Unquestionably, there are seven disciplines you must apply in your current situation to achieve debt-freedom and financial independence, that is, if you really want it badly enough.
1. Generate passive savings.
2. Become an expert of locating resources that you don't have to pay for.
3. Eradicate excess.
4. Collaborate with others.
5. Originate cooperative living and/or shopping arrangements.
6. Eliminate the "middle man".
7. Investigate your personal fundraising option. (To find out if you are eligible for the Personal Fundraising Wealth Building plan, check the information on how to get your Free Proposal provided at the end of this article.)
If you are really serious about reaching your financial goals, you must have a plan and work that plan if you expect to make the best of your present and future financial situation; this is true regardless of whether or not you are trying to keep your head above water and get the creditors off your back or, you want to become a millionaire.
Residual streams of income is one thing, but passive savings is another. To generate a consistent, yet passive savings, all you would need to do is identify and patronize real or virtual stores that give you something in return each time you shop with them. This reward could be in the form of points, a rebate, or contributions to your child's college fund. What you're really after is a monetary reward more so that a free product. Passive savings is exactly that, it's passive. You do your legwork on the front end to make sure that you have identified the businesses that allow you to somehow share in their profits. After that, you remain loyal to them and you will see those streams of passive savings trickling in..
Become an expert of locating resources that you don't have to pay for. Too often, we think that if we get free items it is worthless. One of the keys to your release from financial bondage is your being able to treat everything you have and everything you get with respect and honor.. Be a good steward of your resources and think free first, then work from there. For instance: instead of buying new books, check your local library for books first. You've got the idea, right?
By eradicating excess, we will be able to stop hoarding and start sharing. Many of us have at least 2 to 3 times the food, clothing, household goods, and other items that we need to survive, yet there are still untold numbers of homeless, hungry people (including children). Whether it truly is clothes or shoes or foods or something else, we need to learn how to share our abundance with others willingly right in our own backyard.
Devise living and shopping arrangements that are cooperative in nature. We need to think more about how to leverage resources especially in tough times. Could you share a vehicle and therefore, a car payment? Think about it, you'll be surprised at what options you might come up with.
Eliminate the "middle man" by buying from yourself. What do retailers do? They buy products wholesale, mark them up to secure a profit, and resell to you at a marked up price.. You never see a dime of that profit and in the process you've overpaid for whatever it was you bought in the first place. Buy the personal care items and household goods that you are going to buy anyway, but do it wholesale. Put that money back into your own pockets instead of someone else's.
Personal fundraising is a relatively new concept. It involves looking at other models for you to realize your financial dreams without borrowing money and going into any more debt. Personal fundraising is a model that actually gives you a plan for raising funds for paying bills, saving for or paying tuition for your child's college education, financing a wedding, paying down your mortgage, and so on. Many people may not qualify for the Personal Fundraising Program, but you are welcome to apply for a free proposal to see if you qualify. Instructions on how to get your Free Proposal are provided below.
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