What is Financial freedom?
So normally people think they are financially independent after they get a good salaried job, they no longer require to be dependent on their parents can afford a pair of jeans, t-shirt for themselves, is it so ?
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Here, I wanna talk about what are the steps you should take from the age of 13 "yes your teenage" to develop the habit of "Saving" "Procuring" and Investing" which I consider the roots for financial freedom and the final step at 17 what should you do then, hence the beginning of financial freedom starts !
The steps
Step 1 :
Saving how can we do that ? when you go to school you get either tiffin from home or money right ? usually morning schools parents don't wake up so early so they give money to you, so here what you can do is that u can save 25% of that money daily to create a huge sum at the end of the year, So if you get Rs. 20 everyday u can save at least 5 each time so it's like 5 x 5 = 25rs a weak and take it to 25 x 30 (52 weeks a year so excluding holidays) gives you Rs.750, but remember you get some gifts from relatives parents on some of the occasions in a year ? It's true u get a lot but here you can do is that save at least 50% and give yourself a target that at the end of the year you'll save this much amount.
#TheProTips
* I advice you avoid eating junk food from canteen or outside school, and eat food like biscuit bread, Idly etc good foods, you'll thank me later.
* You can also reward yourself at the end of the month with anything you wanted from so long or wanted to eat something.
* You can also do your small household work like cleaning home and helping mother with any other though this will make her happy and you never know might get any reward too !! :)
* You can also open a Junior Banking account with any banks. That might give you a feeling of proud and make you popular too that you have a BANK account.
Step 2 :
Procuring i.e., obtain (something), especially with care or effort., what ever you save it is foremost important to save it for the long run so like if u save Rs. 1000/ - a year multiply with 7 gives you 7000 woo ! sounds so much ! but if it doesn't sound so much you have to be more strict and try gaining more. (#Use Pro tips)
Step 3 :
Investing do you think investing starts after age 18 only ? when you make you PAN card get a bank ac after that ? no here investing means self investing the basic of all in,,esting educating yourself. So the money which you save in your piggy bank or the bank you can utilize buying whatever you feel like which will give a sense of pride and make you feel financially freedom.
Though kids fail in it tends to buy things which are not at all essential in life.
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My advice try to purchase nonfiction books like :
- Earn It! By: Cinders MCleod.
- Joseph Had a Little Overcoat. By: Simms Taback.
The Advice
Apart from that you can buy a bi-cycle for yourself which will keep you healthy and make going any place easier.
At this age of 17 you must be in class 12 more mature enough, higher secondary examination would be knocking at your door. Concentrate in exams but remember scoring 99% might blast a bomb of happiness in you but it won't for life time.
End is not yet over :
In this world school marks doesn't give you money but your habit, self discipline might pay you off in the long run.
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Comment below : "Yes" to get the advice on how to get more money ! & if you wanna know what you should do first after jumping into the licence age which is 18 like this blog and comment "The licence age"
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