Financial Resource

Steps to financial freedom are most effective if they are many, small and regular but most people try to approach financial freedom as might go at dieting. My motto in relation to both is “inch by inch, it’s a cynch, whereas yard by yard, it’s really hard”.

The best book I’ve ever come across on the subject of taking small and simple steps to financial freedom is “The Slight Edge” by Jeff Olsen. You can choose to put the slight edge to work in either positive or a negative ways in life. One way I’ve put it to work positively was by giving away my TV two years ago and instead watching, listening to and reading powerful personal development material on a daily basis. A second thing that I’ve made a daily habit is to do Tony Robbins’ “Hour of Power” or at least “Thirty Minutes To Thrive” every morning after breakfast. In both cases, I didn’t notice the difference for the first few weeks, but after 6 months – what a change in the external circumstances of my life! Better relationships, a more positive mental attitude and more money in the bank just to name a few.

This explains one of the reasons why people find it difficult to take slight edge steps to financial freedom – there’s no instant gratification. Perhaps one of the best examples covered in the book is the power of compound interest or what Einstein called “The 8th Wonder Of The World”. By investing 10% of everything you earn at say 5% compound interest (yes, you can do it the current climate), financial freedom becomes highly achievable. Set up a Financial Freedom Account (FFA) and put the power of compound interest to work as soon as possible – time IS on your side, however late in the day you think it might be!

Another of the powerful slight edge steps to financial freedom that I’ve taken is to do a “wealth workout” religiously once a week . Calling it an income and expenditure analysis just doesn’t trigger the same positive associations somehow! Done routinely and habitually for the last 6 months (key slight edge principles), the impact has been dramatic. It’s all about conditioning yourself for success, just as a top athlete does.

List ten of your daily habits and five of your weekly habits – is the slight edge at work in a positive or negative way in your life? Add to the positive steps and cut down or better still eliminate the negative steps. Once you do something for 21 days consecutively, it starts to become a habit that’s difficult to break. Successful people simply make a habit of doing the uncomfortable until it becomes comfortable.

In order to secure freedom from the slavery of having to trade your limited and valuable time for money (after all, time is the truly finite resource in life), you must take small, simple and regular steps to financial freedom. Rinse and repeat “inch by inch it’s a synch…”

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