Action Plan to Financial Freedom (Part-1) | Financial

We often dream about financial freedom, we want to and more often talk about becoming financially free. But how many of us actually do something different to achieve this dream? Without a concrete action plan, and clear define road map, no matter how ambitious is the dream, chances of becoming financially free will almost equal to none. Without a clearly define road map to follow, one will soon forget the dream of freedom and go back to live their normal daily life. Action plan can be constant reminder serves to remind a person of his objectives, goal and estimated deadline. Besides, in journey to become financially free, you will want to review your progress against the action plan to see how much progress you have made and how far away you are from your goal.In order to become financial free we need to know what is the definition of financial freedom. Financial freedom being the ultimate goal, of course, before achieving that, we need to know the two pillars supporting the freedom; these are financial stability and financial security. The two pillars are the basic fundamental of being financially free; it is like the foundation of a skyscraper that is built on a strong concrete foundation, in case of financial freedom, it is built on financial stability and security. In short, in order to achieve financial freedom, we must first achieve financial stability and then financial security.Definition of Financial Stability Financial stability is achieved when one person is able to live his life without income for 6 months or more. Wealth is measured by time instead of amount of money you have. Take the example of a fashion designer whose monthly income of 10,000 with monthly expense of 8,000 and a school teacher who only earns 2,000 with monthly expense of 500. Who do you think live a more stable financial? The answer is the school teacher. If both person lose their job, the fashion designer who lives a high maintenance life style would not live through a month to go bankrupt, but for the school teacher, with a saving of 1500 per month in minimum, she can easily live for another 3 months without active income, this provide her ample of time to look for new source of income. In the first step in our road path to become financially free, we need to make sure we are financial stable before we can talk about financial freedom.Action Plan to Financial Stability: Now think. If you have less than 6 months to go into bankruptcy without a job, you need to start doing something. Below are some typical scenarios:
If you are living on a mountain of credit card debt, and you can’t seem to reduce the owing balance each and every month, you have to do something different. From you credit card bill, list out items that you don’t need to spend. Without this desire items, it is easier to pay off the credit card.
When you can’t seems to save even though you are not on any retail/credit card debt. This happens when you pay yourself last. In order to save, you need to pay yourself first. Every month when you get your paycheck, put aside a percentage into saving first and spend the difference. An average person will do the opposite that’s why they can never save, and the worse is they don’t even know where the money goes.
In the action plan, one needs to state how much money to allocate in each month to clear off debts with a deadline. Only after all accumulated debts are cleared off, one can start saving for financial stability. Subsequent action plan needs to find out total expense of one self. Since financial stability is defined to be ones ability to live through 6 months without any income before going into bankruptcy, thus the amount of money to achieve financial stability will be total expense times 6 (months), let us call it Financial Stability Amount Requirement FSAR. Next, state how much money you committed to save every month, and let’s call it monthly saving commitment MSC. With all these figures: FSAR and MSC, one can easily find out how long he/she needs to achieve financial stability. Simply divide FSAR by MSC. The result of calculation is the duration (in month) required to achieve financial stability, one will know exactly the date he/she obliges to achieve financial stability. Now with the action plan in place, a committed and disciplined person will only have to follow it and ultimately achieve it.

Simple Ways to Effectively Market Online: What Is Online Marketing and How to Make Money From It | Online marketing

If you want to have a successful online business, you need to know what is online marketing and how to make money from it. Online marketing is an integral part of any online business and a must for it to become successful. Knowledge about this can help you make it big online and become successful in it. The internet is expanding everyday, reaching millions of people in one second. The figures will continue to rise up in the coming years. With this information, it only makes sense that internet marketing really provides great opportunities to people who wish to earn money online. Here is how you can make it big through internet marketing:• Start marketing with a well-designed website – one of the answers to what is online marketing and how to make money from it is to market online using a website that is well-designed. The layout of your website, the background you will use, the font, font size, and font color of your website all affect how marketable your business will become. You need to design your website carefully to entice more prospects to visit your website, and to make it more marketable to other people as well. Aside from the aesthetic side, you also need to design carefully the content of your website. Google ranks web pages according to keywords. Make sure that your website has enough keywords without overstuffing.• Using social media – nowadays, one of the most visited websites are social networking sites. According to some studies, most of the time people spend on the internet they actually spend interacting in different social networking site accounts that they have. This is a great opportunity for you to start marketing online as you can easily reach most of the internet traffic in one click. But make sure that you post relevant and important status updates to make people more interested in you.• Update your website – online marketing does not mean you have to keep on promoting alone. You will also have to update your website often to keep it relevant and attract more people to visit it. You will want to talk about relevant and current events. No one will want to visit your website if you fail to keep it updated and relevant.These are just some ways to answer what is online marketing and how to make money from it. Remember these methods to help promote your business better and become successful not just monetarily but in developing loyal clients as well.


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