Deepak Jain

How can you achieve Financial Freedom? Before answering this question we need to understand, what is Financial Freedom?  Financial Freedom means having enough cash and savings to live life on your own terms💸. In other words, you can attain financial freedom when you no longer work for fulfilling your daily expenses because you have already planned for it and you have surplus money to cover your expenses till the end of your life. It does not mean that you will stop doing any work. Because you have already taken care of your expenses so now you will put your energy into work which is more fulfilling to you like you may like to do blogging, painting, traveling, etc. Plan Financial Goal Planning is the stepping stone to achieve Financial Freedom. This will tell you how much amount you will need to become financially free. How to calculate the amount for financial freedom? Reduce Expenses and  Save Money Each step taken to reduce expenses and incre...

Financial Goal Planning: The reason for most of our financial worries and stress is poor or no financial planning. To understand what financial planning is and how to do it, Let's do one exercise. If you are married then do it with your partner. (1) Listing specific goals :  List down all the things (Max 20) that you want to do in your life and require money. These are your financial goals. For example - Buying a house (down payment, loan completion) School Education of kids, College Education of kids, Buying Car, Retirement, Kid's Marriage expense, Vacation in your home country, Vacation in a foreign country. (2) Effective Goals Setting :  For each financial goal right down below things - (A) How much money will be required to achieve it? (B) After how many yrs you want to achieve it. (C) Give priority to each goal (1, 2, or 3) This is a very important step. Priority#1 should be given to things that definitely need to happen. Priority#2...