Do you want to have financial freedom? Of course you do. Freedom of any kind is a desire that is common to mankind. Then why, in America, The Land of the Free, is financial freedom so rare? I believe its because people in general have forgotten, or were never taught that freedom isnt free. All the liberties we enjoy in this country have been fought for...whether on a battlefield, in a courtroom, or through organized private efforts. My point is, if you want to be financially free, and youre not there yet, its going to take some effort on your part. Youre going to have to fight for it, and the biggest battle will be the one against yourself. What I mean is, youre going to need to learn and practice certain disciplines to make financial freedom your reality. Having discipline really is a kind of battle against yourself to bring about change in your life.



The First Essential Discipline Needed for Financial Freedom

Countless books and articles have been written about achieving prosperity and there are an almost infinite number of skills and strategies taught concerning personal wealth creation, but I want to put the spotlight on the first essential fundamental in the wealth-building process for you as a starting point: cash flow management. You must master this first if you want to live a life of financial freedom. There are three basic components to cash flow management:

1. Make a budget and stick to it. You simply cannot build lasting wealth if you spend more than you earn. Sounds simple, and it is, but simple does not mean easy. It takes effort to stop, sit down, assess your monthly cash flow, and account for where youre spending your money. It can be a painful process, especially if you currently spend more than you earn and have a lot of debt, but this is one battle that needs to be fought and won for your own good. Its absolutely crucial.

2. Accumulate savings. What does having money saved up have to do with cash flow? Well, just as it will take discipline to create and live within your budget, it takes discipline to pay yourself first and build up savings, while resisting any temptation to use that money for anything other than emergencies or a planned future purchase of a big-ticket item such as a home, car, or vacation. Most financial advisors recommend having somewhere between 3 to 12 months of income in a savings account, cds, or money market account. That way, in case your income is interrupted for a period of time for any reason, you wont be forced to increase your personal debt much, or at all.

3. Pay off your credit cards, mortgage, and installment loans as fast as possible. It should be obvious that if you are sending $2,000 every month to your creditors, then you could be accumulating and investing $24,000 more each year if you didnt have those debts. Thats easy enough to understand. There are a number of programs and strategies readily available, designed to help get you out of debt.

Listen, I dont want to go off on too many of the vast tangents that grow out of the concepts Im sharing with you. My intent is to keep this article simple and straightforward for you. But right now, I can almost hear some of you saying something like this, My CPA/Financial Advisor/Neighbor/Mothers Cousins Veterinarians Assistant says that you shouldnt pay off your mortgage early, or at all, because of the tax deduction you get on the mortgage interest. Because that is such a prevalent piece of advice that many people follow, Ive got two points to make here to offer you another perspective:

Point #1. If that tax deduction is so important to you, I know a mortgage broker who will be happy to re-finance your mortgage for you at a higher interest rate than your current mortgage. Just imagine the tax deduction you could enjoy with a 15% mortgage interest rate! Yes, Im being sarcastic. I dont expect my email inbox to be filling up any time soon with requests for that deal. Read over that again and think about it.

Point #2. If youre in a 25% marginal tax bracket, then you save $250 in taxes for every $1,000 you spend on interest. If I put $250 on the table in one pile and $1,000 in another pile in front of you and tell you to pick up the pile youd rather have, which one are you going to choose? This is not a trick question...the answer is obvious. So folks, pay off the mortgage, pay the 25% tax, and keep 75% for you.

I (almost) apologize for my sarcasm, but doesnt that put the idea about keeping your mortgage for a tax deduction in a different light?

Now, follow some good advice, and go to work to create your personal financial freedom.

Do you want to have financial freedom? Of of course you do. Freedom of any kind is a desire that is common to mankind. Then why, in America, The Land of the Free, is fiscal freedom so rare? I conceive its because people in general have forgotten, or were never taught that exemption isnt free. All the liberties we enjoy in this area have been fought for...whether on a battlefield, in a courtroom, or done unionized private efforts. My point is, if you want to be financially free, and youre not there yet, its going to take some effort on your part. Youre going to have to fight for it, and the biggest combat will be the one against yourself. What I mean is, youre going to need to learn and recitation sure disciplines to make financial freedom your reality. Having discipline very is a kind of conflict against yourself to bring about change in your life.

The First Essential Discipline needed for Financial Freedom

Countless books and articles have been written about achieving prosperity and there are an almost unnumerable number of skills and strategies taught concerning personal riches creation, but I want to put the spotlight on the first crucial fundamental in the wealth-building process for you as a starting point: cash flow management. You must master this first if you want to live a life of fiscal freedom. There are three basic components to cash flow management:

1. Make a budget and stick to it. You just cannot build eternal wealth if you spend more than you earn. Sounds simple, and it is, but simpleton does not mean easy. It takes effort to stop, sit down, assess your monthly cash flow, and account for where youre spending your money. It can be a painful process, peculiarly if you currently spend more than you earn and have a lot of debt, but this is one fight that needs to be fought and won for your own good. Its absolutely crucial.

2. Accumulate savings. What does having money saved up have to do with cash flow? Well, just as it will take discipline to produce and live within your budget, it takes discipline to pay yourself first and build up savings, while resisting any temptation to use that money for anything other than emergencies or a planned future purchase of a big-ticket item such as a home, car, or vacation. Most fiscal advisors recommend having someplace between 3 to 12 months of income in a savings account, cds, or money grocery account. That way, in case your income is interrupted for a period of time for any reason, you wont be constrained to addition your personal debt much, or at all.

3. Pay off your course credit cards, mortgage, and installment loans as fast as possible. It should be obvious that if you are sending $2,000 every month to your creditors, then you could be accumulating and investing $24,000 more each year if you didnt have those debts. Thats easy enough to understand. There are a amount of programs and strategies pronto available, designed to help get you out of debt.

Listen, I dont want to go off on too many of the vast tangents that grow out of the concepts Im share-out with you. My fixed is to keep this article simple and straightforward for you. But right now, I can almost hear some of you saying something like this, My CPA/Financial Advisor/Neighbor/Mothers Cousins Veterinarians Assistant says that you shouldnt pay off your mortgage early, or at all, because of the tax deduction you get on the mortgage interest. Because that is such a prevalent piece of advice that many people follow, Ive got two points to make here to offer you another perspective:

Point #1. If that tax tax write-off is so important to you, I know a mortgage broker who will be happy to re-finance your mortgage for you at a higher involvement rate than your current mortgage. Just imagine the tax price reduction you could enjoy with a 15% mortgage interest rate! Yes, Im being sarcastic. I dont expect my email inbox to be filling up any time soon with requests for that deal. Read over that again and think about it.

Point #2. If youre in a 25% marginal tax bracket, then you save $250 in taxes for every $1,000 you spend on interest. If I put $250 on the table in one pile and $1,000 in another pile in front of you and tell you to pick up the pile youd sooner have, which one are you going to choose? This is not a trick question...the answer is obvious. So folks, pay off the mortgage, pay the 25% tax, and keep 75% for you.

I (almost) apologize for my sarcasm, but doesnt that put the idea about keeping your mortgage for a tax synthesis in a different light?

Now, follow some good advice, and go to work to create your personal financial freedom.

.