Best Ways to Become Financially Free (2024)

By: Sarah Titus |

QUICK JUMP

If you’re reading this post, I can only assume that you are in debt and I can completely relate. Although I am completely financially free today, there was a time in my life where I was in $30,000 debt.

You feel like such a failure looking at that large amount. It feels like it happened overnight and no matter how hard you try, you just can’t shake the monkey on your back. You can’t take a vacation, you can’t give like you want to. Sometimes, when you are alone at night, thinking about your situation, you feel as though you have no options. You’ll never change anything. You’ve lost all hope of ever being financially free, free from the burden and responsibilities of debt.

You’re not alone!

There are so many others out there who are in debt as well. Our society pushes debt on us at every turn. They study how to get people to buy and they use your own weaknesses against you. You never even have a chance.

The truth is that you didn’t get into debt overnight. It took months, even years, and it will take a while to get out of debt as well. Here are 10 of the best articles I could find on how to become financially free and live a debt free life. I can relate to most of the things stated within the posts personally because I’ve been there.

If you get nothing else out of all these get out of debt tips, it should be this…

Do NOT give up hope.

Do NOT let them win.

You are stronger than you realize.

As a single mom, if I can do it, so can you!

Will it take time? Absolutely.

And you will fall off the horse time and time again. Just keep going.

Pick yourself up, dust yourself off and keep going, because really, the only way you truly fail IS TO STOP TRYING!

5 Reasons You Will Fail to Get Out of Debt {My Stay At Home Adventures}

Love #4. I was RICH, even when I was ONLY making $18,000/year. It’s all about the mindset. She’s so right!

Best Ways to Become Financially Free (1)

4 Rules for Becoming Debt Free by Age 30 {The Daily Positive}

“Spend less than you make. Period.” Love that, seriously!!! It’s so foundational and one of the keys to financial freedom.

Best Ways to Become Financially Free (2)

How to Become Financially Free {Sarah Titus}

I created this book for the millions of people out there who are in debt and feel like it’s hopeless. I’ve been there too. Feeling like you’re just spinning your wheels, but if you are consistent, you can overcome the debt monster.

In my latest book, How to Become Financially Free (now available in my Financial Freedom Bundle), I show you exactly how I went from being homeless and having nothing, being in $30,000 worth of debt, to becoming financially free and even going past that to make a fantastic living! I created the book at aprice that literally everyone can afford, and I put it on Amazon! Within a few days, it hit the #1 Best Sellers list on Amazon. There’s a lot of good information available right at your fingertips!

How I Paid off $170,000 of Student Loans {Money Saving Mom}

The last tip is VERY, VERY important! Find out what it is and how it will help you with your financial freedom plan …

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Free Debt Payoff Planner Printable {A Mom’s Take}

…and if you’re getting out of debt and taking steps to financial freedom, you’ll need a free printable to keep track of everything! Here’s a nice one.

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How We Paid Off Our Debt Faster With 1 Simple Tip {Growing Slower}

It really is such a simple tip. I think that sometimes we try to complicate things, making them harder than they really have to be, myself included. This “simple” tip as it’s called, is really an important one to knock out debt fast!

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That one time when we paid off our house {View Along The Way}

Kelly and her husband, Andy, paid off their mortgage completely before her 30th birthday, despite having a pretty average income. In this article, they lay out the five main steps they took to achieve their goal and help inspire others in doing the same.

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Budgeting Tips For Those With Irregular Income {Seed Time}

If you are self-employed or someone who works off of commission, your income likely isn’t the same from week to week or month to month, making budgeting a hard thing to do. In this article you’ll learn four budgeting tips to help you manage your irregular income and obtain more financial freedom.

Related: How I Survive on Inconsistent Paychecks

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Money Saving Tips for the Newly Frugal {Frugality Gal}

If living a frugal lifestyle is something new to you, baby steps are the easiest ways to ensure you’ll stick with it. This article will go over 19 different money saving tips that won’t be a huge shock to your current lifestyle and will get you on the path toward financial freedom.

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10 Smart Ways to Become Debt Free {Family Balance Sheet}

Great post full of information, tips, and tricks on how these 16 families paid off over a million dollars worth of debt!

Best Ways to Become Financially Free (10)

There you have it! What are YOUR best ways to become financially free? Do you have a trick or tip to share that’s really helped you and can encourage others?

Best Ways to Become Financially Free (2024)

FAQs

Best Ways to Become Financially Free? ›

The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).

What is the fastest way to become financially free? ›

How To Achieve Financial Freedom
  1. Clearly Define Your Financial Goals. Start this process by clearly defining your financial goals. ...
  2. Track And Analyze Your Spending. ...
  3. Create A Budget. ...
  4. Pay Off Your Debt. ...
  5. Start Investing. ...
  6. Create Multiple Streams Of Income. ...
  7. Save For The Future.
Jan 20, 2024

What is the 50 30 20 rule? ›

The 50/30/20 budget rule states that you should spend up to 50% of your after-tax income on needs and obligations that you must have or must do. The remaining half should be split between savings and debt repayment (20%) and everything else that you might want (30%).

