45 Ways To Achieve Financial Freedom

Before you start reading this blog, let me ask you a question?

What is financial freedom for you?

Think for 2 minute and try to come up with an answer.

Pause.

Did you?

What’s your answer?

If not, let me tell you.

Financial freedom is nothing but doing whatever you want, wherever you want, without jeopardizing your happiness.

That’s quite a controversial statement but irrespective of that, after many ifs and buts, you have to agree to this statement.

It’s ok if you don’t.

I respect your opinion.

Now that you have known what the term is, it’s high time you get to know some of the steps on how to achieve it.

And in order to do so, I have created an epic list of some of the best ways to achieve financial freedom as early as possible.

So, without further ado, let’s begin.

45 Ways To Achieve Financial Freedom

1. Create a Budget

Creating a budget involves tracking and managing your income and expenses to ensure that you are living within your means and working towards your financial goals.

A budget provides a clear overview of where your money is going, helping you to identify unnecessary expenditures, save more effectively, and make informed financial decisions.

It’s an essential tool for anyone looking to achieve financial freedom, as it lays the groundwork for all other financial strategies.

Steps to Implement:

Assess Your Income: Calculate your total monthly income, including your salary, any side hustles, and passive income sources.
List Your Expenses: Categorize your expenses into fixed (like rent/mortgage, utilities, insurance) and variable (like groceries, entertainment, and dining out).
Track Your Spending: Use a spreadsheet, app, or paper to record every expense. This helps in identifying spending patterns.
Set Financial Goals: Define short-term and long-term financial objectives, such as saving for a vacation, paying off debt, or investing.
Allocate Budgets to Each Category: Based on your goals and spending habits, assign a spending limit to each category.
Prioritize Necessities: Ensure that essentials like housing, food, and healthcare are covered first.
Plan for Savings: Include a category for savings, aiming for a percentage of your income to go towards savings each month.
Monitor and Adjust Regularly: Review your budget monthly to adjust for any changes in income or expenses.

2. Build an Emergency Fund

An emergency fund is a financial safety net designed to cover unexpected expenses, such as medical emergencies, car repairs, or job loss.

Having an emergency fund reduces the need to take on high-interest debt in tough times and provides peace of mind.

The size of the fund can vary depending on personal circumstances, but it’s generally recommended to have three to six months’ worth of living expenses saved.

Steps to Implement:

Determine Your Target Amount: Calculate three to six months’ worth of living expenses, including rent, bills, groceries, and any other necessities.
Open a Separate Savings Account: This account should be easily accessible but separate from your main checking account.
Start Small: If saving a large amount seems daunting, begin with a smaller goal, like $500 or $1,000, and build from there.
Set Up Automatic Transfers: Automate transfers from your checking to your emergency fund with each paycheck.
Cut Back on Non-Essentials: Identify areas where you can reduce spending to funnel more money into your emergency fund.
Regularly Review and Adjust: As your financial situation changes, reassess and adjust your emergency fund target.

3. Pay Off Debt

Paying off debt, especially high-interest debt like credit card balances, is crucial for financial freedom.

High-interest debt can rapidly grow and become overwhelming, hindering your ability to save and invest. Prioritizing debt repayment can save you money on interest, improve your credit score, and reduce financial stress.

Steps to Implement:

List All Debts: Write down all your debts, including amounts owed, interest rates, and minimum payments.
Prioritize Debts: Focus on high-interest debts first, using methods like the debt avalanche (highest interest rate first) or debt snowball (smallest debt first) approach.
Create a Repayment Plan: Allocate a specific amount of your budget towards debt repayment.
Cut Unnecessary Expenses: Identify areas where you can reduce spending to allocate more towards debt repayment.
Consider Debt Consolidation: If you have multiple high-interest debts, consider a consolidation loan or balance transfer to a lower interest rate option.
Avoid Accumulating More Debt: Stop using credit cards or taking on new loans while you’re paying off existing debt.
Celebrate Milestones: Recognize and celebrate when you pay off a debt to stay motivated.

4. Invest in Stocks

Investing in stocks means buying shares of ownership in public companies. It’s a way to potentially earn significant returns as the value of these companies grows over time.

Stock investments are typically associated with higher risk compared to other assets, but they also offer the potential for higher returns, especially in the long term.

Diversification across different sectors and industries is key to managing risk in a stock portfolio.

Steps to Implement:

Educate Yourself: Learn the basics of the stock market, including how stocks work and the risks involved.
Define Your Investment Goals: Set clear objectives, such as long-term growth, income, or saving for retirement.
Determine Your Risk Tolerance: Assess how much risk you are willing to take.
Open a Brokerage Account: Choose a reputable brokerage and set up an account.
Research Stocks: Investigate different companies and industries to find stocks that align with your goals.
Start with a Diversified Portfolio: Consider a mix of different stocks, or start with mutual funds or ETFs that provide instant diversification.
Invest Regularly: Consider a regular investment plan, such as monthly or quarterly purchases.
Monitor and Review Your Portfolio: Regularly check your investments and make adjustments as needed.

5. Invest in Bonds

Bonds are fixed-income investments where you loan money to a government entity or corporation, which in return, promises to pay you back with interest by a certain date.

Bonds are generally considered safer than stocks and provide a steady income stream, making them an attractive option for conservative investors or those seeking to balance the risk in their portfolios.

Steps to Implement:

Understand Different Types of Bonds: Learn about various bonds, including government, municipal, and corporate bonds, and their risk profiles.
Assess Your Investment Timeframe: Choose bonds that match your investment horizon and income needs.
Determine Your Risk Tolerance: Consider the level of risk associated with different bonds.
Open a Brokerage Account: If you don’t already have one, open an account that allows bond trading.
Diversify Across Bond Types: Invest in a variety of bonds to spread out risk.
Consider Bond Funds: For diversification, consider bond mutual funds or ETFs, which invest in a variety of bonds.
Regularly Review Your Bond Investments: Keep track of interest rates and credit ratings, as they can impact your bond’s performance.

6. Start a Retirement Account

Starting a retirement account, such as a 401(k) or an Individual Retirement Account (IRA), is a critical step towards ensuring financial security in later life.

These accounts offer tax advantages that can significantly enhance long-term savings. The earlier you start contributing, the more time your investments have to grow, thanks to the power of compounding interest.

