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By Michelle Wanjiku

Having a well-paying job is good and all but you have to remember that that can change at any time. You need to take steps to ensure that you live a comfortable life even when you stop working.

Financial freedom is not just for those born into well off families, whether you achieve it or not is up to you and it depends on the financial decisions you make.

So what steps should you take to ensure you reach financial freedom?

1. Control your expenses

This is the most basic money tip you can ever get, think about it, the less you spend the more money you can save.

Are you one of those people who is always broke by mid-month? If yes, then you clearly need to look at your spending habits.

A good way to avoid always being broke is to live below your means. This means cutting down on your spending habits.

For example, how much time do you spend watching TV? Chances are less than 4 hours so why are you paying thousands of shillings for hundreds of channels you will never watch?

You don’t have to live in a three bedroom house when you live alone. A one bedroom house will be sufficient.

Remember, “Poor people spend their money and save what’s left. Rich people save their money and spend what’s left.”

If you want to secure your financial future, you need to ensure that you control your spending; it may be difficult to do at first but ensuring you think twice before buying anything and tracking your expenses will benefit you in the long run.

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2. Surround yourself with like-minded people

You become like those you spend most of your time with.

If the people around you like spending money recklessly and buying things they can’t afford, then there is a likelihood that you will end up spending your money the same way.

Whereas, if you surround yourself with people who are looking to grow financially and are conscious about their financial decisions, they will influence you positively.

Think of it this way, if you have a friend who starts investing in stocks and is earning money from it then you are more likely to choose to invest in stocks as well.

3. Have multiple streams of income

I am sure you have heard this quite a lot but the truth is, if what you earn not enough to take care of all your bills, then there is a need for you to supplement your earnings.

When it comes to side hustles, it doesn’t have to be something so serious, for example, if you are a good writer you can go into freelance writing, if you are good at graphic design you can also freelance.

Whatever you choose to do, having multiple sources of income will help you better your financial situation.

4. Save smart

Saving is a very important part of achieving financial freedom, however, just saving is not enough, you need to save smartly. This means saving your money in a high interest earning accounts

You can also invest some of your savings in stocks or bonds. You have to make sure that the money you are saving is actually working for you and multiplying without you necessarily having to do anything at all.

SEE ALSO >>> Best Ways to Save More Money Without Feeling Miserable

In Conclusion,

You wouldn’t be able to work forever, there will come a time when you have to retire, but the question is when you do, what sort of lifestyle will you have?

You need to remember that a time will come when you wouldn’t be able to earn money by working so you need to plan for these years to ensure your quality of life doesn’t suffer after you stop getting a steady paycheck.