What are the 5 ways of financial freedom? ›

Handle your wealth modestly, without overspending or being too generous with your money. Review, monitor and adjunct your investment portfolio when required. Ensure your financial strategy remains up to date as your life and goals change over time. Tip: An ongoing relationship with a financial advisor can help.

What are 10 steps to financial freedom? ›

10 Steps to Achieve Financial Freedom
  • Understand Where You Are At. You can't gain financial freedom if you do not have a starting point. ...
  • View Money Positively. ...
  • Pay Yourself First. ...
  • Spend Less. ...
  • Buy Experiences Not Things. ...
  • Pay Off Debt. ...
  • Create Additional Sources of Income. ...
  • Invest in Your Future.

What are the 7 steps to financial freedom? ›

The Seven Simple Steps to Financial Freedom
  • Make the most important financial decision of your life.
  • Become the insider: Know the rules before you get in the game.
  • Make the game winnable.
  • Make the most important investment decision of your life.
  • Create a lifetime income plan.
  • Invest like the .

What is the 4 rule for financial freedom? ›

The 4% rule says people should withdraw 4% of their retirement funds in the first year after retiring and take that dollar amount, adjusted for inflation, every year after. The rule seeks to establish a steady and safe income stream that will meet a retiree's current and future financial needs.

Is $4000 a good savings? ›

Ready to talk to an expert? Are you approaching 30? How much money do you have saved? According to CNN Money, someone between the ages of 25 and 30, who makes around $40,000 a year, should have at least $4,000 saved.

How to budget $5000 a month? ›

Consider an individual who takes home $5,000 a month. Applying the 50/30/20 rule would give them a monthly budget of: 50% for mandatory expenses = $2,500. 20% to savings and debt repayment = $1,000.

What are the four walls? ›

In a series of tweets, Ramsey suggested budgeting for food, utilities, shelter and transportation — in that specific order. “I call these budget categories the 'Four Walls. ' Focus on taking care of these FIRST, and in this specific order… especially if you're going through a tough financial season,” the tweet read.

How to live a financially free life? ›

If you're looking to pursue financial freedom, here are 9 places to start:
  1. Clearly define your financial goals. ...
  2. Make a budget. ...
  3. Keep working on your financial literacy. ...
  4. Track and analyze your spending. ...
  5. Automate your money. ...
  6. Pay down your debts. ...
  7. See whether investing makes sense. ...
  8. Keep an eye on your credit scores.

How to become wealthy? ›

How To Get Rich
  1. Start saving early.
  2. Avoid unnecessary spending and debt.
  3. Save 15% or more of every paycheck.
  4. Increase the money that you earn.
  5. Resist the desire to spend more as you make more money.
  6. Work with a financial professional with the expertise and experience to keep you on track.
Apr 11, 2024

How to be financially smart? ›

7 financial habits to help make you smarter with your money
  1. Automate whatever you can. Automate your savings, automate your loan repayments, automate your bills. ...
  2. Have specific, meaningful goals. ...
  3. Invest. ...
  4. Don't spend that unexpected cash. ...
  5. Prioritise high interest debt. ...
  6. Track your spending. ...
  7. Learn however you can.

How to afford the life you want? ›

  1. Set Life Goals.
  2. Make a Monthly Budget.
  3. Pay off Credit Cards in Full.
  4. Create Automatic Savings.
  5. Start Investing Now.
  6. Watch Your Credit Score.
  7. Negotiate for Goods and Services.
  8. Get Educated on Financial Issues.

How to grow financially in life? ›

7 steps to financial stability
  1. Invest in yourself. Having further education, more knowledge, and required skills for work can support your career advancement. ...
  2. Make money from what you like. ...
  3. Set saving and expense budgets. ...
  4. Spend wisely. ...
  5. Set emergency fund. ...
  6. Pay off debts. ...
  7. Plan for retirement.

How can I make wealth with no money? ›

10 Steps How To Build Wealth From Nothing Starting Today
  1. Educate yourself about money.
  2. Get a regular income source.
  3. Create a budget.
  4. Have enough insurance (but don't over-insure)
  5. Practice extreme savings from your income.
  6. Build an emergency fund.
  7. Improve your skill set.
  8. Explore passive income ideas.

How many years does it take to be financially free? ›

We'll assume that your income and expenses will remain at about the same ratio for the time it takes you to achieve financial independence. Realistically the time to accumulate enough savings will be a matter of 5-10 years, although a few will take longer.

What is the fastest and easiest way to get money? ›

How to make money fast
  • Test user experiences. ...
  • Take surveys online. ...
  • Sell stock photos. ...
  • Sell other stuff you already own. ...
  • Become a dog walker. ...
  • Try pet sitting or animal care. ...
  • Consider house sitting. ...
  • Drive for a rideshare company.
Dec 13, 2023

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