Steps to Implement:

Understand Different Retirement Accounts: Learn the differences between 401(k)s, IRAs (Traditional and Roth), and other retirement accounts.
Evaluate Your Options: If your employer offers a 401(k) with a match, consider starting there. Otherwise, look into opening an IRA.
Decide on Traditional vs. Roth: Understand the tax implications of each type and decide which is more beneficial for you.
Set Up Automatic Contributions: Arrange for a portion of your paycheck to go directly into your retirement account.
Choose Your Investments: Select a mix of investments based on your age, risk tolerance, and investment goals. Younger investors might choose more stocks for growth, while older investors might prefer more bonds for stability.
Increase Contributions Over Time: As your income grows, increase your contributions.
Regularly Review and Adjust Your Portfolio: As you get closer to retirement, you may want to adjust your investment strategy.
Stay Informed About Contribution Limits: Be aware of annual contribution limits and adjust your contributions accordingly.

7. Automate Savings

Automating savings involves setting up automatic transfers from your checking account to your savings account. This method helps in building savings without the need to remember to transfer funds manually.

It effectively treats savings like a regular expense, ensuring that a portion of your income is saved before you have the chance to spend it.

This approach is beneficial for consistent savings growth and can be particularly effective for achieving long-term financial goals like building an emergency fund, saving for a down payment on a house, or preparing for retirement.

Steps to Implement:

Choose the Right Savings Account: Find a savings account with a good interest rate and low fees.
Set Savings Goals: Determine how much you need to save for your goals.
Schedule Automatic Transfers: Arrange for automatic transfers soon after your paycheck is deposited.
Start Small, Then Increase: Begin with a manageable amount, then gradually increase it as you become more comfortable.
Align with Pay Schedule: Set transfers to coincide with your paydays to ensure sufficient funds.
Regularly Review and Adjust: As your financial situation changes, adjust the amount you’re saving.

8. Learn About Personal Finance

Educating yourself about personal finance is key to making informed decisions about your money. It encompasses a wide range of topics, from budgeting and saving to investing and retirement planning.

Understanding these concepts can help you avoid common financial pitfalls, grow your wealth, and achieve financial independence.

In today’s information age, numerous resources are available for learning, including books, online courses, podcasts, blogs, and more.

Steps to Implement:

Identify Key Learning Areas: Determine which areas of personal finance you need to learn more about.
Read Books and Articles: Start with well-regarded personal finance books and online articles.
Take Online Courses: Look for free or paid courses that cover specific financial topics.
Listen to Podcasts: Find podcasts that focus on personal finance education.
Follow Financial Blogs and Vlogs: Subscribe to blogs or YouTube channels for regular updates and tips.
Join Online Forums: Participate in communities where you can ask questions and share knowledge.
Apply Learning to Your Finances: Implement new strategies and tools in your financial planning.
Stay Updated: Regularly seek out new information as financial markets and tools evolve.

9. Reduce Unnecessary Spending

Reducing unnecessary spending means cutting back on non-essential expenses.

This practice is crucial for effective budget management, allowing you to allocate more resources to saving and investing. It involves distinguishing between ‘wants’ and ‘needs’, prioritizing expenditures that are essential for your well-being and long-term financial goals.

Reducing unnecessary spending can involve lifestyle changes but doesn’t necessarily mean depriving yourself; rather, it’s about making smarter spending choices.

Steps to Implement:

Track Your Spending: Keep a record of all your expenses to identify where your money goes.
Categorize Expenses: Separate essential expenses from non-essentials.
Set Spending Limits: Assign a budget for discretionary spending.
Eliminate Impulse Buys: Avoid making spontaneous purchases.
Look for Alternatives: Find cheaper alternatives for non-essential items and services.
Cancel Unused Subscriptions: Regularly review and cancel subscriptions or memberships you no longer use.
Practice Mindful Spending: Consider the value and necessity of each purchase.
Reward Yourself for Savings: Allow yourself small rewards for reaching savings milestones.

10. Use Credit Wisely

Using credit wisely involves managing credit cards and loans responsibly to maintain a good credit score.

A good credit score is crucial for various financial aspects, such as securing loans with favorable interest rates, renting apartments, and sometimes even for employment opportunities. Responsible credit use includes paying bills on time, keeping credit utilization low, and being cautious about opening new accounts.

It also involves understanding the terms of your credit agreements and the impact of your credit behavior on your credit score.

Steps to Implement:

Understand Your Credit Score: Learn what factors affect your credit score, such as payment history, credit utilization, and length of credit history.
Pay Bills On Time: Set reminders or automate payments to ensure you never miss a due date.
Keep Credit Utilization Low: Aim to use less than 30% of your available credit limit.
Limit New Credit Applications: Avoid applying for several credit cards or loans in a short period.
Regularly Check Credit Reports: Review your credit reports for errors or fraudulent activity.
Pay More Than the Minimum: Whenever possible, pay more than the minimum payment on your credit card balances.
Be Cautious With Balance Transfers: Understand the terms before transferring credit card balances to lower interest rate cards.
Educate Yourself on Interest Rates and Fees: Know the interest rates and fees associated with your credit accounts.

11. Create Multiple Income Streams

Creating multiple income streams means diversifying your sources of income beyond your primary job. This can include part-time jobs, freelancing, side hustles, or passive income sources like dividend investing or rental properties.

Having multiple income streams can provide financial security, reduce dependence on a single employer, and accelerate progress towards financial goals.

It also allows for exploring personal interests and talents that might not be utilized in your main job.

Steps to Implement:

Assess Your Skills and Interests: Identify what skills you can leverage for additional income.
Explore Side Hustle Options: Look into freelancing, consulting, or starting a small business based on your skills.
Consider Part-Time Job Opportunities: Find part-time work that can fit around your main job’s schedule.
Research Passive Income Sources: Investigate options like dividend stocks, peer-to-peer lending, or real estate investing.
Create a Plan: Outline how you will manage your time and resources to build your additional income stream.
Start Small: Begin with manageable projects or investments and scale up as you gain confidence and experience.
Manage Your Time Effectively: Balance your side projects with your primary job and personal life.
Reinvest Earnings: Consider reinvesting your additional income to further grow your wealth.

12. Invest in Real Estate

Investing in real estate involves purchasing property to generate income or capital appreciation.

This can include buying residential properties to rent out, investing in commercial real estate, or flipping houses. Real estate investment can provide a steady cash flow, tax benefits, and diversification to your investment portfolio.

However, it requires significant capital, and the responsibilities of being a landlord or property manager can be substantial.

