Each and everyone’s most important and unachievable dream is financial freedom, but most of us fail to achieve the same. This is because we use to angle it in different dimensions. In some one’s definition, financial freedom will be,

·       Earning more.

·       One of the top 100 richest men in the world.

·       Becoming rich.

·       Having 9 digit bank balance.

·       Debt free.

·       Building more assets, etc.

·       Owning a private jet, guest house, bungalow, etc.



It is defined as, the process by which we live our life without any financial struggles or burdens till our last breath and transferring the same legacy for our future generations. In simple terms, free from the problem associated with finance, even to our generations.

 In this subject, we shall go through a few phases, how to achieve financial freedom

1.   Learning on Assets and Liabilities.

2.   Converting Liabilities into Assets.

3.   Time and Skill – The real source of Income.

4.   Increase your Income, not your expenses.

5.   Get out of your Comfort Zone.


By the end of this small topic, we all will be on the same mindset of becoming financially free, but it’s not a single day BELIEVER SONG. We have to implement each and every day of our life. Until you clear all your debts, financial freedom will be like “writing your dreams on water”





ASSET: In the simple term, An asset is anything that brings income or put money to your wallet. The asset has to create income or else it has to grow on its own like gold, shares, etc. For example, if we rent a house that brings us a monetary benefit, an income will be an asset.


LIABILITIES: Liabilities are something that takes money from our wallet and doesn’t bring back at any time. For example, The house which we built for our residential, even though it’s an all-time need, it’s just consumption and doesn’t make any income. Unless we rent a particular portion of our house.

Note: The above differentiation on House as renting vs owning is just for an understanding of assets and liabilities, it not a debate.


Have a look at our article on Basic Habits to develop in financial planning




This is an interesting topic, where we shall learn about how to use liabilities to earn assets.

·       If we have two residential houses, use one to stay in and let another house for rent, which will bring you monthly income.

·       If you own a car which is often at your parking without any use, it can be used as a taxi to generate an income in your free time, there is nothing related to our pride of earning through taxi being in financial burdens.

·       Sell the unused and unwanted things at home and generate income as an asset.

·       The money in hand or in the bank is completely a liability, invest them wisely, and convert them into an asset.

·       If you have a portion of your house vacant like you live in a 3BHK house and you are enough with 2BHK, you can rent 1 BHK for tourist who visits your area. This is commonly used to earn as a source of income in foreign countries.




          Have you ever thought about the source of income? Commonly many people use to say job, business, etc. Ideally, it’s not the source of income, it’s your time and skill will be converted as your income.

·       First, you have to calculate your 1 hour of income, and then 1 minute of income. For example, if a person earns Rs. 60000 per month and work for 24 days a month for 8 hours a day. The 1-hour salary of the person will be Rs. 312.5 and 1-minute income is Rs. 5.2.

·       When you are a beginner in your career, you will be also a beginner at your skills. And that’s why your pay will be limited and while you increase your skills to the master level you will be paid on the same proportion.

·       Learn new skill sets that will be the future of your career or which will boost your business ROI (Return on investment).

·       While you understand that both time and skills are your real source of income, hold your day with productive time management. You must be able to realize that spending your 3 hours of time in the movie is a waste and it makes a loss of Rs.1000+.

·       You must invest your time in learning new things which will lead you to update your skills.

Note: Most people use to say that they don’t have time. we all have to understand “Only dead bodies don’t have time”




To achieve financial freedom, the most valuable part that everyone should learn is, how to increase our income, not the expenses. Most of us are in the 97%, i.e people who spend a lot than earning. If you want to become one among the 3% i.e people who earn a lot than spending, you have to change the mindset as well as have to work very hard in achieving it.

·     The moment when money starts to fill our wallet, our underlying pride sprouts out to establish how wealthy we are to society and live to please others’ eyes.

·       The aim of your financial life will not make you financially free. Instead, Plan your dreams and goals and work towards achieving that.

·       You might be having a goal to built your dream home by the next 10 years with the current income, when you increase your income, the same dream can be achieved within 5 years, and you can start investing in other dreams.

·       In the same way, you might have planned of being financially free within some years. It’s not that you to achieve it on your deadline, never the less you can achieve it before, by using the formula.

·       Increase your income as much as you can but stick to the same expenses that you spend till the present day to make you happy.

·       Find all the ways and means to increase your income, which most of the successful people are doing.




The crucial part of everyone’s life is being in a comfort zone. This is the biggest problem which no one knows. Even our parents guide us to get government or bank job, they think these are the only means to be in comfort. The real danger zone is sitting in a comfort zone.

·       Smart work is the hardest of the hard job.

·       Create an income source that will be potential in long run, even it doesn’t yield any income in present.

·       Sitting on the same job with the same skill sets and never looking for any updates, and living in the 9-6 rat race will never make you financially free.

·       When you come out of your comfort zone and ask the universe to work for you, it will help you in getting more solutions and services to become financially free.



·       Work for building assets and not for liabilities. Differentiate properly the assets and liabilities.

·       Work on how you can shift all your liabilities as your asset.

·       Understand your time and skills are your real income. So, before wasting your time in unproductive ways think twice that you are losing some income.

·       Increase your income and not the expenses, while you do this way the chance of attaining all your dreams and goals will be faster.

·       The weakest zone of our life is sitting happily in the comfort zone, it can backfire us at any point in time.

·       It’s time to develop all these attributes and quality in our life quickly and implementing in our daily life. Make sure that we will be shifting ourselves to attain financial freedom.



This subject is completely taken from a practical sense from most of the successful financial leaders and even from my mentors and myself.

If you have any thoughts or comments please do share with us. Also, if we need to cover up on any specific topic please let us know. We will work together in bringing valuable content to enhance the wealth of your life.