4 Rules for Financial Freedom

How to take control of your finances.You can take control of your finances. No matter how much money you have coming in or going out each month, it is possible to set yourself up for greater financial success and freedom in the future.These four rules help me build more and more financial freedom every single day, week, month, and year. It’s all about understanding your finances on a basic level and sticking to a plan. Develop a strategy that works for you and that fits the lifestyle you’re living. Be a little aspirational where possible but build a foundation first and start with these four rules.Basic financial independence starts with making a budget. You need to know what money you have coming in every month and what money you have going out. What’s your income? What are your expenses? These are the most basic questions you have to ask yourself.Make a budget that represents your life.Income and expenses look different to different people. It’s important to make a budget that represents your life. I have a spreadsheet that tracks monthly, quarterly, and annual sources of income and expenses. It’s dynamic and I use Google Sheets so I can access it anywhere.Things to include in your expenses:Rent/MortgageBills/UtilitiesAverage Grocery ExpensesAverage Gas (Car) ExpensesAny Subscriptions (i.e. Streaming, Food, Fitness)Outstanding Debt/LoansThese are very common items to account for in your budget. Other items might occur less frequently, such as insurance payments, tax payments, maybe you see an uptick in shopping around the holiday months, vacation travel, childcare expenses, and so on.What about your income?If you have money coming in, make sure it’s properly represented in your budget. Do you have a set salary or are you paid hourly? Do the hours you work vary or are you paid on commission or in another non…