At first glance, the title may seem like a paradox. Reason being is that by definition “loaning” and “financial freedom” are polar opposites in nature. The concept of loaning is not a stranger to us, it is simply the act of borrowing with the intention of giving it back. Surely at some point in the many conversations we have had through the course of our lives, horror stories of crippling debt because of loans have been a topic once or twice around the campfire. Stories like these give loaning a wide berth. However, strategic and intentional loaning can pave the road to financial freedom.
And the million dollar question here is, how? How can loaning get you to a point where you can consider yourself financially free? The answer is surprisingly simple- so simple in fact that it can be easily overlooked: GOAL SETTING. The goals you set will be your blueprint as you choose from the many avenues that will lead to your goal of financial freedom. Will your goal take the form of investments? A business you want to start? The clearer the blueprint, the easier it is to identify what you’ll need to be able to build it. Identify the means of which you want your financial freedom to take shape and commit to it.
The kicker here is that you won’t likely have the capability to finance whatever route you choose. Because the reality is, to set up whatever investment scheme or business you have in mind, it is definitely going to cost more than what you may have on hand. This is where the concept of loaning comes in. This is an important catalyst simply because it gives you that financial elbow room to move around and build on your goal. In entering a loan, the best tool you can take with you is STRATEGY.
Whatever shape or form your Als. But a strategy chops it down into little pieces that can be manageable. Setting milestones in your strategy will help in moving you along. Milestones help you track your progress and in turn regulates the loans you plan on making. Loaning by milestones tend to help you complete checkpoints to your goals and helps you plan on succeeding loans for the milestones to come.
Always consider accounting for circumstances where things could possibly go south. An effective strategy must be flexible, allowing you to make adjustments or changes when things go wrong and don’t turn out as expected. And of course take into account your capacity to pay back the loans you make. The pitfall with loans is thinking that it’s free money and this is the kind of thinking that leads to debt. Consider as well having a good credit record by paying on time if not earlier than the deadline and avoiding any overdue payments. A good credit record opens avenues to bigger loans in the future, lessen interest rates and in some cases, have more flexible terms open to you.
At the end of the day, strategic and goal oriented loaning is a resource for you to realize your idea of financial freedom. Clear cut goals and targeted strategies are important determining factors. Through QLO, many employees from Metro Manila have been able to build their future and pave a way to financial freedom. The loaning faculty that QLO offers is flexible enough to meet your needs and is convenient to use. TO find out more about how QLO can help you reach your goal, be sure to browse through our products or contact us through any of our communication channels.