Steps to Implement:

Educate Yourself About Real Estate Investing: Learn the basics of real estate, including market analysis, financing, and property management.
Determine Your Investment Strategy: Decide whether you’re interested in long-term rental properties, flipping houses, or other real estate investments.
Assess Your Financial Situation: Ensure you have enough capital for down payments and unexpected expenses.
Research the Market: Identify promising locations based on factors like economic growth, rental demand, and property values.
Arrange Financing: Explore mortgage options and secure pre-approval.
Start with One Property: Begin with a single property to learn the ropes before expanding your portfolio.
Consider Property Management: Decide if you will manage the property yourself or hire a property management company.
Stay Informed and Compliant: Keep up-to-date with real estate laws, taxes, and market trends.

13. Shop Smart

Shopping smart involves making informed and strategic purchasing decisions to maximize value while minimizing costs.

This means actively looking for discounts, comparing prices across different retailers, and being mindful of the quality and necessity of items. Smart shopping isn’t just about spending less; it’s about spending wisely.

This approach helps in stretching your budget further, saving money that can be allocated to savings or investments.

Steps to Implement:

Compare Prices: Before making a purchase, compare prices from different stores or online platforms to find the best deal.
Use Coupons and Discount Codes: Look for coupons, promo codes, and cashback offers.
Sign Up for Alerts: Subscribe to newsletters or alerts from your favorite stores to stay informed about sales and special offers.
Buy in Bulk: Purchase non-perishable items in bulk to save money in the long run.
Consider Second-Hand Items: Explore thrift stores, garage sales, or online marketplaces for gently used items.
Wait for Sales: Delay purchases, especially for big-ticket items, until sales periods like Black Friday or end-of-season sales.
Evaluate Quality vs. Price: Opt for products that offer the best balance of quality and cost, avoiding cheap items that won’t last.
Plan Purchases in Advance: Avoid impulse buys by planning your purchases and sticking to a list.

14. Avoid High-Fee Financial Products

High-fee financial products, like certain mutual funds or investment accounts with high management fees, can significantly erode investment returns over time.

Being wary of these products means actively seeking out investments and accounts with lower fees, which allows more of your money to grow.

Understanding fee structures and how they impact your investments is crucial for efficient financial management.

Steps to Implement:

Understand Fee Structures: Learn about different types of fees, such as management fees, transaction fees, and performance fees.
Compare Investment Options: Look at various investment products and compare their fee structures.
Read the Fine Print: Carefully review the terms and conditions of any financial product for hidden fees.
Consider Index Funds or ETFs: These typically have lower fees compared to actively managed funds.
Negotiate Fees: In some cases, fees may be negotiable, particularly with higher investment amounts.
Use Robo-Advisors: Consider using robo-advisors, which often have lower fees compared to traditional investment management.
Regularly Review Your Investments: Keep an eye on the fees you’re paying and switch to lower-cost options if necessary.
Ask Questions: Don’t hesitate to ask your financial advisor or investment firm about the fees you’re being charged.

15. Utilize Tax-Advantaged Accounts

Tax-advantaged accounts, like Health Savings Accounts (HSAs), Individual Retirement Accounts (IRAs), and 401(k)s, offer tax benefits that can lead to significant savings over time. Contributions to these accounts may be tax-deductible, grow tax-free, or allow tax-free withdrawals, depending on the type of account.

Maximizing contributions to these accounts can reduce your taxable income and enhance your savings for future needs, such as healthcare expenses or retirement.

Steps to Implement:

Identify Eligible Accounts: Determine which tax-advantaged accounts you’re eligible for, such as an IRA, HSA, or 401(k).
Understand Contribution Limits: Be aware of the annual contribution limits for each type of account.
Automate Contributions: Set up automatic transfers to ensure you consistently contribute to these accounts.
Balance Contributions with Other Goals: Allocate your finances between tax-advantaged accounts and other financial goals.
Monitor Legislative Changes: Stay informed about changes in tax laws that may affect these accounts.
Plan for Withdrawals: Understand the rules for withdrawing funds from these accounts to avoid penalties.
Seek Professional Advice: Consult a tax professional or financial advisor to optimize your use of these accounts.
Review Annually: Each year, review your contributions and adjust as needed based on changes in income, tax laws, or financial goals.

16. Practice Frugal Living

Frugal living involves adopting a lifestyle that emphasizes spending less and prioritizing value and efficiency in daily expenses.

This doesn’t necessarily mean living a life of deprivation; rather, it’s about making more mindful and deliberate choices about spending.

By finding ways to reduce expenses in various aspects of life, from housing and transportation to groceries and entertainment, you can maintain or even enhance your quality of life while saving more money.

Steps to Implement:

Evaluate Your Expenses: Identify areas where you can reduce spending without significantly impacting your lifestyle.
Adopt DIY Approaches: Where possible, do things yourself instead of paying for services, like home repairs or cooking at home.
Reduce Utility Costs: Implement energy-saving measures to lower electricity, water, and gas bills.
Optimize Food Spending: Plan meals, shop with a list, buy in bulk, and reduce dining out.
Seek Affordable Entertainment: Look for free or low-cost leisure activities and events.
Buy Quality Over Quantity: Invest in durable items that may cost more upfront but will last longer.
Use Public Transportation: Consider public transport, carpooling, or biking to save on commuting costs.
Avoid Impulse Purchases: Wait before making non-essential purchases to decide if they are really necessary.

17. Review and Adjust Your Financial Plan Regularly

A financial plan is not a one-time setup but a dynamic roadmap that should evolve as your life changes.

Regularly reviewing and adjusting your financial plan ensures that it remains aligned with your current goals, life situation, and financial market changes.

This could involve revising your budget, changing your investment strategies, or updating your retirement planning based on new circumstances like a change in income, family composition, or economic conditions.

Steps to Implement:

Schedule Regular Reviews: Set a regular schedule, such as quarterly or biannually, to review your financial plan.
Assess Changes in Income or Expenses: Update your plan to reflect any significant changes in your financial situation.
Adjust Savings and Investment Goals: Modify your goals based on life changes like marriage, parenthood, or career shifts.
Rebalance Investment Portfolio: Ensure your investments align with your current risk tolerance and goals.
Update Retirement Plans: Adjust your retirement savings plan to account for changes in income, retirement goals, or market conditions.
Review Insurance Needs: Regularly evaluate your insurance coverage to make sure it’s adequate for your current situation.
Check Your Debt Situation: Adjust debt repayment plans if your income or expenses have changed.
Stay Informed About Economic and Tax Changes: Incorporate any relevant financial market or tax law changes into your plan.

