Rics Financial

Achieving Financial Freedom In 2018

Financial freedom is a luxury most of us do not have. We are enslaved to our jobs that barely keep us afloat. As individuals we can sit back and do absolutely nothing or we can take control and change our thoughts, actions and our financial outcome. The question is how, how do we do these things and maintain the lifestyle we have been accustomed to? The answer is plain and simple, we don’t. We must educate ourselves and stop the bad spending habits we have along with sacrificing our wants, so we can take care of our real needs in life.

To start off, stop applying for more credit cards. The more credit card debt we get into the more we rob Peter to pay Paul. We must stop living beyond our means and act now. Just because you qualified for $30,000.00 auto loan doesn’t mean you truly need an auto loan of that amount. The short- term sacrifice of buying a vehicle that gets you from point A to point B is enough right now. Why pay for all the extra bling when you just can’t afford it? Start paying off your credit cards one by one, and if you have late payments, hire Phoenix Credit Repair to get your accounts in good standing. Then start with the smallest amount balance and pay as much of it as you can afford and so on. Tackle each one this way. The true key here is to stop using your credit cards. Take on the mindset that if you can’t pay cash for it you don’t need it. Lock your credit cards up in your safe or even put them in your freezer. This way you truly have time to think about what you are purchasing when you must take them out of the safe or freezer. You do want to keep your accounts open though, even if you have a zero balance. This helps your credit score. We all know the better or higher your credit score is the less amount of money or interest you pay in the long run.

Impulse buying is buying things you truly do not need but buy them anyway because of the thought you might need that item soon or you feel you must have that it right now. Chances are whatever it is you will not even think about it again once it is not in your sight. For instance, the check-out at the grocery store. Do you think it is just a coincidence that they put all the candy and tabloid magazines there? It is most definitely not. They place these items here so when you are waiting in line you have something to read and then purchase it and then you can finish the article. Another way to save a few dollars is when you go out to eat rather it be fast food or at a restaurant, order water to drink instead of the soda or tea. This is a win win because who doesn’t need to drink more water anyways? Speaking of eating out, try to cook at home more. Eating out is convenient but not necessarily healthy and it is quite expensive. Remember the more you sacrifice now the better off you will be in the long run.

Another way to start transitioning into financial freedom is by monitoring your credit. As stated before the higher your credit score is the better your interest rates will be and the less money you will pay out and make somebody else richer. Go over your credit report with a fine- tooth comb with a professional. These people are there to help you gain financial freedom. You work hard for your money and they want you to have the same benefits as others who have excellent credit and can help you get there. Rather it be inaccurate information that they can get removed by the credit bureaus or perhaps they suggest adding tradelines to help give your credit a boost if you are buying a car or ready to take on a mortgage. Tradelines can even come in handy if you are wanting to refinance a vehicle, mortgage or negotiate better interest rates on your credit cards. The key factor here is timing and credit repair companies are excellent at assisting you strategically through your credit needs to be becoming more financially stable and guiding you to more healthy spending your hard- earned money.

Start taking control now of your future and stop letting your financial institutions get richer by your spending habits. Change is often thought as scary but in this situation change is financial freedom.

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