What if you skip all the stress of commuting and working on regular daily routines and spend quality time with your family and loved ones without interruption all day? Wouldn’t that sound fantastic? Well, Sal Shakir is looking forward to sharing with you the secret to achieving financial liberation. The most critical five thumbs essentials include; setting up your life goal, making your financial planning and modeling, being debt-free, Creating your savings, and investing. Sal Shakir has been at the forefront in advocating for financial freedom.
Who Exactly is Sal Shakir?
Sal Shakir is a serial entrepreneur and a real estate investor who has managed to establish and run twenty-six unique businesses. He is the owner of ALL IN Entrepreneurs, Offerkey, and national cash offer, to mention but a few. Here are a few things you can learn from the icon.
- Set Up Your Life Goals
What do you want to accomplish in your life? Well, run your mind through the question and apply it’s answer to your real-life situation. You need to set your account as the survival tactic in case of contingencies. You will, therefore, need an emergency fund set aside to act as a buffer. A general overview is vague; therefore, get specific on each detail that you need to achieve. The more specific your goals are, the higher the chances are of making them.
Count your age and establish financial milestones with regular intervals say quarterly. Put the goal sheet and tracker at the start so you can build your financial tracker.
- Financial Planning And Modeling
Make a budget and stick to it. Never make any impulse buying, no matter how tempting it may be. The budget is the best way to guarantee that all you will pay off all your bills, and no additional debts will accumulate. Your risk appetite drives your attitude, but mostly you need to caution yourself by evaluating the weight of each risk and the cost factor.
Make your budget as detailed as possible. The projections will enable you to capture the tiny details that may alter your financial stability. You will as well be able to reinforce your goals and bolsters and restrict you from splurge.
- Debt-Free Attitude
Check off all the debts that you may have accrued to date. Evaluate the interest accrued and the alternative ways you need to finance the expenses. List all your current and long term liabilities and work towards clearing them all without accumulating further debt. Make a piecemeal payment based on your projection.
- Create Savings
Pay yourself first. Create savings avenues and diversify your savings. Have a retirement plan in place, and take advantage of the matching contribution benefits. Create an allowance to automatically withdraw contingency funds, which you will use for unexpected expenses.
To make it easy, you need to make an automatic transfer to your savings account immediately you receive your paycheck to avoid the temptation to spend. While deciding your savings goal, make it realistic by conducting a feasibility check on all recurring costs to prevent overstretching or looking for alternative funding.
Look for investments that will give you a higher return on investment. Don’t put all your eggs in one bucket. Create diversity and tap into areas that have been less explored. Support innovations, although it may be risky, their return is higher compared to the conventional ones.
Create your short term and long term goals and match the returns with your investment goals. Stick to your schedules but create some flexibility to tap on good deals. Never be shy to fail. Put your focus on achieving the impossible.
It’s through making the baby steps that you will eventually attain your financial freedom. Have a heart of zeal and a go-getter attitude. Nothing is impossible in this world. All you need is to start and set your mind on your goals. Learn more about the tactics to financial freedom from Sal Shakir on twitter handle and LinkedIn Do you need a personal touch? Check his Facebook page and Instagram handle. For more information, check the link to his successful business on the websites, ALLIn nation, Offerkey, National Cash Offer,listiva, prospectX.