๐ฉ๐ปโ๐Today we will discuss the stages you go through to reach freedom and how you can achieve it with awesome thinking models.
The journey to financial freedom includes seven stages.
๐ฉ๐ปโ๐ผ1. Clarity This is the stage where you are clear about your current financial position and where you want to be.
๐ฉ๐ปโ๐ป2. Self-sufficiency This is the stage where you can bear all your expenses by yourself. You are not dependent on anyone for your survival. This also means you earn enough to sustain your expenses.
๐๐ปโโ๏ธ3. Breathing room This is the stage where you have saved enough to sustain yourself for a couple of months, even if you lose your source of income right now.
๐โโ๏ธ4. Stability This is the stage where you have paid off all your debts and you also have a saving to sustain you for at least 6 months in advance.
๐น5. Flexibility This is the stage where you have saved enough money to sustain yourself for two years in advance.
๐ท6. Financial independence This is the stage where your money earns more for you. Itโs when you have enough investments and savings that the return you get is enough to sustain your expenses without working. At this point, you work on something because itโs your hobby, and not to earn money.
โ๏ธ7. Abundant wealth This is the stage where you have accumulated so much money that you would not be able to spend all in your lifetime.
๐But how do you progress through these stages and achieve financial freedom? Here are some awesome thinking models you can use to head towards financial freedom.
1. Time is more valuable than money. 2. Compounding can help you achieve it earlier 3. Make money with a side business 4. Learn to sell stuff
๐As it should be your ultimate financial goal, it is never enough to talk about achieving financial freedom. I wish you luck, dear traders.๐
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