National Financial Freedom Day is observed on July 1 every year and the holiday aims to raise awareness about financial freedom. Personal finance is the financial management performed by an individual or family unit. It involves budgeting, saving, and spending money. Being financially free doesn’t need to be challenging. You can examine the following:
1.) Having your cash flow in check
2.) Leveraging other people’s money (investing in real estate or an Amazon store)
3.) Increasing your financial literacy
HOW TO OBSERVE NATIONAL FINANCIAL FREEDOM DAY
Understand what financial freedom means to you. Before you can start planning for financial freedom, you have to understand what that would look like for you. It is a fundamental first step to achieving a solid plan.
Gather resources. Once you figure out your financial goals, gather resources. This will help you keep your goals and plans in place.
Begin investing. A common stepping stone toward financial freedom is investing. Start your journey to financial freedom by researching and investing. Working with Core Bank to manage investments is helpful because we focus on delivering state-of-the-art asset allocation models by utilizing institutional index funds for our clients.
Becoming financially free involves paying off outstanding debt or reducing loan costs, building a safety net of savings, and creating passive income sources. This may look slightly different from person to person; some may want to retire early, and others may want to travel freely, but many people across the globe aim to have financial freedom.
For one to achieve financial freedom, one must organize their current finances and plan. Organizing expenses and debts is very important — it enables you to start saving your money and not depend on a fixed income every month. This can also allow you to live the lifestyle you have always wanted.