The first step to financial freedom is to stop creating debt now! This is a difficult task for most people, however to achieve the freedom you want, it has to be done. Destroying all credit cards, and closing all credit accounts is a great way to stop creating debt. Even if credit cards are not in regular use and are to be used for emergencies only, they are likely to be abused and over used. There are plenty of other options to getting money in an emergency.
The second step is to rank the current debt in the order of which can be paid off the fastest to gain your financial freedom. Debt is not the same as a monthly bill. For example a mortgage is a debt however utility bills or taxes are no debt. To order debts, make a list of money owned then divide each by the required monthly payment. The lower the number the higher on the list that particular debt goes. Remember, financial freedom begins with being honest about current financial state and goals for the future. Focusing on the debt with the fewest payments due, debt is paid off quicker, and leaves more money available to pay off the larger debts.
The next step in your pursuit to financial freedom is to put aside ten percent of the household income. To calculate what ten percent of the income is take the yearly income and divide it by twelve and then multiple that by 0.1. Most people avoid budgeting because it seems so difficult but it does not have too. To create a budget makes a list of where the money is going and when. When the list is complete then examine what is being spent, what can bills can be cut out completely, and what bills can be reduced. Next, place the bills in order of priority. Having a budget is a great base for all the steps you need to take for financial freedom.
The final step to jump starting your freedom from debt is to pay the monthly payment on the first debt on your list plus the ten percent of income that has been set aside for the month. Pay that way until the debt is wiped clean. Then do the same for the next debt on the list and also apply whatever was being paid on the previously removed debt.
Everyone dreams of the freedom and lifestyle that having no debt can achieve. To gain this freedom debt must aggressively be destroyed and only through an honest approach to your finances. It can be disheartening to take a look in the mirror and have to confront problems which have existed for years.
However, once you do you will feel relief and perhaps for the first time in years comfort in knowing your future will be secure. Financial freedom begins with honesty. If you need help handling your debts see out a credit counselor. It is never to late to get your finances in order.
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Why not take something you do naturally and use it to make money? This is what network marketing is all about. If you have ever told a friend about a really good book you've just read, or a great health product or wonderful service, and they have bought it on your recommendation, you are engaging in networking. Why not use this very simple idea to help you on your way to financial freedom?
The next time you find a product you love, why not find out if the company has an affiliate program which would allow you to earn commission from your recommendations? When you already already like a product, it is easy to speak about it with genuine enthusiasm, and if your friends go ahead and buy it, you will make a bit of money.
This works well for all parties. The company gets another sale, your friend gets a great product and you get paid. Furthermore, if they like the product enough they have the opportunity to join the affiliate program in your own downline so that you both get paid for commission for any sales they make.
Network marketing is becoming a popular way for companies to sell their products. And it's not only products, but also services such as personal development programs and training resources that can be sold in this way, and enable you and your downline to learn and grow as well as earn money.
For example, one personal development company, Success University, has grown in popularity so quickly through its own affiliate marketing system, that is has become the most popular self growth company on the internet. Other training programs, such as Mindtools, also offer affiliate programs, as do large, well known companies such as Amazon and Ancestry.
Courses and programs like this can be promoted both online and offline, with affiliates usually choosing one over the other, depending on which form of marketing they feel most comfortable with.
With a little bit of imagination, you can find all kinds of ways to promote these services. Furthermore, if you already work in personal development or the training industry, there is no reason why you could not adapt some of Success University's courses and promote the company at the same time. There is no end to the ways you could promote such a service, as long as you remain enthusiastic about the service yourself.
The main ingredient of being building a successful networking business is enthusiasm. That is why it is important that you find a product or service that you like first before you sign up and begin promoting it. Many people make the mistake of trying to promote a product that they do not even use themselves, and this will seriously limit their ability to sell.
If you are serious about finding your way to financial freedom through network marketing, you could position yourself in a niche area that fits your lifestyle and interests, and build a business selling and promote products and services within this area. Personal development is one such area, but others are health, travel, pets, books and many more. Just take your pick!
Both Mika Hamilton & Rosamunde Bott are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.
Mika Hamilton has sinced written about articles on various topics from Investments, Banking and Bear Stock Market. More Articles & Tutorials and a Free Investing For Beginners E-Course at. Mika Hamilton's top article generates over 90500 views. Bookmark Mika Hamilton to your Favourites.
Rosamunde Bott has sinced written about articles on various topics from Web Development, Personal Finance and Work From Home. Ros runs her own online business and is also a successful writer and life coach.Find opportunities (including Success University) at her website at Financial Freedom Online. Rosamunde Bott's top article generates over 18100 views. Bookmark Rosamunde Bott to your Favourites.
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