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.

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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

What is the easiest way to become financially free? ›

Here are the ways you can start achieving financial freedom today:
  1. Learn How to Budget.
  2. Get Debt Out of Your Life—For Good.
  3. Set Financial Goals.
  4. Be Smart About Your Career Choice.
  5. Save Money for Emergencies.
  6. Plan for Big Purchases.
  7. Invest for Your Retirement Future.
  8. Look for Ways to Save Money.
Feb 2, 2024

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 the 7 steps to financial freedom? ›

You can too!
  • Save $1,000 for Your Starter Emergency Fund.
  • Pay Off All Debt (Except the House) Using the Debt Snowball.
  • Save 3–6 Months of Expenses in a Fully Funded Emergency Fund.
  • Invest 15% of Your Household Income in Retirement.
  • Save for Your Children's College Fund.
  • Pay Off Your Home Early.
  • Build Wealth and Give.

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.

How to start living without money? ›

How to live off the grid with no money
  1. Do a work exchange. If you're new to the off-grid life, a great way to start is through Worldpackers. ...
  2. Join an off-grid community. ...
  3. Find low-cost or free land. ...
  4. Construct a cabin or tiny house. ...
  5. Grow your own food. ...
  6. Fish responsibly. ...
  7. Forage for edible plants. ...
  8. Collect and filter water.

How do I become financially independent ASAP? ›

How to Become Financially Independent [11 Proven Strategies]
  1. Invest in Index Funds.
  2. Start a Side Hustle.
  3. Build (and stick to) a Budget.
  4. Build an Emergency Fund.
  5. Invest in Yourself.
  6. Ignore the Joneses.
  7. Increase Your Savings Rate.
  8. Pay Off High-Interest Debt ASAP.
6 days ago

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

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.

What is the 30 day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

How to become financially free by 30? ›

10 steps to financial freedom in your twenties and thirties
  1. Start saving for your future...now! ...
  2. Get into the habit of budgeting — and stick to it! ...
  3. Avoid debit cards and debt accumulation. ...
  4. Bank smart. ...
  5. Have an emergency fund. ...
  6. Learn about investing. ...
  7. Set goals. ...
  8. Take advantage of free money: invest in a company-matched 401k.

What is the 50 20 30 budget rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

How to succeed financially in life? ›

  1. Choose Carefully.
  2. Invest In Yourself.
  3. Plan Your Spending.
  4. Save, Save More, and. Keep Saving.
  5. Put Yourself on a Budget.
  6. Learn to Invest.
  7. Credit Can Be Your Friend. or Enemy.
  8. Nothing is Ever Free.

How to live off savings? ›

There are a few different ways to invest your money to earn interest and live off of that income. The most popular investments are bonds, certificates of deposit (CDs) and annuities. The interest that you'll earn will depend on the amount of money you have in your account when you go to live off of that interest.

How to start over financially? ›

Starting Over Financially After Bankruptcy, Divorce, or Unemployment
  1. Find Work You Love.
  2. Tighten Up Expenses.
  3. Build Your Emergency Fund.
  4. Use Your Employer Match.
  5. Consider a Roth IRA.
  6. Avoid Big Investment Risks.
  7. Consider Buying a House.
  8. Don't Take Social Security Early.
Jan 4, 2022

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.

How do I start fresh financially? ›

Here are six simple steps you can take to help set yourself up for financial success in 2024 and beyond.
  1. Revisit Your Household Budget. ...
  2. Check Your Emergency Fund. ...
  3. Tackle Your Debt. ...
  4. Make Sure You're on Track with Your Goals. ...
  5. Revisit Your Asset Allocation. ...
  6. Update Your Estate and Insurance Plans.

What net worth is needed for financial freedom? ›

Amassing a net worth equal to 20X your average annual gross income will be hard. But good news! Once you have a minimum portfolio balance of $300,000 you will start feeling free. And once your net worth reaches 10X your average annual gross income, that's when the feeling of financial independence starts kicking in.

How much money do you need to never worry about money again? ›

“On average, Americans believe it takes approximately an additional $284,000 above feeling wealthy to really be 'worry-free. ' This 'wealth delta' depends greatly on where you are in life, with the difference being highest for those in their 30s and 40s — peaking at nearly $1 million.

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