18. Focus on Passive Income

Passive income involves earning money with minimal day-to-day effort. It’s a way to make your money work for you, rather than relying solely on active income (like your salary).

Examples include earnings from rental properties, dividends from investments, royalties from intellectual property, and income from automated business ventures.

Building passive income streams can provide financial security and can be a key component of achieving financial freedom.

Steps to Implement:

Identify Potential Passive Income Sources: Research different passive income options and assess which align with your skills, interests, and financial capabilities.
Invest in Dividend-Paying Stocks: Start with investments that provide regular dividends.
Consider Real Estate Investing: Look into rental properties or real estate investment trusts (REITs).
Explore Online Business Opportunities: Consider setting up online businesses that can generate income with minimal ongoing effort.
Create Intellectual Property: Write a book, develop an online course, or create digital products that can generate royalties.
Maximize Retirement Account Earnings: Invest in retirement accounts that can grow over time, providing income in later years.
Automate a Business: If you own a business, implement systems and processes that allow it to run with minimal direct involvement.
Reinvest Earnings: Use the income generated from these sources to invest in more passive income opportunities.

19. Invest in Dividend-Paying Stocks

Investing in dividend-paying stocks involves purchasing shares of companies that regularly return a portion of their profits to shareholders in the form of dividends.

These stocks can provide a steady stream of income, in addition to potential capital appreciation from the increase in stock value.

They are particularly attractive for investors seeking regular income, such as retirees, or those looking to reinvest dividends to grow their investment portfolio.

Steps to Implement:

Research Dividend-Paying Companies: Look for companies with a strong history of paying dividends. Focus on those with stable earnings and a good track record of dividend growth.
Understand Dividend Yields: Learn how to calculate and assess dividend yields to compare different stocks.
Diversify Your Portfolio: Invest in a variety of dividend-paying stocks across different industries to spread risk.
Consider Dividend Reinvestment Plans (DRIPs): These plans automatically reinvest dividends to purchase more shares, compounding your investment over time.
Monitor Dividend Stability and Growth: Regularly check the companies’ dividend payout history and their future dividend-paying potential.
Stay Informed About Market Trends: Understand factors that might impact the stock market and dividend-paying stocks.
Balance Your Portfolio: Ensure that dividend stocks are balanced with other types of investments to maintain a diversified portfolio.

20. Use Financial Planning Tools

Financial planning tools, including apps and software, offer a convenient way to manage personal finances.

These tools can help with budgeting, tracking expenses, managing investments, planning for retirement, and more.

By providing insights into your financial health, they can aid in making informed decisions, setting financial goals, and staying on track to meet those goals.

Steps to Implement:

Identify Your Needs: Determine what aspects of your finances you need help with, such as budgeting, investment tracking, or retirement planning.
Research Different Tools: Explore various financial planning apps and software, considering features, usability, and security.
Try Free Versions or Demos: Many tools offer free versions or trial periods, allowing you to test them before committing.
Integrate with Your Accounts: Link your bank accounts, credit cards, and investment accounts for real-time tracking and analysis.
Set Up Alerts and Notifications: Use the tool’s alert system to stay informed about important financial events or milestones.
Regularly Update and Review: Keep the information up-to-date and regularly review your financial status using the tool.
Ensure Security: Make sure the tool has strong security measures to protect your financial data.

21. Educate Children About Money

Teaching children about money involves imparting knowledge and skills related to financial literacy, including the value of money, budgeting, saving, and responsible spending.

This education is crucial for preparing them to manage their finances effectively as adults.

It can start with basic concepts for younger children and evolve into more complex financial topics as they grow older.

Steps to Implement:

Start with Basic Concepts: Teach young children about currency, counting money, and simple transactions.
Introduce the Concept of Earning: Explain how money is earned through work or chores.
Encourage Saving: Help them start a piggy bank or a savings account to save money for specific goals.
Teach Budgeting: As they get older, involve them in family budgeting or help them create their own budget for their allowances.
Discuss Smart Spending: Teach them to compare prices and make informed purchasing decisions.
Introduce Banking and Interest: Explain how banks work and the concept of interest.
Talk About Credit and Debt: For teenagers, discuss credit cards, loans, and the importance of avoiding high debt.
Involve Them in Financial Planning: Include them in discussions about family financial planning, investments, and financial goals.
Provide Resources: Give them books or resources suitable for their age to learn more about money management.

22. Maintain Good Health

Maintaining good health is an essential aspect of financial planning, often overlooked in favor of more direct financial strategies.

Good health can lead to reduced medical expenses, fewer missed work days, and a better quality of life, which all contribute to financial stability.

It involves regular physical activity, a balanced diet, adequate sleep, stress management, and regular medical check-ups. Investing in your health now can prevent costly medical treatments and chronic health issues in the future.

Steps to Implement:

Adopt a Healthy Diet: Focus on balanced, nutritious meals with plenty of fruits, vegetables, and whole grains.
Exercise Regularly: Incorporate a routine of physical activity into your daily life, whether it’s walking, jogging, gym workouts, or sports.
Get Adequate Sleep: Ensure you are getting enough restful sleep each night.
Manage Stress: Practice stress-reduction techniques like meditation, yoga, or hobbies.
Regular Health Check-Ups: Schedule and attend regular medical check-ups and screenings.
Avoid Harmful Habits: Stay away from smoking, excessive alcohol consumption, and other unhealthy behaviors.
Stay Informed: Educate yourself about common health risks and how to prevent them.
Invest in Health Insurance: Make sure you have adequate health insurance coverage to reduce out-of-pocket medical costs.

23. Plan for Retirement

Planning for retirement involves setting financial goals for your retirement years and creating a strategy to achieve them.

This includes estimating the amount of money you will need to retire comfortably, considering factors such as your desired lifestyle, expected lifespan, health care needs, and inflation.

It also involves saving and investing wisely during your working years to accumulate the required funds. A solid retirement plan can ensure financial independence and security in your later years.

