Paul Clitheroe’s Tips To Achieving Financial Freedom

Paul Clitheroe offers 5 tips to help people achieve financial freedom. If put in place, these 5 steps can help you reach your financial goals faster than you ever thought possible.

Financial freedom is just 5 steps away from achievement. Anyone can achieve financial freedom if they are serious about making it happen. Here are 5 simple, yet important steps from Paul Clitheroe, to help you get things put into place.

5 Steps to financial freedom

1. Make a plan

The only way to truly achieve financial freedom is by formulating a plan. You will need to look at your current financial situation and finalise your goals. If you don't have a plan, you will have no objectives and goals. This means that you have absolutely no chance to succeed. You will need to get control over your budget with a strong plan.

2. Control your spending habits

Paul says that you need to control your spending, which in fact means that you need to spend less money than what you are earning. If you are spending all the money that you are bringing in then that means that you are left with absolutely nothing left to invest.

3. Make regular investments

Paul states that investing on a regular basis is a very important part of your plan, and can be a part of your financial planning and budgeting. You need to set apart some money on a regular basis is that is meant for investments only.

4. Minimise your taxes

Of course, when you are looking at minimizing your taxes to help you gain financial freedom it must be done legally. You may need to go to an account to get this done, but it may be worth it to find out what extra deductions you are eligible to use. You may be able to take a part of your salary to put into a tax saving plan. You should also watch for any bank fees that you are paying, such as late fees or extra charges, and in particular take a look at your credit card fees and make sure that you are not losing money by incurring too many of them.

5. Reduce your debt

Your personal debt needs to be reduced, and if you can get this done then you will be well on the road to financial freedom. Take a look at your loans and see what kind of interest rates you are paying on them. There may be ways of reducing your rates.

If you follow these simple and logical 5 steps to financial freedom, you will find that you can get out of debt, and have more disposable income while doing so. There is a way out, and all you really need you to do is make a final decision to get there.

Get in contact with a financial planner now

Back to top
Was this content helpful to you? No  Yes

Related Posts

Ask an Expert

You are about to post a question on

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our Terms of Use, Disclaimer & Privacy Policy and Privacy & Cookies Policy.

30 Responses

  1. Default Gravatar
    KarenAugust 23, 2016

    What is the best term deposit rate going and who can you trust with your hard-earned cash?

    • finder Customer Care
      MayAugust 23, 2016Staff

      Hi Karen,

      Thank you for your question. As is a comparative financial service, we can’t actually recommend one specific service or banking product to our users as the best option depends entirely on your own financial situation.

      If you are looking for a term deposit account, you may like to compare your options on this page. If you want to check which of the listed TD products that would give you higher interest earnings, I suggest that you enter the amount of your deposit and the term in the calculator on the top most part of the table then click calculate. The results will be provided on the column with a heading “interest earned,” which is beside the green buttons.

      Hope that helps.


  2. Default Gravatar
    KimberlyDecember 22, 2015

    We are currently looking at financing for a new car. What would be your best advice with this? We are able to add it to our home loan (home loan is an investment – we currently live in a house with all expenses paid) at 4% compared with another finance company that has offered us 8%. Should we pay a deposit in order to get repayments down?

    • finder Customer Care
      SallyDecember 23, 2015Staff

      Hi Kimberly,

      Thanks for your question.

      As a financial comparison service, we can’t provide you with any specific advice as the ‘best’ option will always depend on your unique financial situation and needs.

      You can compare credit card finance options for car loans here.

      Otherwise, you can consider a personal car loan here.

      I hope this has helped.



  3. Default Gravatar
    GeorgeOctober 6, 2014

    I am wanting to set up savings accounts for my 2 kids but something similar to Super – so they at least cant access it till 21? can you please advise any funds that will let me do this? I don’t want a regular savings account.

    My super is in high growth and doing really well – anything similar?
    many thanks

    • finder Customer Care
      ElizabethOctober 7, 2014Staff

      Hi George,

      Thanks for your question.

      You may want to consider a trust account. These type of accounts allow you to place restrictions or provisions on the account, such as them not being able to access the money until they reach a certain age. You can also consider a term deposit where you can set the length of the term and know how much you’ll have at the end. While we don’t allow you to compare specific ‘children’s’ savings accounts, most major banks offer these accounts.

      Hope this has helped.



  4. Default Gravatar
    TerriOctober 2, 2014

    I have just recently been returned a considerable amount of money from a fraudulent scheme.

