Learn financial freedom rule in your 20s

Learn financial freedom rule in your 20s

 Hello, friend. Today we are going to discuss 

• What is financial freedom? 
• How do you cut down on your experience? 
• How to increase your productivity?
• How to build a good credit score
• How do you get good financial knowledge?
• How do we balance our health, wealth, and time commitments? 
• What do you have now?
• What does "young age" mean? 
• What does a job mean in your 20s?
• investment and skill enhancement
• Conclusion

 What is financial freedom? 

Financial freedom is defined as freedom from debt, which is money-related. Freedom means free.

You become financially free when you do not rely on money.

Ramu is a farmer. He has around 20 acres of land from which he gets around 2 lakh rupees in his agricultural income. He gets around 30 thousand on the lease and gets 60 thousand rupees per month as rental income.

Ramu cultivates everything on his land as a basic thing. He did not spend a penny on food, but you have to wonder if he wanted a chicken lollipop. He must buy it, but no, he can prepare those things at home. Some products are not available. He bought that product his expenses never exceeded 5000 per month. 

He spent money on health insurance, a SIP in a mutual fund, and an ETF.

Why do you not invest in stocks?

I love sleeping, and I do not want to increase my BP, but yes, 

If I get some brilliant idea and get to meet some founder businessman, then I can buy, but that has not happened yet. So I did not invest. 

I never close my mind to anything. I can take the loss, but not against my health. I will invest money in my friend's business. I love those things, and yes, I also love to sleep and meditate in a quiet place. I think this is called financial freedom.

How do you manage your 20s and become so productive?

After passing my graduation, I also found a puzzled person searching for a job or doing their passion. I found that if you want to live in this world, you have to earn money. For a large number of people on Instagram or any other social media platform, You will find that they choose their passion and success, but I am a realistic person. I know it only happens 10 times out of 1, so I choose my passion second to earning money.

So I do the job. You can get 15k–20k at the beginning of your career as a graduate. If you improve your skills, then only you can reach a 30k salary. If you were wise, you would develop skills that are in high demand, but few people do, and your salary would skyrocket. As you may know, a lot of things happened in physical form in 2000, but now in 2022, most things happen online. If you do any courses that upgrade you, that can give you a good salary hike. At the same time, you have to protect your attention. Nowadays, attention is a big wealth for humans.

How can you boost your productivity?

Productivity is directly proportional to attention, so increase your attention time and you will automatically become more productive over time.

These steps can help you

1. Mind Your Business
2. Write down what to do now and what to do later.
3. Schedule your work.
4. Write down 5 good things about anything you do for more than 5 minutes.
5. You can't write five good things in five minutes, so don't try it again.
6. Read your own writing every Sunday and work on your growth.
7. Reading comprehension and writing can teach you anything.
8. Use your brain and feel every moment of life.
9. Every day, try to use your five senses by doing exercise or meditation.
10. Stay foolish Every night, you write your good and bad things in a diary.
11. Meditation for 1 minute before work
12. Build something selflessly and give something selflessly.
13. Find a positive thing in every negative thing.

 

BHAI By doing these things, I have increased my productivity.

                          How do you cut your expenses?

Your expenses will decrease when you get closer to nature.

Natural and homemade things cost you less, but artificial, and unhealthy things cost you the most.

You never have to cut your expenses if you follow your own mind without getting caught up in marketing. You eventually spend less.

Considering that oats are healthy, this is a marketing trap. Always make a list before heading to the market. It really helps.

Ask me a product name and I will tell you a much better alternative that will be healthy and cost you very little.

I give him potato chips, fries, pizza, and Horlicks.

RAMA SAID, First of all, these are not healthy at all. But homemade things are healthier than store-bought because they are frozen with harmful chemicals. They are fried in palmolein oil, but if you use sunflower oil, it becomes better than store-bought.

I asked Ramu to tell me how it could be cheap or healthy.

 

If you calculate it, you will find it surprisingly cheap, and if you ask me, these things are healthy because they are likely fresh and prepared by your mother.

Just search for "pizza, potato fries" on YouTube and you'll find out how to make these things.

Horlicks Alternatively, you could use sattu, which is cheap and tasty when mixed with milk and jugglery.

If you still haven't found your answer, you can leave a comment at any moment.

To cut down on your expenses, reduce your out-eating and your spending will fall.

 

         How can we grow with loan money? 

Ramu said that however much you save, you can grow, but risk-takers and rich people always make money from people's money. Making money means taking loans and creating more wealth. Rich people love loans. 

Rich people also invest in their skills by attending different seminars that help them to develop new abilities. They love to network with other wealthy individuals who can provide opportunities for them to grow. That's why I attended different seminars. As a result of my research, I have come to realize that real estate can be an excellent source of income for me. So I want to buy a home, but for that, I require a lot of cash. When I look at my pocket, I do not have enough money, so I take a step back. I also don't have a high credit rating to get a loan. 

As you know, to get a loan, you must have a good credit score.

I decided to build a stellar credit score. 

I plan to get a credit card to improve my credit score. so I got a credit card and followed the rules of the credit card within one year, I built a stellar credit score of 750+, which is quite high for me. I learned a new thing. If it is your desire to grow fast, you must know how to use a credit card and loan.

