What to do to be Financially Free? Raise Your Income Vs Adjust Your Spending Habits

This is the hardest battle there is based on the advice given by financial experts on how to be financially free.

Money experts point out that spending habits are to blame as a hindrance to financial freedom.

Is spending habits a problem for low income earners?

I beg to disagree on behalf of minimum wage earners.

When you’re earning low, even if you save the last penny you have from your salary and reach a million mark when you’re 60 years old, you will not attain financial freedom because by the time you’re 60, prices of basic necessities have gone up thus limiting your million to buy the things that you want or even need.

The Formula 

According to Rich Dad Poor Dad book, increasing your income is the best way to live and be financially free.

And the best type of money-making machine is the ones that require less of your physical presence.

         "What is the work that keeps working for you after you've completed it?"
                                                                                                James Clear

That is why investing is one of the ways I really wanted to grow my money with, because it takes less of your time in the long run, given, you already learned everything about it.

Spending Habits and Budget

Budgeting and living within your means is still important, but exerting too much time on these is a big waste of time.

So instead of trying to figure out ways to budget and cut off every expense that you think is unnecessary use all those time to figure out the best way to earn more money.

Another money-making idea...

A lot of people are swearing by being an entrepreneur if that is the path that suits your personality best.

Many graduates complain that it is difficult

 to get a job these days despite having a diploma.

The solution is to create your own job

 and create jobs for others.

Be an entrepreneur! – Manny Villar

The return of investment in creating your business is huge and relatively fast given you have the right market for your business.

Creating a business is one of the gateway to be financially free and anyone who is blessed with the character of an entrepreneur should try it out.

One Last Thing: Live Your Life While Making Big Goals

Before you even jump to your first investment or create a business of your own, you need some sort or capital to start with while living your life.

Living life not as financially free as you would like it to be but just decent enough not to miss out on the simple things that you like.

Maybe this is the part where money experts points out that poor people have a problem with spending habits.

They see a small part of your life living it the way we want it as a big miss of opportunity for you to be making money on investing or running your business.

I think balance is the key and you will not find balance when you are just barely scraping by. More evidently with minimum wage earners like us.

Which will leads me to my next point.

In my case, I chose the path of employment which offers more than a minimum wage

and it really helps to live my life like now as in as the moment happens,

it's not as grand as my goals are but still it enables me not to limit myself and enjoy life as it happens while achieving my big goals.

it's so nice to get away with the phrase…

          “I’ll do that when I get rich”

wherein I can do it now actually...

On finding employment:

You don’t have to be an expert on to something to achieve that, there are BPO’s who offers above minimum wage that requires basic communication skills* and skills are all attainable with practice.

(*written skills it doesn’t always have to be voice skills LOL Fact: I always flunk out of interviews for voice account)

·         Read: Apply on Best Company Last

Saving is Still a Priority 

Saving money to be used for sort of capital for investing or business or whatever you chose is still a number one priority along with tithes and living life as the moment happens.

If you prioritize these three, I guess you will not feel guilty about enjoying the bits of your life and you'll feel positive that a great future will come ahead of you.

Final Thoughts

That is one thing I think that is very important for everyone who wants financial freedom.

Do not forget to live the present or sacrifice the present for the sake of the future.

Find that balance and practice those skills.

Always remember that you can build any skills no matter how much you’re not good at anything.

And living your life YOLO doesn't always have to sacrifice your big goals for the future.

This is not the issue of spending habits but finding a good foundation to prioritize three points in your life.

• Savings to be used to make more money (investing or business)
• Tithes
• Enjoy life as it happens

A good foundation for me means is to get out of the minimum wage so you don't have to juggle between living your life now or focus on the future.

Follow my Instagram and Facebook account