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1. Financial freedom is probably near the top of every
person's wish list. No one wants to spend his entire life
working a job he doesn't like simply because he needed
the money. However, despite the unanimous opinion that
this type of freedom is something to be sought after,
majority of the people living today are not working
towards it - either because they don't know how, or
because they don't think it is feasible in their own lives.

2. But financial independence is always a possibility to those
who understand the process of wealth creation. The
formula is simple: earn more than you spend, and save the
rest for future investments that may lead to passive
income. This simple formula is easier said than done
though. There are plenty of obstacles that may hinder you
from reaching your goals. If you want to be wealthy you
have to know what these obstacles are and you have to
find ways to avoid them. Here are a few obstacles that
you'd best avoid:

3. 1. DebtThe most destructive force to your financial health
is bad debt. Many people have lost their homes and other
property to bad financial decisions that involve taking on
large debt. The process of wealth creation can't begin as
long as you have debts. It's just not possible. The first
thing you have to do, before you even dream of financial
freedom, is to get out of debt as soon as possible. The
longer you stay in debt, the farther you will be from your
dream. Debt is a cancer to your financial well-being, and
similar to a medical illness, prevention is the best cure -
just don't get into debt. Clamp down on your expenses;
take a second job; cut up your credit cards; do what you
have to do in order to avoid debt.

4. 2. LuxuryAdvertisements everywhere will try to convince
you that you deserve to stay at the most expensive hotels,
drink the best champagne and wear the most expensive
jewelry. Don't be silly. The only people who "deserve"
such extravagance are those who can afford to throw
money away because of the ridiculous wealth they've
built. Wealth creation begins with discipline. You have to
be able to delay gratification. Every day you will have to
choose long-term and permanent financial freedom over
transient pleasures. Only then will you have a shot at
financial independence.

5. 3. Saving Money for Its Own SakeHave you ever met a
person who became wealthy just by saving all his money
in a bank? Great entrepreneurs save money in order to be
able to afford ventures that make money. The process of
wealth creation is supposed to create wealth, not keep
wealth in a bank. You can achieve financial freedom by
turning your money into assets that can serve a future
purpose. The value of money itself decreases over time.
You have to turn that money into an investment that
increases in value, like real estate in a developing area or
stocks of a rising company.

6. 4. ViceVices are not only expensive; they're also bad for
your health. Let's say you smoke a pack of cigarettes a day
and each pack costs $5. In a year, you'd have spent $1825.
In 20 years, you'd have spent $36,500, not including the
medicine you would have spent on the ill effects of such a
vice. That is money that every single person who doesn't
smoke saves just by not being involved in one vice. Just
imagine how much you would save if you were able to
eliminate all your vices. Financial freedom is achieved
easier by people free from such expenses.

7. 5. "Get Rich Quick" SchemesWealth creation is a long
process. It's not just a matter of "earning" a lot of money.
It's also about developing the right values over that
period. It's about learning through experience. It's about
overcoming obstacles. People who like short-cuts may hit
the jackpot and earn big, but chances are, they'll lose the
wealth they gained just as quickly. Even worse, their
eagerness to "get rich quick" might make them vulnerable
to swindlers. If you encounter a deal that sounds too good
to be true, chances are, it is. Stay away from "get rich
quick" schemes.

8. Wealth creation is a process that takes time. Don't rush
through it. Learn to love the process. Cherish every
experience. The path to financial freedom is one of the
most exciting journeys you'll be making in your lifetime.
Try to recall your high school or your college experience. It
may seem like a long time while you're there, but as soon
as it's over, you can only hope to do it again. One day
you'll be looking back on this process with joy and
appreciate every setback that taught you a lesson, every
deal that built a business relationship, and every dollar
earned honestly. Enjoy the process and you'll build great
wealth in no time at all.

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