Getting financially stable is doable and can be achieved. You just need the right attitude and some time to get the freedom you deserve. Millions of Canadian households are getting crunched. More than swine flu or SARS, its this disease the government needs to focus. But that would never happen because of the special interest groups running the establishment. Its up to us, consumers, to help out each other. If you want financial freedom then this is for you.
Read loudly: Yes I can !
It is imperative to recognize the reasons of the current mess started in the western world. It is greed, greed and greed!
Just a disclaimer that I am not a financial advisor but received seriously effective tips from some wise people and thought this might be helpful to many in the current market conditions. Follow these and you will be free shortly.
1. Be Content: and happiness will follow
People in pursuit of comfort increase the necessities of life so much that a drop becomes a sea. Hoarding and shopping become a disease. People are ready and willing to stand in long lines with a slight drop of a commodity cost. Just walk around your home and look at the things you have not used in ages.
2. Shop only for what you need
Make a list of things you really need to buy and write them on paper. DO NOT go shopping without this list. While shopping stick to this list, there might be lot of tempting prices on the way but train your self to treat them as distractions to your freedom.
3. Pay Cash
Try this next time. Compare the feeling that you really “feel like buying” something versus the feeling you get while buying on credit. Purchasing on credit is like buying free until we get the invoice. The good thing is you will only buy thing which you can pay for today. Beware that during such times crimes increase so be careful as not to carry too much cash.
4. Pull the plug
Make it a goal to cut the credit cards and recycle them to something useful. Most likely even the material of this evilness is useless. Start by paying off the high-interest cards first. Depending on how deep your credit, you will not be able to come out overnight. The way the system works here, unfortunately, you will need a credit card to be credit worthy. Hold onto one low interest card and payoff before the payment date.
5. Invest
Have extra money? Investment is all about buying low and selling high. Find deals and deals are happening all over. In real estate for example March and April had a huge spike in activity in GTA. Read here some of the reasons of this sales activity. To be financially successful in the future, you need to sow the seeds of investment now. Feel free to contact me for any of your real estate investment needs.
