Financial Stability

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Even though my long term goal is to become financially independent, my bigger goal at the moment or my short term goal is being financially stable. Having that goal in my mind I have started some simple steps to attain it, the steps are as enumerated below,

1. The first step is living below my means , I make sure that my expenses doesn’t exceed my income, to make sure it happens, I am currently allocating 70% of my work income for my expenses. A part of this percentage is allocated to paying off my current debts.

2. My second step is building my security fund; I do this by allocating 10% of my income and depositing it to my savings account.

3. Part of my step 1 which is living below my means is expanding my means , I do this by investing 10% of my salary ( 5% into stock market and Forex trading and 5% into my online businesses, the details of my online businesses I will discuss on other post in the future)

4. The last and personally I think the most important step of my financial journey is my tithing, or giving back, giving to a charity or religious organization I’m involve with. This is most important to me because it gives me a sense of abundance, feeling of having more, at the moment I’m allocating 10% of my monthly income to this step, but my goal is to make it more than 10%.

I hope this step that I’m currently doing can also help you on your journey to financial freedom.

To Your success!!!