Steps to Implement:

Determine Retirement Needs: Estimate how much money you’ll need annually in retirement, considering your desired lifestyle, health care, and other expenses.
Start Early: Begin saving for retirement as early as possible to take advantage of compound interest.
Maximize Retirement Account Contributions: Contribute as much as you can to your 401(k), IRA, or other retirement accounts, especially if your employer offers matching contributions.
Invest Wisely: Choose a mix of investments suited to your age, risk tolerance, and retirement timeline.
Regularly Review Your Plan: Assess your retirement plan periodically and adjust contributions or investments as needed.
Consider Inflation: Make sure your retirement savings account for the impact of inflation over time.
Plan for Healthcare Costs: Include potential healthcare expenses in your retirement budget.
Seek Professional Advice: Consult with a financial advisor for personalized retirement planning advice.

24. Avoid New Debt

Avoiding new debt is crucial for maintaining financial stability and working towards financial freedom.

This involves being cautious about taking on additional liabilities, such as loans or credit card debt, that can hinder your ability to save and invest.

It means living within your means, carefully considering the necessity and impact of any new debt, and prioritizing paying off existing debts.

Steps to Implement:

Assess Necessity Before Borrowing: Carefully consider whether taking on new debt is absolutely necessary and if there are other options available.
Create and Stick to a Budget: Live within your means to avoid the need for additional debt.
Build an Emergency Fund: Have savings set aside for unexpected expenses to avoid relying on credit.
Use Credit Cards Wisely: If using credit cards, pay off the balance in full each month to avoid interest charges.
Prioritize High-Interest Debt: Focus on paying off high-interest debts first.
Read Loan Agreements Carefully: Understand the terms, interest rates, and fees of any new loans before committing.
Consider Long-Term Impact: Think about how new debt will affect your future financial goals and plans.
Seek Alternatives to Borrowing: Explore other options like saving for a purchase, buying used, or using layaway plans.

25. Regularly Review Expenses

Regularly reviewing your expenses involves consistently monitoring and evaluating where your money is going.

This practice helps in identifying spending habits, ensuring that your spending aligns with your financial goals, and spotting areas where you can cut back.

By keeping a close eye on your expenses, you can make informed decisions about your budget, avoid financial pitfalls, and better manage your money.

Steps to Implement:

Track Your Spending: Use a budgeting app, spreadsheet, or a simple notebook to record all your expenses.
Categorize Expenses: Organize your spending into categories like housing, food, transportation, entertainment, etc.
Set a Regular Review Schedule: Dedicate time weekly or monthly to review your expenses.
Compare Against Your Budget: Check how your actual spending compares to your planned budget.
Identify Trends or Issues: Look for patterns, such as recurring unnecessary expenses or areas where you consistently overspend.
Adjust Your Budget as Needed: Make changes to your budget based on your review to better align with your financial goals.
Set Spending Limits: If certain categories are consistently high, consider setting stricter spending limits.
Look for Savings Opportunities: Use this review as an opportunity to find ways to reduce costs, like canceling unused subscriptions or switching to more affordable service providers.

26. Increase Your Financial Literacy

Increasing your financial literacy means improving your understanding of financial concepts, products, and strategies.

This encompasses a wide range of topics, including budgeting, saving, investing, tax planning, retirement planning, and understanding credit and debt.

Enhancing your financial literacy empowers you to make better financial decisions, navigate the financial marketplace more effectively, and achieve your financial goals.

Steps to Implement:

Read Books and Articles: Start with reputable financial books and articles that cover fundamental concepts.
Take Online Courses or Attend Workshops: Enroll in courses or workshops that focus on personal finance.
Listen to Financial Podcasts: Find podcasts that discuss various aspects of personal finance.
Follow Finance Blogs and News: Stay updated with financial news and follow blogs for ongoing insights and tips.
Join Financial Forums and Groups: Participate in online forums and local groups where you can learn from others’ experiences.
Consult With Financial Experts: Talk to financial advisors or professionals to clarify complex topics.
Practice What You Learn: Apply your newfound knowledge to your personal finances, starting with small, manageable changes.
Stay Curious and Updated: Regularly seek new information, as financial markets and tools are always evolving.

27. Use a Financial Advisor

Using a financial advisor involves seeking professional advice for complex financial decisions or overall financial planning.

A financial advisor can offer expertise in areas such as investment management, retirement planning, tax planning, estate planning, and risk management.

They can provide personalized advice tailored to your specific financial situation, goals, and risk tolerance, helping you make more informed financial decisions.

Steps to Implement:

Determine Your Needs: Identify what areas of your finances you need help with.
Research Potential Advisors: Look for advisors with strong credentials, good reviews, and experience relevant to your needs.
Check Credentials and Background: Verify the advisor’s qualifications, such as CFP or CPA, and check for any history of complaints or disciplinary actions.
Understand the Fee Structure: Know how the advisor is compensated, whether it’s fee-only, commission-based, or a combination.
Prepare for the Initial Meeting: Gather financial documents and think about your financial goals and questions.
Ask Questions: Inquire about their investment philosophy, experience, services provided, and how they will communicate with you.
Review Their Recommendations: Carefully consider the advice provided and how it aligns with your goals.
Regularly Review the Relationship: Assess whether the advisor continues to meet your needs and adjust or change advisors if necessary.

28. Invest in Index Funds

Investing in index funds is a strategy where you invest in a fund that tracks a specific market index, such as the S&P 500.

These funds aim to mirror the performance of the index they track, offering broad market exposure and diversification. Index funds are known for their lower fees compared to actively managed funds, as they require less management.

This investment approach is praised for its simplicity, cost-effectiveness, and the potential to yield solid returns over the long term, aligning well with a buy-and-hold investment philosophy.

Steps to Implement:

Understand How Index Funds Work: Learn about index funds, how they operate, and why they are a popular investment choice.
Choose the Right Index: Decide which market index (or indices) aligns with your investment goals. Common indices include the S&P 500, NASDAQ, and international indexes.
Select a Fund: Research different index funds that track your chosen index, comparing fees and performance history.
Open a Brokerage Account: If you don’t already have one, open a brokerage account that allows you to buy index funds.
Consider Dollar-Cost Averaging: Regularly invest fixed amounts to spread out purchases over time, mitigating the impact of market volatility.
Monitor the Market, But Avoid Over-Trading: Keep an eye on market trends but adhere to a long-term investment strategy.
Rebalance Your Portfolio as Needed: Ensure your overall investment portfolio remains aligned with your risk tolerance and investment goals.
Review Fund Performance Periodically: Check your index fund’s performance relative to its benchmark index and overall market conditions.

