Tips On Financial Freedom [Part 2/3]

Many of the challenges that a lot of people face revolve around finance. You will be surprised that when the money issue is solved, a lot of problems will be solved too. This is why I believe that gaining financial freedom is very paramount to the success of everyone. By achieving financial freedom, there are many other things that will naturally fall into place. We have taken a look at tips to achieve financial freedom from the previous episode and we shall take the second part here.

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1. Do not depend on only one source of income

Living your life depending on only one source for all your financial needs is very risky. Even if you are too careful about your principal source of income, you cannot rule out the infinite possibilities of having challenges in that particular source of income, so you have to guard against it by extending your income to many sources. To attain a level of financial freedom, you should try to free yourself from having just one source of income. You have to look for other sources and alternate incomes. This will not only give you the required buoyancy that you need, but it also gives you a form of financial security.

You will agree with me that there are some challenges that will not give you prior notice for you to prepare for them before they come, so you should get ready on time and be well prepared. If you have other sources of income, you will get more finances to solve your needs and it will also lessen the weight you have to place on that one income. There are some people that got a secondary source of income to use as a side-hustles, but in due course, the side-hustles grew and even became their main hustles.

The story of my friend proves the above point. Before the covid 19 global lockdown, a friend of mind started a particular business just as a side-hustle of making liquid soaps, hand sanitizers, cleaning/washing liquids, etc to support his main line of work. It did not seem to be lucrative at that time but he kept at it. A few months after, the world was his by covid and the demand for hand sanitizers became massive. What he started as just a side-hustle became the major of his business. At a point, the lockdown affected his other business but he did not feel it because his alternate business (the hand sanitizer production) was there to support him and he made a lot of fortune from it. If he had not started the secondary business, by the time the world went into lockdown, he would be out of business.

2. When rising, raise others too

This point is easily neglected by many and the need for it has not been emphasized. The truth is that if you are the only one that is financial able in your whole neighbourhood, then a lot of pressure will be on you. But if you are able to raise as many as you can, not only will the pressure be reduced, but those people might be who will help you to even grow bigger in your own finances. As you are rising financially, also try to raise others to rise with you. Trust me, it is the relationship you build with people today that will be regarded as "connection" tomorrow.

A friend once made a humorous remark to someone which I overheard, and I saw truism in the statement. He said:

Try to drop updates for your hommies too. Remember, a car does not make a convoy, so you need people.

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These words made me to realise that there is a level of financial freedom you may not be able to attain alone but will be attainable with the help and input of others. So when you cross a particular level, do not burn the bridges against those that are coming after you, because it may be those people that will help you back on your feet tomorrow. The person you helped on your way out today, may be the person that will be in the position to help you when you are coming in. This is the reason at any point you are in your life, try to put others into consideration. Remember this popular quote as I conclude with it:

We rise by lifting others.

Thanks for reading