Financial Freedom

Our journey to financial freedom is attainable because we have allies that can help us along the way.  We need to maximize our options and resources that surround us to make our journey safer and faster.  These success allies if appropriately utilized, will shower us with more money which we can eventually share for the benefit of others.

Prayer

Our relationship to God is a very important ally towards our Financial Freedom.  Prayer is so powerful that our dreams in life will be given to us in His time as long as we ask and believe that we have them.  We just need to submit our dreams to Him and help will be on the way.

Refer to this verse in the Bible regarding the power of prayer:

“And whatever you ask in prayer, you will receive, if you have faith.” – Matthew 21:22 ESV

Time

When we give our hard-earned money  some time to grow, our money will double.  Building wealth is not a get rich quick scheme that the money will grow in just a year or two.  We should follow the natural law.  Just like planting a mango tree, when you plant it today; it will not bear fruit overnight.  It will take years for that sweet fruit to come out.  Money is like that, we need to give them time in order for them to grow appropriately.

Compounding of Interest

Albert Einstein notably described it as the “8th Wonder of the World” and it is “Man’s Greatest Invention”.  There is a reason why he says it that way.  If we put our money in right and sound financial facilities that will give us good rate of return, we can outpace inflation and wealth building will be faster.  We will tackle it here in details as we go along.

Team of Like-minded Individuals

Our journey through financial freedom will not be possible if we will do it alone.  Along the way, we will meet people in different walks of life.  We need a circle of individuals with successful mindset.  As Napoleon Hill puts it in his book Think and Grow Rich, you can create a Master Mind Group that will help each other to reach your financial goals.

Multiple Sources of Income

Income from our monthly salary alone might not be sufficient to meet our required financial goal.  That is why additional sources of income will be of great help to be financially free faster.  Imagine also the skills that we will acquire from these ventures which will be advantageous in running a business and decision-making.

Leverage

The power of leverage will make your money grow exponentially.  Wisely utilizing the resources and people can ease up our wealth building.  One good example is a good debt, wherein we can use our debt for a calculated risk in investing or putting up a business.  Another one is pooling of resources from a group of people to alleviate the cost of achieving a goal when done alone.

Discipline to Save

Discipline in saving and making your money grow is very difficult, but with determination and drive to pursue your financial goal, nothing can be an obstacle.  By setting aside regularly, whether a small or a big portion of your income to a sound financial facility, your money will grow little by little.

Refer to this verse in the Bible regarding this:

“Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” – Proverbs 13:11 ESV

Life of Balance

Growing our money entails growing all the aspects in our life.  Good health will alleviate any emergency due to illness.  Great relationship with others can give us opportunities for generating extra income and starting a business.  Close relationship with family will fuel you to reach your financial goal.  Spiritual attachment to God will guide us to be good stewards of money.  We will be looking at money as an instrument of giving it for the benefit of others.

Spend Less than you Earn

Spending less than you earn simply means that you are living within your means.  When you receive your salary, pay yourself first because you are the one who worked hard for the money.  Then that will be the time that you can engage into spending the money left.  Try to practice this, your money will grow in no time.

Diversify your Funds

Putting your money to different  investment facilities and risk types will lessen the chances of your money to be totally lost.  “Do not put all your eggs in one basket”, allocating separate funds in different aspects of financial life will give balance and decrease possible risks.

Invest in Yourself

Attending seminars, reading self-empowerment and personal finance books are ways of investing in yourself.  Given the fact that you are reading this article right now, you are already investing in yourself.  Armed with right information and the desire to take action and making your financial goal happen, financial independence is attainable.

These success allies are always available around you, waiting for you to call on them and work for you in your fight towards financial freedom.

Do you know other success allies that can help in achieving financial freedom?  Meet us in the comments.

Photo credit:  bampop
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