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The Book That Helped Me Achieve Financial Freedom

Understanding why money is a tool.

By Ionutz KazakuPublished 2 years ago 3 min read

Do you want to be rich?

You probably want a yacht, a luxury car or maybe a mansion. You want to go on vacation every week. You want to wear expensive, fashionable clothes. Every day should be a party with exotic feelings.

I don’t think so.

No one wants to spend so much money.

You want to be free and achieve financial freedom.

With the help of this book, you will learn the most important principles of achieving financial freedom.

Here are my 5 life-changing principles —

#1: Become Financially Disciplined

Learn to say “this is enough”.

Everyone should start from this principle.

Building a financial discipline is the key factor for becoming financially free. Everyone nowadays spends money on unnecessary things. It can be a pair of sneakers, fashionable clothes or it can go as high as buying an expensive car. Most of the time, such decisions are driven by the urge to show off.

Let’s become more mature and understand that being productive, learning, trying lots of stuff and becoming better every day, is the real flex.

Don’t worry about someone’s opinion.

Become financially disciplined now, so you can relax later.

#2: The Magic of Compounding

Warren Buffet has a net worth of $103,4 billion.

$95,2 billion came after his 65th birthday.

He started investing at the age of 10. By the age of 30, he has made his first million from investing. He has done this for ages, all his life to be exact. He is turning 92 this year and I bet he won’t stop.

99,9% of Warren Buffet’s wealth came from compounding.

The long-term path is the safest and the most profitable.

#3: Financial Freedom

Buy time with money.

Yes, money can buy us luxury houses, fast cars and expensive clothes, but. The true value of money is the flexibility, opportunities and the huge amount of time that it gives us. With the help of money, we can solve almost everything in our life, thus, limiting our stress as much as possible.

Money’s greatest intrinsic value is its ability to give you control over your time.

Time is the most valuable currency in the world.

#4: Save As Much As You Can

How much money do you spend on unnecessary things?

Building wealth has little to do with your income or investment returns, and lots to do with your savings rate.

Saving = Income — Ego

Saving money is the only variable we can control. Personal savings have a very good chance of being as effective in the future as today. Life is full of unwelcomed events, thus you must be prepared for anything and everything.

Having extra money can save you one day.

#5: Be Reasonable Rather Than Rational

We are not robots, we have emotions.

Not every financial decision should be rational. Our main goal is to be happy, that’s why it’s ok, sometimes, to make a less responsible decision when it comes to spending money. If you can, and most importantly, if you won’t be stressed anymore, pay off that house, or car that’s driving you crazy.

Being reasonable rather than rational will increase the odds of making better investment decisions.

Being always stressed will cause lots of health, relationship and day-to-day problems.

It’s not worth it.

Your mental sanity is more important.

With an ongoing crisis, we should be more disciplined with our money.

You can subscribe to my monthly newsletter where I share my reading list, podcasts, articles, videos, tools and other stuff I find useful.

Thanks for reading :)

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About the Creator

Ionutz Kazaku

Writing articles, reading books, listening to podcasts — constantly learning.

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    Ionutz KazakuWritten by Ionutz Kazaku

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