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TO ACHIEVE FINANCIAL INDEPENDENCE
Author: Tanz Khan Financial Advisor & PlannerEmail: [email protected]
Achieving financial independency is not a rocket
science! It merely demands planning and careful
observation to take control over your spends
that eventually guarantees a positive cash
flows.
However there are ways to earn money, but the
big challenge lies in managing those finances!
TO ACHIEVE FINANCIAL INDEPENDENCE
TO ACHIEVE FINANCIAL INDEPENDENCE
Here are the 5 most powerful
ways that help and lead to achieve
some degree of Financial Independence
1. Kick Start with Budgeting
TO ACHIEVE FINANCIAL INDEPENDENCE
TO ACHIEVE FINANCIAL INDEPENDENCE
• Tracking the patterns of your income sources and how you are spending in term of expenses will give a basic idea about how to limit your expenditure and ensure that they are under control.
• Once you craft a plan or budget by adjusting few things besides hardly exceeding than your income to bring those demands under control, you’re well on the route to procure financial independency
2. Savings are absolutely ESSENTIAL
TO ACHIEVE FINANCIAL INDEPENDENCE
TO ACHIEVE FINANCIAL INDEPENDENCE
Savings should be given priority over spending and you should decide how much
you want to keep aside in your savings account before you start making expense.
Typically you should minimum set aside 10-15% monthly savings in your bank
account.
It is wise to have separate bank accounts than transaction accounts to better
monitoring your savings.
3. Slashing Debts Quickly
TO ACHIEVE FINANCIAL INDEPENDENCE
Priority must be given to high interest loans like credit cards and personal loans.
You should avoid rolling over credit card balance as they carry high interest rates almost over than 19% annually.
Hence, mange your debts from highest interest rates to lowest and plan where to kick off extinguishing your liabilities first.
TO ACHIEVE FINANCIAL INDEPENDENCE
Reduce your debts as quickly as possible or start with at least taking them under
control if you can’t extinguish it completely.
4. Check your Utility bills
TO ACHIEVE FINANCIAL INDEPENDENCE
TO ACHIEVE FINANCIAL INDEPENDENCE
ALTERNATIVE
• Always keep an eye on your utility bills and cut it down by incorporating efficient and alternative resources.
• Help compare using online calculators to check competitiveness among the energy providers and get the best deal.
• Another way to switch latest technology equipment like LED or energy savers and use of sensors or automation will keep the energy cost down and ultimately bills’ reduction.
5. Careful while Shopping
TO ACHIEVE FINANCIAL INDEPENDENCE
TO ACHIEVE FINANCIAL INDEPENDENCE
•Try to avoid buying expensive brands as generic and unbranded items may often give bring more value in competitiveness and carry more weight in quantity.
•While purchasing grocery, avoid processed and ready meals over fresh or raw ingredients not only help you to save more bucks in your pocket while reducing health risks.
What’s Next?
• Implementing these tips will surely help you to achieve financial independency for short term. But how about your long term
financial goals?
• Have you ever thought about a financial plan for long term
benefits?
• Do you know over than 75% people don’t know they can
save more in taxes ?
• Do you want to minimize taxes and get the optimum
benefits for your retirement?Answers could be Yes or may be No. But the burning question is
“Where to Start from!”
Tanz Khan, specialized Financial Planner and Advisor in Australia.
Tanz looks after families and individuals to help achieve their financial goals providing appropirate strategic advice tailored to their specific needs and objectives results in Wealth creation, Tax and Costs Minimisation and ultimately Wealth Maximisation.
Introducing...
Services are...
Wealth Creation
Debt Management
Cash Management
Tax Minimization
Superannuation and Retirement Planning
Personal and Business Insurance
Estate Planning
Acquiring Mortgage, Commercial Loans and SMSF property loans
Possible End Benefits...
Meet your day-to-day living expenses
Manage your debt to get the greatest return
Helping you to invest, accelerate your savings, borrow and make the most of your superannuationProtect your wealth and prepare to support if something unexpected happen.Ensure the appropriateness of your financial plan if your family circumstances change .Identify your required savings for retirement and get the right strategies to deliver the incomeGet assistance to make critical decisions to maintain your financial security If you are faced with redundancy
Achieve your financial goals so you can enjoy the lifestyle you want
Please Find Tanz at:
For Free Consultancy....
au.linkedin.com/in/tanzkhan
Possible End Benefits (draft)
Meet your day-to-day living expenses, manage your debt and is tax effective by building a wealth creation strategy.
Managing debt by debt consolidation, increased frequency for your mortgage payments or even borrowing to get the greatest return
Tax strategies (e.g. Income splitting, salary sacrificing to superannuation or tax effective investments) to help you get the most from your investments.
Protect your wealth and prepare to support yourself and those depending on you, should something unexpected happen.
Determine the level of savings you need for retirement and provide guidance on those strategies that will deliver the income you need.
Help you to make critical decisions so you maintain your financial security If you are faced with redundancy