After 3 years, I bought a 2 BHK home. I had put down 20 lakh in the city, but I only put down 5 lakh here, and the bank gave me 15 lakh. The home generated 15 thousand. At the start, my EMI was 25000 per month for 10 years, which means I had to pay 10000 per month. Even though I bought a home, I stayed at a hostel, which cost me around Rs. 8000 per month with food.

After two years, I sold the house for 35 lakh, making a profit of around 14 lakh. This is because I paid a significant amount to the broker, who was always loyal to me and always tried to give me a good deal.

As you know, the profit from selling a property is taxable until you reinvest that money into a property. I decided to reinvest that amount into a new house again, but this time in a very prestigious neighborhood. The house cost me 35 lakhs. The rent was 30K and The EMI was 19,200 for 15 years. Which means the home pays me 10,000 rupees.

I was delighted that my learning had worked well as my investment was reduced and healthy cash flow was generated.

When you take a loan from the bank for the second time after your first loan, the bank offers you no downpayment option.

After 3 years, I sold that property for 80 lakhs with a net profit of 40 lakhs. As I told you, I pay my agent/broker well. This property's rate is high because it has a positive cash flow after paying EMI.

After this profit, I bought 3 2BHK houses at 20 lakh each as well as a 5-acre plot of land for 10 lakh in my village.

I got around 60K in rent. Therefore, I quit my job and started my own real estate business by flipping houses and researching new houses to buy to increase my money and my rent.

 

The secret that no one will tell you.

I always take knowledgeable people for dinner or lunch.

I asked them about finance and the most reliable investment advice. I also requested some books on the subject and was advised to read them seven times and underline the most touching lines. It would help me understand those matters more deeply.

These are the secrets that no one will tell you.

One golden rule to remember

"When you serve others for free,

God will serve you."

Rama said that the deeper you dig and the more you find, the more you are likely to discover that you need to balance 3 key things:

1. Health

2. Wealth 

3. Time

When health is part of one's life, if your health isn't in order, then everything else becomes hell, so I follow yoga for health.

Every day, I begin with a walk, followed by pranayam and bhastrika, kapalbhati, anulam bilam, and suryanamaskar.

I also do jalniti now, which is very beneficial. I also eat amla murba in the morning and Triphala at night.

I never allow anyone to interrupt my morning routine. I also like to feed my brain by reading a well-written book in the morning. I also do meditation to try and gain a deeper understanding of things.

In the beginning, I had to invest my money in

1. My skill development
2. Asset

Investing money in my skills gives me a better return than investing in an asset that gives me money. I can fulfill my needs.

To manage my time, I always write down my work and goals for the next day so that I can achieve what I am looking for. As of now, I am learning to code, which eases my work. I believe you should always upgrade your knowledge and skills, or else you will be left behind with time.

What would you do if you lost everything you had?

 

I'm upset for a short while, but I have to rebuild it again. Therefore, for one month I will keep track of my monthly spending and then manage my daily expenses. This will enable me to get a handle on my spending. I have to do this until I am back to normal.

As I have a high reputation, I can get loans from banks and buy some suitable real estate. If I do not get any money from the bank, I have to sell my idea to a money lender or borrower to be my business partner. I have to calculate what I have now and how I can make the best use of it. In my life, I have a theory that I will chase money, but not blindly because 90% of people who follow money blindly fail to achieve anything.

 

What does "young age" mean?

When you are young, you have a lot of power and unlimited possibilities, so you should work hard to accomplish whatever you want. It makes no difference how much money or experience you gain from your efforts. the real thing will be what you experience.

What does a job mean in your twenties?

 A job means you have to work hard to get paid for your work.

Working gives you money, but you have to learn to do things with it. You should not be a slave to money. I believe money is a tool that will assist you in reaching your goal.

Many people think we can't accomplish much by working hard at our jobs. However, I think this is partially true. However, we need to change our thinking patterns to make progress. Slow and steady wins the race, but it is only true for 1% of the population. At this age, make sure you take risks when you have capital and experience, but before you should make connections with good people.

What are the three most significant things at this age 

As far as I am aware,

1. Pocket money
2. Skill development
3. Investment

At the beginning of our 20s, we were unemployed and did not earn much money. I was also doing some private tutoring on the side, earning about 3,000 per month at that time. So it is wise to use that money as minimally as possible. You can invest or spend that money to enhance different skills, such as learning how to write a successful article or influence your friends. So, spend your pocket money wisely and save your money to learn new skills.

When you learn those skills, you apply them in the real world. I'm learning how to refer to my friend. As I have mastered the art of designing, I offer free designs to my friends.

Afterward, I was compensated for the design, which led me to earn money.

So we should save money and invest it in our skills to increase our skills. When you get good money from your skills, you can invest the money to grow and learn a new skill.

One last tip:

Financial freedom It is not about making a lot of money if you are so worthy or skilled that you can help others in many ways. You do not need money if you have skills and help others.

Things to remember

• Be a positive person and learn relevant skills.
• Help others if you can.
• Run away from things that consume your time and attention.
• Follow Ayurveda for your health.
• Stay hungry, stay foolish, and record your discoveries.

Thank you so much for your time.

I'm waiting for your comment