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financial levels

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Daniela
@celi130
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2 min read

Survives

These types of experiences are those types of people who do not fully experience financial freedom but live on a day-to-day basis, where all their income is equal to their expenses, or sometimes you spend more than their expenses. income. He finds himself slaves of expenses.

  • They use credit cards.
  • You do not have financial planning.
  • They don't save.
  • They are not paid first.
  • They do not set aside 10% of their income.

These types of people can be affected psychologically if they continue this life, having stress, anxiety, fear and may even lose their family.

How can you remove this Level?

  • Control your expenses.
  • Save.
  • Set aside 10% of your income.
  • Eliminate all toxic debt.
  • Look for new sources of income.

Financial stability

This type of level should be large parts of the person, because this is the opposite of the first, here you not only live day to day.

  • The income covers your expenses.
  • Emergency accounts (Financial fund from 3 to 6 months of salaries)
  • Control your expenses.
  • Initiate investments.

Here at this level people have a good psychological level, they have tranquility and peace.

How can we improve:

  • Control expenses.

  • Invest in assets (informed)

Financial security

This is the next level that we should advance, after being in financial stability, we must continue to advance, not get stuck in a conformism or in a comfort zone.

  • Investments in different portfolios.
  • Passive income.
  • Although you still live on your salary, you have peace of mind.
  • Diversify your investments.
  • Get out of the comfort zone.
  • Long-term goals and plans
  • Put your knowledge on.

Financial Freedom

When you reach this step of having financial freedom, it is because your liabilities already cover your expenses. Here, your job is an option of whether you follow it because you like it, or you can quit.

  • Free time to share with the family or hobbies.
  • You protect your assets.
  • Riskier investments.
  • Fullness and happiness.

Financial abundance

We would all like to reach this last level, where we are not financially deprived.

  • Our passive income 500%.
  • Riskier investments.
  • We have plenty of time.
  • You have more money than you need to live.
  • You allow yourself luxuries.
  • Keep protecting your assets.

What level are you at now?

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