29. Avoid Lifestyle Inflation

Lifestyle inflation occurs when your spending increases as your income grows, often leading to little or no financial progress despite higher earnings.

Avoiding lifestyle inflation involves conscious spending and saving decisions, ensuring that increases in income translate to increased savings and investments, rather than just increased spending.

This discipline is crucial for achieving long-term financial goals, such as buying a home, saving for retirement, or building wealth.

Steps to Implement:

Stick to a Budget: Even as your income increases, maintain a budget that accounts for your needs and some wants, while prioritizing savings.
Prioritize Saving and Investing: Allocate a significant portion of any income increases directly to savings, emergency funds, retirement accounts, or investments.
Set Financial Goals: Have clear goals for your additional income, like paying off debt or saving for a down payment on a house.
Resist Peer Pressure: Don’t let social pressures lead to unnecessary spending.
Reward Yourself Moderately: It’s okay to enjoy some of your extra income, but do so in moderation.
Focus on Long-Term Benefits: Consider the long-term benefits of saving and investing extra income versus the short-term gratification of spending it.
Evaluate Needs vs. Wants: Regularly assess whether your spending aligns with your needs and long-term goals, rather than just wants.
Practice Mindful Spending: Be deliberate about your purchases and lifestyle upgrades.

30. Set Financial Goals

Setting financial goals involves defining clear, achievable objectives for your finances, both in the short and long term.

These goals provide direction and purpose for your financial decisions and can range from saving for a vacation or an emergency fund to investing for retirement or paying off debt.

Effective financial goals should be specific, measurable, attainable, relevant, and time-bound (SMART). Having these goals helps to stay focused and motivated in managing your finances.

Steps to Implement:

Identify Your Goals: Determine what you want to achieve financially, both in the short term (like saving for a holiday) and long term (like retirement).
Make Your Goals SMART: Ensure each goal is Specific, Measurable, Achievable, Relevant, and Time-bound.
Prioritize Your Goals: If you have multiple goals, prioritize them based on importance and urgency.
Create a Plan: Develop a plan for how you will achieve each goal, including the steps you need to take and the resources required.
Set Milestones: Break larger goals into smaller, manageable milestones to track progress and stay motivated.
Review and Adjust Regularly: Regularly assess your progress and make adjustments as needed, considering changes in your financial situation or priorities.
Automate Savings for Your Goals: Use automatic transfers to dedicated savings accounts for specific goals.
Celebrate Achievements: Acknowledge and celebrate when you reach a goal to encourage continued success in your financial journey.

31. Learn to DIY

Learning to Do It Yourself (DIY) involves acquiring skills to complete tasks and projects on your own that you would typically pay others to do.

This can include home repairs, basic car maintenance, cooking, gardening, and numerous other activities.

Embracing a DIY approach can lead to significant savings as you avoid labor costs and often learn to source materials more economically.

Beyond the financial benefits, DIY projects can be fulfilling and enjoyable, offering a sense of accomplishment and the opportunity to develop new skills.

Steps to Implement:

Identify Opportunities for DIY: Assess areas in your life where you can replace paid services with DIY efforts, such as home improvement, cooking, or car maintenance.
Start with Basic Projects: Begin with simple, low-risk projects to build your confidence and skills.
Educate Yourself: Use resources like online tutorials, books, and community classes to learn new skills.
Invest in Basic Tools: Acquire the necessary tools and materials for your chosen DIY projects.
Practice Safety: Always prioritize safety by understanding and adhering to safety guidelines for any project you undertake.
Join DIY Communities: Engage with online forums, social media groups, or local clubs where you can share tips and get advice.
Track Your Savings: Keep a record of how much money you save through your DIY efforts to stay motivated.
Enjoy the Process: Remember that DIY is not just about saving money but also about the satisfaction of learning and accomplishing tasks on your own.

32. Invest in ETFs

Investing in Exchange-Traded Funds (ETFs) means buying shares in funds that track indexes, commodities, bonds, or baskets of assets like an index fund, but which trade like stocks on an exchange.

ETFs often come with lower fees than mutual funds and provide instant diversification, as each ETF holds various stocks or assets.

They offer flexibility, liquidity, and tax efficiency, making them a popular choice for both novice and experienced investors looking to diversify their portfolios.

Steps to Implement:

Understand Different Types of ETFs: Learn about various ETFs, including stock ETFs, bond ETFs, sector and industry ETFs, commodity ETFs, and international ETFs.
Determine Your Investment Goals: Align your choice of ETFs with your financial goals, time horizon, and risk tolerance.
Research ETFs: Look into different ETFs’ performance history, fees, and the assets they hold.
Open a Brokerage Account: Ensure you have a brokerage account that allows you to trade ETFs.
Consider Market Timing: While ETFs can be traded like stocks, a long-term investment approach is often more beneficial.
Diversify Your Portfolio: Use ETFs to diversify across different asset classes, sectors, and geographical regions.
Monitor Your Investments: Regularly review your ETF investments as part of your overall investment strategy.
Rebalance as Needed: Adjust your ETF holdings as necessary to maintain your desired asset allocation.

33. Understand Risk Tolerance

Understanding risk tolerance is about knowing how much financial risk you are willing and able to take with your investments.

It’s a crucial factor in creating an investment strategy that aligns with your comfort level, financial goals, and time horizon. Risk tolerance can be influenced by factors such as age, income, investment goals, and personal comfort with volatility.

Knowing your risk tolerance helps in selecting the right mix of investments and avoiding undue stress or financial loss.

Steps to Implement:

Assess Your Financial Situation: Consider your income, debts, savings, and financial obligations to gauge how much risk you can afford to take.
Evaluate Your Investment Goals and Time Horizon: Short-term goals usually require a more conservative approach, while long-term goals can accommodate more risk.
Complete a Risk Tolerance Questionnaire: Many financial websites and advisors offer questionnaires to help determine your risk tolerance.
Reflect on Past Experiences: Consider how you’ve reacted to past market downturns or volatility.
Consult a Financial Advisor: A professional can provide insight into your risk tolerance and help tailor your investment strategy accordingly.
Review and Update Regularly: As your life circumstances change, so might your risk tolerance, requiring adjustments to your investment approach.
Balance Your Portfolio: Align your investments with your risk tolerance, diversifying to manage risk effectively.
Stay Informed: Educate yourself about different types of investment risks and how to mitigate them.

