I just watched this video by Ali Abdaal, here are the 8 points he makes:
1. Understand Your Why
Financial freedom is more than just a lofty goal; it's a psychological construct. Ask yourself: Why do you want financial freedom? Is it to quit your 9-5, go part-time, or improve your lifestyle? Clarifying your motivations helps you focus on what you truly value.
2. Define Your Goal
How much money do you need each month to feel financially free? Whether it's $5k, $10k, or a million by age 30, do the math. As Warren Buffet says, "You can do anything but you can’t do everything." Use the GPS model—Goal, Plan, System. What’s your goal? How will you achieve it? How will you stick with the plan?
3. Take Action
Planning is crucial, but action is what drives results. Read books like Alex Hormozi’s $100M Offers, Noah Kagan’s Million Dollar Weekend, MJ DeMarco’s Millionaire Fastlane, and Russell Brunson’s Dotcom Secrets. Listen to podcasts like Ali Abdaal’s Deep Dive, featuring guests like Dan Priestley and Cody Sanchez.
4. Balance Your Life
Financial goals shouldn’t consume you. Don’t neglect other areas of your life. Balance is key to sustaining long-term progress and happiness.
5. Eliminate Time Wasters
Is watching Netflix or scrolling through social media part of your plan? Identify and eliminate activities that don’t contribute to your goals.
6. Leverage Your Day Job
Use the free time or commute from your day job to advance your goals. Small, consistent efforts can accumulate significant results over time.
7. Surround Yourself with Like-Minded People
"You are the average of the five people you spend the most time with." This includes your content diet. Surround yourself with individuals who inspire and challenge you.
8. Enjoy the Journey
Alan Watts wisely said, "The goal of a musical symphony is not the climax; the goal is the symphony itself." Enjoy the journey to financial freedom. The experiences, learning, and growth you encounter along the way are just as valuable as the end goal.