Regardless of where we are in life, we can all learn something about money and how to better prepare for our future. There are a few tips for financial freedom given below: 

1.  Automate your investing: Experience has proven that if we have to make a conscious effort every time we need to invest we will start with good intentions and then miserably fail a few months later. If you can automate your savings, whether by using your PF, or ECS mandate from your account you will finish ahead. The rule here is if you don't see it, you won't realize it and you won't miss it. Some of these deductions will reduce your taxable income and save you further on taxes (see your tax advisor for more info on this).  A good rule of thumb is to set aside 10% of your income. 

2.  Real estate: If you haven't already, buy a house. Renting will only make your landlord (hint - house owner) rich. Regardless of what the immediate market does real estate is one of the best long-term investments you can make. It also has many advantages including deductions for interest on loan and principal repayment as well. Real estate will always go up. People will always need a roof over their head. 

3.  Medical and life insurance: You need to have them, if you think you don't just ask anyone that didn't have it when something unexpected happened. If you love your family, they are a must. But, on that note, don't get deterred by the insurance premium. Buy term life insurance. 20 years will give good term coverage and if you follow all of these tips you won't need anything beyond that. Endowment policies only make your agent rich and really never builds any value for the huge costs involved. Term life can be purchased cheap over the internet at great savings. Medical insurance is also a must which also gives tax benefits. If you have an adequate employer plan, by all means use it. 

4.  Don't ever buy new cars: It is a fact that new cars lose 25-30% of their value the moment you drive it off the lot. Let someone else pay for that depreciation and get a two or three-year-old car. With the latest technological advances, cars can easily go 2,50,000 km and above.  A two or three-year-old vehicle with 40,000 km on it will save you not only in initial cost, but also on your insurance, and taxes. 

5.  Get out of debt: Work out a plan to get the high interest debt paid off. Be wiser with your purchases - do you really need that 60-inch flat screen tv? a BMW you cannot afford? Etc. Cut up all cards but 1 (for emergencies you should have 1 credit card). 

6.  Never burn bridges: If you happen to leave your current employer, leave on good terms. Find a replacement if time permits. This will put you in a good light with your former management and can result in a good reference, another job, a call-back etc. Never leave on bad terms. It’s just not good Karma. Also, it won't hurt to take former business associates and customers to lunch every now and then. This will keep you in tune to the industry, give you many additional contacts afford you future favours. Don't be afraid to ask for a favour every once in a while. Karma is the big rule here -when you help others you will inadvertently help yourself. 

7.  Give back: Once you've made it it is only fair that you help others less fortunate than yourself. Regardless of your beliefs when you donate time and money to help others you will inadvertently help yourself. You will feel great. Also, the cardinal rule of karma is that when you give you will get many more times what you give back. Take the time to help by volunteering your time. Even if it is 1 hour a week, you will help improve someone else's life. Volunteer, it will make you a better person.