34. Seek Out Financial Education Resources

Seeking out financial education resources involves actively looking for and utilizing various materials and platforms to enhance your understanding of financial concepts and management.

This can include reading books, listening to podcasts, enrolling in online courses, and attending seminars. These resources cover a wide range of topics from basic budgeting and saving to advanced investment strategies and financial planning.

Engaging with these resources can empower you to make better financial decisions and stay updated on best practices.

Steps to Implement:

Identify Learning Goals: Determine what financial topics you need or want to learn more about.
Find Reputable Books: Look for highly recommended books on personal finance.
Listen to Podcasts: Subscribe to financial podcasts that match your interests and skill level.
Enroll in Online Courses: Take advantage of online courses, many of which are available for free or at a low cost.
Attend Workshops and Seminars: Participate in local or online workshops and seminars on financial topics.
Join Online Forums and Communities: Engage with online communities where you can discuss and learn about personal finance.
Apply Your Knowledge: Put the concepts you learn into practice to improve your personal financial situation.
Regularly Update Your Knowledge: Financial markets and regulations change, so it’s important to stay current.

35. Utilize Employer Benefits

Utilizing employer benefits means taking full advantage of the financial benefits your employer offers.

These benefits can include retirement plans like 401(k)s, health insurance, life and disability insurance, employee stock purchase plans, tuition reimbursement, and more.

Maximizing these benefits can significantly enhance your financial well-being and provide savings and investment opportunities that you may not have otherwise.

Steps to Implement:

Understand Your Benefits Package: Thoroughly review your employer’s benefits package to understand what is offered.
Maximize Retirement Contributions: If your employer offers a 401(k) match, contribute at least enough to get the full match.
Use Health Savings Accounts (HSAs) or Flexible Spending Accounts (FSAs): If available, use these accounts for tax-advantaged health care spending.
Enroll in Insurance Plans: Take advantage of any employer-provided life, disability, or health insurance.
Explore Other Benefits: Look into any additional benefits like employee stock purchase plans, tuition assistance, or wellness programs.
Stay Informed About Changes: Keep up-to-date with any changes to your benefits package.
Regularly Review Your Utilization: Make sure you are using all the benefits available to you and that they align with your current needs.
Consult HR for Clarification: If you have questions or are unsure about how to best use your benefits, talk to your human resources department.

36. Stay Informed About Economic Trends

Staying informed about economic trends involves keeping up-to-date with global and local economic indicators, market trends, and financial news.

This knowledge can be crucial in making informed decisions about investments, saving, spending, and career planning.

Understanding how different economic factors such as interest rates, inflation, employment rates, and GDP growth can impact your personal finances and the broader market is essential for effective financial planning.

Steps to Implement:

Follow Financial News: Regularly read or watch financial news from reputable sources.
Understand Economic Indicators: Learn about key economic indicators and how they impact the economy and markets.
Subscribe to Economic Newsletters: Sign up for newsletters from trusted financial news outlets.
Use Financial Apps and Tools: Utilize apps that provide real-time economic data and analysis.
Attend Economic Forums and Webinars: Participate in discussions and educational sessions on current economic conditions.
Connect with Financial Professionals: Engage with financial advisors or economists who can provide insights into economic trends.
Analyze Impact on Personal Finances: Consider how economic trends may affect your job, investments, and overall financial strategy.
Stay Agile in Your Financial Planning: Be prepared to adjust your financial plans in response to significant economic changes.

37. Practice Mindful Spending

Mindful spending is about being conscious and intentional with your purchases, ensuring that each one aligns with your values and financial goals.

It involves pausing and thinking before making a purchase, assessing whether it’s a need or a want, and considering the long-term impact on your finances.

Mindful spending helps prevent impulsive buys, reduces financial stress, and allows for more savings and investment towards important financial goals.

Steps to Implement:

Evaluate Each Purchase: Before buying, ask yourself if the item is necessary and how it fits into your budget and goals.
Wait Before Purchasing: Implement a waiting period (like 24-48 hours) for non-essential purchases to avoid impulse buying.
Track Your Spending: Regularly monitor where your money is going to understand your spending habits better.
Set Spending Priorities: Determine what’s most important to you and allocate your budget accordingly.
Limit Temptations: Unsubscribe from marketing emails, avoid browsing online stores, or steer clear of shopping centers if you’re prone to impulse buys.
Reflect on Past Purchases: Periodically review past purchases to identify if they brought lasting value or satisfaction.
Create a Budget: Have a clear budget that includes discretionary spending, and stick to it.
Seek Value: Look for quality and longevity in products, not just the lowest price.

38. Diversify Investments

Diversification is a key investment strategy that involves spreading your investments across various asset classes, sectors, and geographical regions to reduce risk.

By not putting all your financial resources in one type of investment, you can mitigate the impact of market volatility. Diversification can include a mix of stocks, bonds, real estate, commodities, and more.

The goal is to create a balanced portfolio that can withstand market ups and downs.

Steps to Implement:

Understand Different Asset Classes: Learn about various types of investments, including stocks, bonds, ETFs, mutual funds, and real estate.
Assess Your Risk Tolerance: Align your investment mix with your risk tolerance and financial goals.
Start with Broad-Based Funds: Consider mutual funds or ETFs that offer built-in diversification.
Expand Across Industries and Geographies: Invest in different industries and global markets to spread risk.
Consider Alternative Investments: Look into alternative asset classes like commodities or private equity for further diversification.
Regularly Review and Rebalance Your Portfolio: Adjust your investments periodically to maintain your desired level of diversification.
Avoid Over-Diversification: Too much diversification can dilute potential returns, so find a balance.
Seek Professional Advice: Consult with a financial advisor for personalized diversification strategies.

39. Save for Children’s Education

Saving for children’s education involves setting aside funds to cover future educational expenses, such as college tuition and related costs.

Considering the rising cost of education, starting early can make a significant difference.

Investment vehicles like 529 plans offer tax advantages and are specifically designed for education savings. These plans can greatly ease the financial burden when the time comes for your children to attend college or university.

Steps to Implement:

Start Early: Begin saving for your child’s education as early as possible to take advantage of compounding interest.
Research Education Savings Options: Look into different options like 529 plans, Coverdell Education Savings Accounts, or custodial accounts.
Understand the Tax Benefits: Familiarize yourself with the tax advantages and implications of each savings option.
Set a Savings Goal: Estimate the future cost of education and set a realistic savings goal.
Create a Dedicated Savings Plan: Open a dedicated account for education savings and start contributing regularly.
Automate Contributions: Set up automatic transfers to the education savings account to ensure consistent contributions.
Involve Family Members: Encourage contributions from grandparents or other relatives as gifts for birthdays or holidays.
Monitor and Adjust the Plan: Regularly review the account’s performance and adjust contributions or investments as needed.

