3 Simple Steps to Financial Freedom
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- Category: All Post, Entrepreneurship/Business, Motivation
Money in your hand is like sand in your hand if you don’t know how to manage it.
Will your financial habits now affect you greatly in the future? Yes! Here are three simple steps to get you on top of your financial game!
1. Financial Awareness: Become aware of where you are financially weak.
2. Financial Literacy: Get educated on ways to become strong in those areas.
3. Financially Fit: Practice what your are learning repeatedly and your financial situation will change.
Example: Stan is honest with himself and realizes he spends $500 – $1,000 every month on clothing and having a good time on the weekend. Stan realizes that he often has less than $500 in his checking account throughout the month.
Stan’s “Nerdy” brother Jay always has money even though they both work at the same department store. Stan asks Jay how come he always has money.
Jay explains that he never spends outside of his budget. And his clothing and entertainment budget is 5% of his weekly check and sometimes he doesn’t even spend it.
Stan takes that financial literacy and decides to not by new clothing or party for one year. He saves $8,000. He then takes that $8,000 and starts a online store, selling clothing to the weekend party people.
He’s somewhat an expert with that demographic because that’s what he’s into, so he knows how to market to them. He creates a marketing strategy. He runs several promotions with club promoters, advertising his brand.
Stan is now earning $15,000 -$25,000 per month selling clothing and event access to people that have his old spending habits. He’s making this money almost on auto pilot with less than 50 clients. He now stays with a minimum of $50,000 in his personal checking account.
Stan is now financially fit. And he even hired his brother Jay as his advisor. Now they both are financially free.
For 23 more simple ideas like this and 8 ways to market them and get customers, be sure to read my book Launch and Stand Out.
There’s a digital version available at: www.launchandstandout.com