Search:

A Young Money Rebels Steps to Financial Independence

Young money rebels do not follow the social norms when it comes to the handling of their personal finances. This is a positive quality especially when evaluating the current financial situation of many people. Today the average person is spending more than they earn and is accruing debt at a record pace. Now more than ever it is important to become a money rebel at a young age.

A Money Rebel defined.

Young (adjective yung) - being in an early period of life or growth.

Money (adjective muhn-ee) - legal tender.

Rebel (noun reb-uhl) ' a person that exhibits independence in thought and action.

The need to be a young money rebel.

The latest reports show that the average person today is in poor financial shape. They may not be going bankrupt or having their home foreclosed on just yet; however during these uncertain economic times with rising oil prices and the problems in the credit market many people are barely getting by.

Unfortunately many people are living paycheck to paycheck, are experiencing the stress associated with debt and are often struggling to get out of grim financial circumstances. Most of these same people share a similar goal ' to experience financial freedom - but fall into the traps plaguing so many people as shown in the examples below.

-62% of graduates expect to have a student loan debt averaging $27,236 ($101 billion nationally) and requiring 7.9 years to pay off. (Student Monitor)

-The American public has been spending more money than it has earned after taxes since April 2005. (U.S. Commerce Department)

-Some 40 percent of Americans are counting on the lottery, sweepstakes, getting married, or an inheritance to fund their retirement. (Were Not In Kansas Anymore)

-Household debt in 2007 is at record high levels relative to disposable income. (Federal Reserve)

-Polls show that students (ages 15-21) feel unprepared to face the complex world of the 21st Century (American Dream Education Campaign)

Young money rebels avoid those traps.

Young money rebels, on the other hand, are able to avoid debt traps, have money saved and are able to experience the feeling of financial security at a young age. They enjoy life on their terms now plus they are able to retire young.

Young money rebels are independent thinkers and avoid the financial traps so many people are currently in. They have a working budget, keep their spending in check, are knowledgeable about personal finance, and follow a consist investment plan.

A young money rebel understands that by investing at an early age they have a huge advantage. Young money rebels have an advantage. That advantage is called compounding intrest and it is working in their favor. With compounding interest the earlier you start investing, the greater potential growth of your money. That is why investing just $100 a month starting at age 18, and earning the S&P 500 average return, will make you a millionaire well before retirement age.

Young money rebels achieve financial freedom.

Anyone looking to achieve financial freedom should become a young money rebel. This will give you more free time, the ability to live the lifestyle of your dreams and avoid the stress associated with living like most people do ' with financial worries and stress.

Today it is more important than ever you do achieve financial freedom. The large reduction in pension plans and the uncertainty of social security means that young adults today will need to be prepared to self fund their own retirement. Those programs that are there for your parents like social security and pensions won't be there when your ready to retire.

How to become a young money rebel.

There are simple steps you can take to fully enjoying life by securing your financial future at a young age. Follow the six steps below to become a young money rebel.

1) Educate yourself. Most schools do not teach practical money skills so it is up to you. Fortunatly, today there are many resources available for anyone looking to improve their financial situation. Invest a half hour each night to learning about money and you will be well on your way to achieving financial security.

2) Financial goals. What motivates you? Is it a big home steps away from the beach, a year off to travel the world or is it just having enough free time to spend with loved ones? It is your choice how you want to live life; so consider this option. You may not know exactly what you want but you probably will have a general idea. So write down financial goals that will encourage you to achieve your dreams.

3) Team. Building a team of trusted advisors will be an important part in achieving success as a young money rebel. Your team should include a trusted tax advisor, financial mentor, and personal growth coaches.

4) Financial plan. Develop a step-by-step financial plan so you can achieve your life goals. Write down how much you are going to save each month, where you will invest your money and your desired results.

5) Saving. A savings plan is the backbone to your financial success; so start immediately. Talk to your bank about automating your savings plan so every time you deposit money a portion of that is automatically transferred to your savings account.

6) Investing consistency. A consistent investing plan will lead to long-term wealth and financial freedom. Just like your savings plan you can automate your investments so they are made automatically for every month. Set it up once then it automatically works for you. Just make sure to check your statement on a regular basis.

Just by following practical financial literacy skill you will be on your way to becoming a young money rebel and that much closer to living your dream life.

Article Source: http://www.newagelivingarticles.com

Vince Shorb teaches young adults how to become young money rebels. Get your free copy of his latest instructional videos and book at www.FreeBy30.com .

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Finances Articles Via RSS!

Additional Articles From - Home | Finances

Free Traffic

Article Directory Software
Click here to download the exact software that powers this directory for FREE. Start your own article directory today!

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Top Authors
Submit Articles
Member Login
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds

Little Book Of Becoming
Masters of the Secret
The Singularity Is Near
Distribute Your Articles to 1000's!
Wildwind Enterprises
Bookstore
About Us
Link to Us
Contact Us
Privacy Policy
Terms of Service

Links
All Links Directory All Links Directory is 100% SEO friendly Directory and Human Edited.

Accurate Online Psychic Readings Lilly provides a unique personal empowerment, spiritual approach to intuitive readings, as well as a vast array of other resources for the spiritual seeker. Access your Spiritual Guidance and turn negative karma into spiritual gold!

Psychic Sights An extensive portal of Psychic links, Metaphysical and New Age links and resources focused on quality.

Earth Spirits.org

Search Engine Optimization and SEO Tools

NewAgeLivingArticles.com » Copyright © 2007 WildWind Enterprises
Terms of Service | Submission Guidelines | Contact Us | Link to Us| Privacy Policy | About Us | Article Submissions With A Click 100's of Sites!