Financial Freedom Can Be Achieved By Disciplined

Financial Freedom can be achieved by disciplined & consistent saving and investing over a longer period of time. Saving provides financial security for life’s uncertainties and increases feelings of security and peace of mind. Once an adequate emergency fund is established, savings can also provide the tools for higher-yielding investments such as stocks, bonds, and mutual funds. Saving money requires a lot of discipline. However, with firm determination and setting financial goals, it is not a difficult habit to adopt. The best way to be disciplined when it comes to saving is to adopt a budgeting strategy. The most popular method of budgeting is the 50/30/20 method. Here 50% of your income is spent on needs (such as rent, food, loans etc), 30% is spent on wants (entertainment and leisure) and 20% is saved. Starting as early as possible is also another important factor to achieve financial freedom. This is because you can start the process of compounding early so you can reap more benefits compared to someone who starts late.