Ewpple 5 Steps To Financial Freedom
In all the following steps, always set aside a minimum of 20% of your income as monthly savings before spending.
Complete each step before moving to the next.
Step 1
Create A $1,000 Emergency Funds
Use the funds during emergencies instead of using your credit card.
Step 2
Pay Off Your Debts
Stop borrowing new debt.
Instead, start to payoff from the smallest debt amount until all debt is paid.
Step 3
Increase Emergency Funds
Use the 20% monthly savings.
Increase the funds to your annual income amount.
Maintain this amount.
Step 4
Paying Off Mortgage Loan
Next, switch the 20% monthly savings to paying off mortgage loans.
Step 5
Enjoy Lifetime Passive Income
Finally, with emergency funds on hand & debt-free, switch your 20% into the ETF portfolio to generate lifetime passive income.
No comments:
Post a Comment