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Are you planning to achieve financial freedom in next 5 years, 10 years or in future? Then you must read this series called 4 MUST to plan for your financial freedom.

Idea of this series is coming from Liz Pulliam Weston, MSN Money. In her article, 4 ways to protect your financial freedom, she share with us 4 steps to protect our financial freedom goals. So I will split this series to 4 parts and discuss each part for 4 days. So come back to this blog tomorrow for the first part.

How to Manage Money Financial Planning

Time is passing so fast. Today is Sunday. So below is the post that I post for this week (12-17 December 2005).

Monday, 12 December 2005 - Budget To Financial Freedom - What make your budget fail?
Deborah Fowles From About.com wrote an article about the reason that budget fail.

Tuesday, 13 December 2005 - Debt Control - Debt Fighting Tips, Part 2 : Stop Getting New Debts
If you want to fight your debts, please stop getting new debts. Credit Cards, the card that we can easily borrow money from, have to be control and use it wisely.

Wednesday, 14 December 2005 - Debt Control - Debt Fighting Tips, Part 3 : Live on Cash Basic
Live on cash basic instead of credit cards. Hold this life until your debt is under control and you know how to use credit card wisely.

Thursday, 15 December 2005 - Debt Control - Debt Fighting Tips, Part 4 : Get Handle on Your Situation
Know your situation, plan it, take action and achieve it!

Friday, 16 December 2005 - Announcement - Carnival of Debt Reduction Submission
I submit my blog to host Carnival of Debt Reduction.

Friday, 16 December 2005 - Debt Control 鈥?Debt Fighting Tips, Part 5 : Prepare a budget
Prepare a budget, a plan that helps you to spend your money and keep track of your financial status.

Saturday, 17 December 2005 - Debt Control - Debt Fighting Tips, Part 6 : Keep Thinking Long Term
Set your mindset to think long term. Think about your future before you spend.

Announcement

YES!…… Finally I get it. Today I received an email from Mbhunter, mightybargainhunter.com. I will host Carnival Of Debt Reduction for February 20th, 2006. This really will be a good time for us. Looking forward for it!

Announcement, MISC Carnival

This is Part 6 for the series post Debt Control - Debt Fighting Tips, you can read my part 1, part 2, part 3, part 4 and part 5 by clicking on the links.

Debt Fighting is a long journey to everybody. You’re not going to be success in overnight, but if you don’t give up you will success. Please prepare your mind that you are going to have some difficulties, but that’s ok, your future will be bright. Keep Thinking Long Term.

Debt fighting tips number 5 : Keep Thinking Long Term

As I said, it isn’t an overnight process to fight debt, and you have to keep an eye on your destination. It probably will take few years to be success and at this time keep thinking long term is very important. Your goal for the future, things you need to get in your future, financial status that you dream will give you power to take actions and continue. So take some times, sit down, and think about what you want to get in future, make decision and take action. No matter what happen and how difficult it is, just keep thinking long term - Your Future.

When we spend our money, we also must think long term. What does it mean? Let me give you a little example.

Christmas is around the corner, you want to get a Big Screen TV for this Christmas. You pay $2000 with credit cards that charge 20% interest. You pay the minimum monthly payment of 2 percent of the balance. So you have to take 40 years to pay off the debt and costing you more than $8000 of interest. So if you can think in long term, the day you buy your big screen TV at $2000, you probably will know it will more than $2000. So does it worth it at that time?

What if you take the $2000, in cash and invest it in a fund that can give you 2% monthly interest. So the story will be different. For the same time, you can get back more than $8000 of interest. Then at that time you can buy your big screen TV with CASH!

The point to think long term is you must think and plan, do some math before you spend your money. Delay your gratification first and you will get even more after this.

How to Manage Money Debt Consolidation

This is Part 5 for the series post Debt Control - Debt Fighting Tips, you can read my part 1, part 2, part 3 and part 4 by clicking on the links.

In my post of Formula to be Financial Free: I mentioned that budget is one of the most important elements. In my other post, I also share about how important of budget and information about budget. I concentrate so much on budget because budget is the foundation of your personal finance.

Debt fighting tips number 4 : Prepare a budget

No matter what method you use, you must create a budget if you want to be financial free and debt free. Maybe you hear enough from others that budget is not working and you just live beyond your meaning. However what I think is budget is important and work. ONLY if you decide and ready to take actions.

Actually budget do work if you do them right. You will control and spend your money more wisely, simply because a budget is a plan that will guide you how to spend your money on your personal financial goals. No financial dream, like financial freedom, can come true without a plan like budget. I can guarantee!

Last few days, I make a post called Budget To Financial Freedom - What make your budget fail. It is about reasons why your budget fails. You may have a look on the post and you will find out roughly the basic problems that most people make until their budget fail and make conclusion that budget is not working.

Financial Freedom, Debt Fighting, Tips, Budget

How to Manage Money Debt Consolidation