As emphasized in these post, The essential of building wealth is to Invest Systematically while controlling your expenses. On top of this foundation comes Your financial goal. Its necessary to have a Goal of where would like to be in say 5 or 10 Years.
Too often Financial Goals are in the form of specific amount that one wants as Bank Balance. The problem with this Goal the person is just keen on Earning without looking at the expenses.And many a time , it will lead to frustration and loss of focus.
Personally, I think a better Goal would be to be come “Financially Independent” in a period of say 5,10 or whatever period. “Financial Independence” means that your returns on Investment take care of your Food, Shelter ,Clothing & Other monthly expenses giving leeway to pursue your passionate things in life.
When you have this goal, you would not
-Opt for an apartment with extra-room when two will suffice
-buy the latest mobile, while the one in your pocket is serving your purpose well
-Eat out frequently when you have the Time to prepare your own meal
Instead you would see that
-that your Debt is Melting away
-Investing systematically without worrying about timing the part
- leading a enriched life where you have the freedom to pursue your passion
So, Think about the “Financial Independence” Goal, You would get a very new perspective of Wealth creation that has potential to change your life for Good.
Too often Financial Goals are in the form of specific amount that one wants as Bank Balance. The problem with this Goal the person is just keen on Earning without looking at the expenses.And many a time , it will lead to frustration and loss of focus.
Personally, I think a better Goal would be to be come “Financially Independent” in a period of say 5,10 or whatever period. “Financial Independence” means that your returns on Investment take care of your Food, Shelter ,Clothing & Other monthly expenses giving leeway to pursue your passionate things in life.
When you have this goal, you would not
-Opt for an apartment with extra-room when two will suffice
-buy the latest mobile, while the one in your pocket is serving your purpose well
-Eat out frequently when you have the Time to prepare your own meal
Instead you would see that
-that your Debt is Melting away
-Investing systematically without worrying about timing the part
- leading a enriched life where you have the freedom to pursue your passion
So, Think about the “Financial Independence” Goal, You would get a very new perspective of Wealth creation that has potential to change your life for Good.
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