Many people are asking when the recession is going to be over so that they can begin working on building wealth or gaining financial freedom again. However, there are those who claim that the recession is not going to end, because what we’re experiencing is not a recession, but a transition into a new kind of economy. So who is right and how can you plan for the future and make sure that you achieve financial freedom for yourself and for your family?
In this article, we’ll be looking at some strategies for taking control of your financial life and achieving financial freedom sooner instead of later…
Financial Freedom is Your Responsibility
We might not have much control over the economy of the nation or the world, but there’s a lot that we can do for our personal economy. However, the more focused you are on what’s happening in the national or world economy, the less energy you have to focus on your personal finances.
Many people who are consistently thriving in spite of the economy are also cultivating a degree of “selective ignorance” when it comes to what’s happening in the economy. This is not to say that you become a hermit and refuse to acknowledge the reality of what’s happening around you.
However, much of what you’re hearing on the news is due to the fact that bad news sells, and it probably always will. This has little to do with recessions and much to do with the fact that people are naturally drawn towards drama and, sadly, towards things which give them excuses for not taking charge of their life.
The more you listen to these things, the more it will crush your motivation to act in your own best interest when it comes to achieving financial freedom. Focus instead on the things which you can control, and let the rest of the world worry about itself.
Start Doing Something Right Now
Many of us never achieve financial freedom because we never get started. We assume that we need gobs of money for investing and for paying off debt. However, achieving financial freedom is more about your consistent habits. You can start forming the habits of good financial management right now, even if you don’t have a lot of money to manage.
You can start by putting a dollar a week into reserve or an account for future investing. Sure, it’s not much money, but the point is to build the habit during hard times, so that when the times of abundance come again, you will already have some good money habits to spur you on towards achieving financial freedom.