How I Achieved Financial Freedom In 12 Months

(Last Updated On: January 25, 2023)
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How I Saved Money


Are you sick of debt and living paycheck to paycheck? Have you ever wanted to take charge of your money and gain financial freedom? Well, I did just that in just 12 short months. Anyone can have the same success I did if they put in the effort. In this article, I’ll talk about how I went from having almost no savings to being financially free in just one year. 

Step 1: Set a Goal

Setting a clear and specific goal is the first step to reaching any goal. I was ready to change despite the difficulty. I wanted to put away $20,000 in a year. This may appear to be an ambitious goal, but I could achieve it with the right attitude and discipline. 

Step 2: Create a Budget

Making a budget is one of the most important things you can do to save money. It lets you keep track of your spending, see where your money goes, and figure out where you can save money.

First, I identified my expenses and created a budget that allowed me to live within my means. I made a budget by writing down all my fixed costs, like rent, utilities, and insurance, as well as my variable expenses, like groceries and fun things. Then, I decided how much I could spend each month in each category and made sure to stick to that number.

Step 3: Reduce Fixed Expenses

Getting rid of fixed costs is one of the best ways to save money. I first looked for ways to get my rent down. I found a roommate to split the rent and utilities, saving me hundreds of dollars each month. I also found ways to lower my other fixed costs, like getting a better deal on my car insurance.

Step 4: Cut Back on Variable Expenses

I also made a point of cutting back on my variable costs. I started by going out to eat and going to shows less. Instead, I started cooking at home more and found ways to have fun that was free or didn’t cost much. I also bought groceries and other necessities in bulk and at discount stores. I also reduced unnecessary spending by canceling subscriptions or services that weren’t essential.

Step 5: Increase Income

Another excellent way to save money is to earn more. I started by looking for ways to make more money at my current job, like taking on more tasks or asking for a raise. I also tried to find ways to make extra money, like freelance writing, mystery shopping, and starting a small business.

Additionally, I started investing in stocks, bonds, and mutual funds that had the potential for good returns in the future. This allowed me to build a portfolio of investments which, over time, has grown significantly. 

My second step was to create an emergency fund by putting aside money each month for unexpected costs. Once this was done, I focused on paying off all of my debt as quickly as possible by setting up automatic payments from my savings account every month so that I wouldn’t miss any charges or get into more debt.

Step 6: Invest in Your Future

It’s important to save money, but it’s also important to put money into your future. I started saving money in an account for retirement and buying stocks. I also started saving money in a bank account for a house down payment.


It may seem impossible to be financially free in 12 months, but it is possible with the right mindset and a few simple steps. You can save a lot of money in just one year by making a plan, setting a goal, making a budget, cutting fixed costs, cutting variable expenses, making more money, and investing in your future.

Achieving financial freedom in 12 months is an ambitious but achievable goal. It takes discipline, a well-thought-out budget plan, and a commitment to reaching your goals. 

It’s important to remember that financial freedom isn’t necessarily about having lots of money – it’s about having control over your finances and feeling secure and comfortable with your financial decisions. Remember that you can start saving money at any time.

By following the tips outlined in this article, you can be on track to achieving financial freedom in just one year. Begin working towards financial independence today. 


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