Recently, I got a message from Natalie who explained that as part of a financial preparedness night, she'll have ten minutes to speak about financial freedom. Her question to me was, “What would you talk about if you only had ten minutes?”
Only ten minutes? I find it difficult to introduce myself in that little time, but I'm up to the challenge. So fasten your seatbelts. Here's a ten-minute crash course in financial freedom.
SAVE. Don't confuse saving money with spending less, as in “I save money when I buy things on sale.” You're not saving at all; you're just spending less. Saving money means that you actually put money into a safe place for some future time. Do that. Starting right now and forevermore make it a rule that you will put some amount of your paycheck into a savings account before you spend any of it. Make it automatic and you won't miss what you don't see. Goal: 10% of all you receive goes straight into savings.