40. Monitor Your Credit Report

Monitoring your credit report involves regularly reviewing your credit history as reported by credit bureaus to ensure accuracy and detect any signs of fraud or identity theft.

A credit report includes details about your credit accounts, payment history, and any inquiries made about your credit. Keeping an eye on this report helps maintain a healthy credit score, which is crucial for securing loans, credit cards, and sometimes even employment.

Spotting and addressing errors or fraudulent activity early can save you from financial and legal headaches down the line.

Steps to Implement:

Obtain Your Credit Reports: Regularly request a free credit report from the major credit bureaus (Equifax, Experian, and TransUnion).
Review for Accuracy: Carefully check for any errors or unfamiliar activities in your accounts and inquiries.
Report Discrepancies Immediately: If you find errors or signs of fraud, report them to the credit bureau and the relevant financial institution immediately.
Understand Your Credit Score: Learn how different elements in your credit report affect your credit score.
Set Up Alerts: Many credit reporting services offer alert systems to notify you of changes in your credit report.
Protect Your Personal Information: Be vigilant about sharing personal and financial information to prevent identity theft.
Follow Up on Corrections: After reporting errors, follow up to ensure they have been corrected.
Regularly Update Personal Information: Keep your contact details up to date with the credit bureaus.

41. Use Cash Back and Rewards Programs

Utilizing cash back and rewards programs means taking advantage of the incentives offered by credit cards, loyalty programs, and retailers to earn rewards on your purchases.

These rewards can come in the form of cash back, points, travel miles, discounts, or other benefits.

When used wisely, these programs can save you money or offer valuable perks without extra costs, as long as you’re not spending more just to earn rewards.

Steps to Implement:

Choose the Right Program: Select credit cards and loyalty programs that align with your spending habits and offer rewards that you’ll actually use.
Understand the Rewards Structure: Be clear about how you earn rewards and what they’re worth.
Pay Balances in Full: To truly benefit, pay off your credit card balances each month to avoid interest charges.
Use Rewards Credit Cards for Regular Purchases: Use your rewards card for everyday purchases to accumulate rewards faster.
Stay Informed About Promotions: Look out for special promotions or bonus categories that offer additional rewards.
Redeem Rewards Regularly: Regularly redeem your rewards to prevent them from expiring.
Avoid Overspending: Don’t let the pursuit of rewards lead you to spend more than you normally would.
Track Your Rewards: Keep an eye on your rewards balance and ensure your points are correctly credited.

42. Consider a Financial Mentor

Having a financial mentor involves seeking guidance and advice from someone with more experience and knowledge in financial matters.

This mentor could be a seasoned investor, a financial planner, or anyone who has successfully navigated the financial world. A mentor can provide personalized advice, share valuable insights, help you avoid common pitfalls, and motivate you to reach your financial goals.

The right mentor can be an invaluable asset in your journey to financial literacy and independence.

Steps to Implement:

Identify Potential Mentors: Look for individuals within your network, professional organizations, or community who have a solid track record in financial management.
Reach Out Respectfully: Approach potential mentors politely, expressing your desire to learn and explaining why you think they would be a good mentor.
Set Clear Objectives: Be clear about what you hope to gain from the mentorship.
Prepare for Meetings: Come to meetings with specific questions or topics you want to discuss.
Be Open to Advice: Be willing to listen and consider the advice and perspectives offered by your mentor.
Act on Guidance: Apply what you learn to your financial practices.
Respect Their Time: Be mindful of your mentor’s time and show appreciation for their guidance.
Build a Lasting Relationship: Aim to build a relationship that is beneficial and respectful, beyond just financial advice.

43. Plan for Tax Efficiency

Planning for tax efficiency involves structuring your finances in a way that minimizes the amount of taxes you pay.

This includes understanding how different investments, savings accounts, and financial decisions impact your tax liability.

Effective tax planning can involve choosing tax-advantaged accounts (like Roth IRAs or 401(k)s), timing the sale of assets to reduce capital gains tax, and taking advantage of tax deductions and credits.

By optimizing your tax situation, you can retain more of your earnings and grow your wealth more efficiently.

Steps to Implement:

Understand Tax Implications: Learn about different tax implications for various types of accounts and investments.
Use Tax-Advantaged Accounts: Maximize contributions to accounts like IRAs, 401(k)s, and HSAs.
Consider Tax-Efficient Investments: Invest in tax-efficient vehicles like index funds or municipal bonds.
Be Strategic with Asset Sales: Time the sale of assets to minimize capital gains taxes.
Keep Records of Tax-Deductible Expenses: Maintain thorough records of expenses that may qualify for tax deductions.
Seek Professional Advice: Consult a tax advisor for tailored strategies and to stay updated on tax laws.
Regularly Review Tax Strategy: Reassess your tax planning strategy annually to adapt to any changes in your financial situation or tax laws.
Utilize Tax Credits: Take advantage of any applicable tax credits, such as education credits or energy efficiency credits.

44. Be Patient and Persistent

Achieving financial freedom is often a long-term process that requires patience and persistence.

It involves setting goals, creating a plan, and consistently sticking to it, even when progress seems slow. Patience is key to weathering market fluctuations and seeing the long-term growth of investments.

Persistence is crucial for maintaining good financial habits, like regular saving and investing, even when faced with setbacks or challenges.

Remembering that financial freedom is a marathon, not a sprint, can help maintain focus and motivation.

45. Celebrate Financial Milestones

Celebrating financial milestones involves acknowledging and rewarding yourself for achieving significant financial goals.

This can be as simple as paying off a debt, reaching a savings target, or sticking to a budget for a certain period.

Recognizing these achievements provides positive reinforcement, boosts motivation, and helps maintain momentum towards your larger financial goals.

Celebrations should be proportionate and not undermine the achievement itself (e.g., going into debt to celebrate paying off debt).

Final Thoughts

There you go.

Trust me, I feel extremely free after publishing this list. LOL!

Because I know if you utilize some, if not all of these strategies, you would be financially free in no time.

So, which strategy are you going to implement first?

Let me know in the comments.