How to Stop Living Paycheck to Paycheck: How to take control of your money and your financial freedom starting today Volume 2, #2

By Phil Wall

Are you one of those who earn enough passive  income to cover your expenses? OR do you solely depend on your work income to maintain your standard of living?

If you are one of those who are struggling to gain financial freedom, read on.

In this book you will find:

•    Steps to Financial Freedom •    What is the difference between freedom and financial independence? •    Principles of Financial Statements •    Benefits of Financial Statements •    Steps to effective analysis of Financial Statements

Delve into this adventure of the study of financial intelligence, and do not forget about consulting the other volumes of this series!

• Language: English
• Publisher: Aiditorial Books
• Release date: Jan 6, 2023
• ISBN: 9798215236703

Phil Wall

Phil Wall grew up quite poor and had learned the value of "money" through hard work and perseverance. He has worked numerous low wage jobs like being a waiter, fast food counter cashier, and dishwasher. However, he managed to get a college degree and started to work at numerous banking positions. He enjoyed writing about money and helping others through writing books.

Book preview

How to Stop Living Paycheck to Paycheck

How to take control of your money and your financial freedom starting today

Volume 2

By

Phil Wall

Copyright 2020- All rights reserved.

The following book is written with the goal of providing information as accurate and reliable as possible. In any case, the purchase of this book takes into account that both the publisher and the author are not experts in the topics covered and that the recommendations or suggestions made here are for entertainment purposes only. Professionals should be consulted as necessary before undertaking any of the actions mentioned here.

This statement is considered fair and valid by both the American Bar Association and the Committee of the Publishers Association and is considered legal throughout the United States.

In addition, the transmission, duplication or reproduction of any of the following works, including specific information, shall be considered an illegal act regardless of whether it is in electronic or printed form. This extends to the creation of a secondary or tertiary copy of the work or a recorded copy and is only permitted with the express written consent of the author. All additional rights reserved.

The information on the following pages is generally considered to be a truthful and accurate description of the facts and, as such, any lack of attention, use or misuse of the information in question by the reader will cause the resulting actions to be solely within his or her competence. There are no scenarios in which the publisher or author of this book can be held responsible for any difficulties or damages that may occur to them after making the information presented here.

In addition, the information on the following pages is intended for informational purposes only and should therefore be regarded as universal. As befits its nature, it is presented without warranty with respect to its prolonged validity or provisional quality. The trademarks mentioned are made without written consent and can in no way be considered as sponsorship of the same.

Table of Contents

Chapter 1: What is financial freedom?  4

What is the difference between financial freedom and financial independence? 4

What is financial independence? 5

What's the difference? 6

Chapter 2: Steps to follow to achieve financial freedom: 7

Chapter 3: What are financial statements? 10

Aims and Objectives 10

Rules and Regulations 10

Audit and legal implications 11

Financial Reports 11

Limitations on Financial Statements 12

Chapter 4: Principles of Financial Statements 14

Chapter 5: Benefits of Financial Statements 25

Advantages and disadvantages of financial statements 26

6 Steps to Effective Analysis of Financial Statements 27

Bibliographic References 29

Chapter 1: What is financial freedom?

This is the moment when you do not depend on external income to maintain your standard of living, thanks to the fact that your passive income is sufficient to cover your expenses. Therefore, you no longer need a job to live.

Passive income is money that a person earns without depending on how much time is invested.

For example:

●  Interest and earnings on your investments.

●  Rental of real estate or parking.

●  Income earned through a website, etc.

It is