HOW DO I START MY JOURNEY TO FINANCIAL FREEDOM?

I've been employed in the last 25 years and I haven't saved much for my future...

I want to get out of the rat-race

I want to start earning passive income ..., I want to make money work for me and not  the other way around. 

How to do it....

• STEP 1. Have a FINANCIAL CHECK UP by preparing a monthly statement of income and expenses. Know your cashflow - that's INFLOW AND OUTFLOW of cash......  Next,  prepare your statement of assets and liabilities to determine your net worth. Analyze your current financial status with these statements. NOW, PREPARE YOUR BUDGET....can be weekly, monthly, annual budget... List down expenses you can live without or deny yourself on things that you can live without like coffee shops, junk food, ATM transaction fees, magazines, eating out, etc... exclude from your BUDGET. You'll realize how much you can save if you remove these..
• STEP 2. INCREASING CASHFLOW as your focus. LIST DOWN YOUR FINANCIAL DREAMS THEN LIST DOWN THE THINGS YOU NEED TO DO TO INCREASE YOUR CASHFLOW AND BE ABLE TO FULFILL YOUR DREAMS. Be very very specific example: By end December this year, I must be able to pay all my credit card debts..., By mid next year, my _____  business should be in full operation. I will earn additional P50,000 a month starting January 20__ .   Maybe TOP 10 DREAMS is best to focus on.  This LIST WILL KEEP YOU GOING. I look at mine everyday and PRAY OVER IT. Ask for guidance from the Lord.  Do not stop thinking of ways to increase your cashflow...

  STEP 3. ACT! Be disciplined. Work towards your goal/plan. Implement your financial check up. My wallet has partitions and money is segregated for food, transpo, kids allowance, etc... If I do not do this..I will just keep spending... Its not easy but its rewarding to see that every month you are able to save a certain amount... that extra amount, I use it to Pay off my debts..

 STEP 4. GET OUT OUT DEBT. May take YEARS! But we just have to accept that... Avoid debts/stop borrowing.. Start paying off the smallest one. No matter how it takes, if you need to earn extra P5K to P10K on top of your usual take home to pay off your debts, we just got to do it.

STEP 5. CREATE AN EMERGENCY FUND.Usually 3-6 mos. This is to prepare you when you start investing.... or if you have invested your money, you're sure not to touch it/sell it/liquidate it in case of emergency, instead you use the emergency fund.

STEP 6. GET SHORT AND LONG TERM HEALTH INSURANCE NOW! To prevent you from incurring more debts or losing your savings in case you get sick.

STEP 7. GET A LIFE INSURANCE. PROTECT YOUR ASSETS get non-life insurance as well....Your assets are your LEGACY to your kids or loved ones.  

STEP 8. DO ALL THE ABOVE BEFORE INVESTING. INVESTING HAS RISKS....SELECT THE BEST INVESTMENT OPTION DEPENDING ON YOUR FINANCIAL PLAN AND YOUR RISK APPETITE....  Make money work for you when retirement age comes...

Hope this helps.. If you need a mentor or a financial coach to guide you through F0R FREE, our team conducts free FINANCIAL COACHING Contact  us for details  at mtcm.deleon@gmail.com.