As nation is moving towards Atmanirbhar concept to tackle against Covid-19, have you ever thought of becoming Atmanirbhar financially to tackle all your future needs and fulfil the required goals?
What is Financial Freedom?
You might have heard about Financial Planning or Financial Freedom Planning? What does it mean? When can one claim that he/she is financially Atmanirbhar?
Simply put you need to build enough assets which can give you regular cash flows for your recurring expenses and cash for your future goals.
One will need to first analyse his/her current financial position and also the requirement for all future goals:-
How to achieve Financial Freedom?
It’s like a goal to achieve financial freedom. In simple terms, financial freedom is to grow a nest egg that will allow one to retire or to pursue any career of one’s choice with incurring any debt.
But, many of us fail to achieve this. We end up with debt, emergencies, and unexpected events such the current pandemic, which all together ruins one’s savings or achievement of goals.
So therefore, it is very crucial to start preparing for one’s financial freedom by following the steps to financial planning.
While following the steps to achieve financial freedom, it is very important to set the different goals of one’s life and prioritize among them. It is very important to set the goals with a time line to achieve them in order to avoid unnecessary shortage of funds/borrowing money and incurring debts. The different types of investment planning goals include:-
The Bottom Line:-
Achieving financial freedom is a very important aspect of one’s life and a financial plan is an exceptionally valuable tool for your life today and tomorrow. Financial freedom will let you make life decisions in a stressed free manner because you will be prepared financially.