    I am very wary of investing in high risk opportunities as you might imagine however I have a lot of lost money and time to make up for as I am a senior citizen.

    Could you advise me on a very safe bet, one with more interest than the big 4 are offering?

    Thanking you in anticipation

  5. Default Gravatar
    TonyFebruary 14, 2014

    What are the basics of lending out money with regard to legal documents, contracts, etc.. in Australia and internationally?
    Any advice would be appreciated!

    • finder Customer Care
      JacobFebruary 15, 2014Staff

      Hi, Tony.

      Thanks for your question.

      I can only provide general comment relating to Australian practices. Lenders in Australia are subject to the National Consumer Credit Protection Act 2009. The Australian Securities and Investment Commission is the governing body for credit providers. If you’re looking to become a credit provider, you will first need to obtain your credit licence and your Australian Financial Services Licensing.

      It’s advised that you speak to your legal representative for further information on this question.

      I hope this helps.

  6. Default Gravatar
    IreneOctober 30, 2013

    As a pensioner living only on the age pension, I applied for a credit card but was refused because I did not have any debts and I pay rent. I need the credit card to give hotels etc. for security when I travel. How can I get around this without carrying large amounts of money to leave as security at these places.

    Thank you,


    • finder Customer Care
      JacobOctober 31, 2013Staff

      Hi Irene.

      Thanks for your question.

      Which card did you apply for?

      There are certain eligibility requirements that you’ll need to meet to get your application approved. Some low rate credit cards, for instance, require that you earn over $15,000 p.a., have a good credit history and be over the age of 18.
      It might be a good idea to visit your lending institution and have a chat about getting a credit card. They may be able to give you an idea of your eligibility before you go through the motions and apply for the product. Hotels often do require that you leave a credit card as deposit, however, they may be willing to accept a Visa Debit Card if you have one. You can find a comparison of debit cards on this page. It may be an idea to phone ahead and see if the hotel will accept a debit card as a deposit.

      I hope this helps.

    • Default Gravatar
      IreneOctober 31, 2013

      Thank you Jacob, your advice was very helpful. I tried at the ANZ bank which has my account. I do have a debit visa card and the Sydney hotel where I have booked will take the debit card. I will look into other credit cards for future travel.
      Thanks again

  7. Default Gravatar
    DeniseAugust 3, 2013

    I have received paperwork to withdraw my super due to hardship, financial reasons as I have been informed I have no more income protection benefits. The $15k would see me debt free. I will be having to survive on centrelink benefits. I have not owned property for a number of years due to marriage breakup and have solely raised my children. They are all adults now & unaware of my circumstances. I do not own a vehicle. My question is should I clear all my debts and try to look for part time employment & start over I am 60yrs.What do I need to do if this happens?

    • finder Customer Care
      ShirleyAugust 5, 2013Staff

      Hi Denise,

      Thanks for your comment.

      This question is best directed at a financial counsellor. ASIC provides a free financial counselling service that you may want to contact.

      Hope this helps,

  8. Default Gravatar
    AnnaJuly 22, 2013

    Should we use super to pay off an investment loan if my husband can no longer work due to a workplace injury ?

    • finder Customer Care
      JacobJuly 22, 2013Staff

      Hi Anna. Thanks for your question. It can be hard to get superannuation released early, unless extreme financial hardship is proven or it’s released on specified compassionate grounds. There may also be some tax implications for early release.
      Please consider using specialist financial advice in a situation like this. I hope this helps. Jacob.

  9. Default Gravatar
    ShirleyMay 7, 2013

    Eight years ago I took out an equity loan on my house. Because of finance problems and believing the equity loan would be paid out from my estate when I died, I let the loan be as it was. it was about five years ago that I discovered I was paying $600.00 plus interest. My loan was for roughly $54,000.00 it is now $99.000.00. I have asked the financier if the interest can be lowered but, they have said, ‘no’. For the past eighteen months I have been paying $250.00 a fortnight but my balance stays the same. Being an elderly pensioner, and with other payments, I wondered if there is a way to have the bank at least lower their interest, even for a short time. The loan was for both my daughter and me, but she is unable at this time to help with payments as she had a stroke a few months ago. She is on the mend but has trouble finding finances to help me. I would like to hear any help you can advise me on. Thank you. Shirley

    P.S. On other things, my bank financier has been nothing but helpful to me over the years, and I will stay with my bank as I have been a customer with them for over sixty years. My first joined the bank when I was twelve.

    • finder Customer Care
      JacobMay 8, 2013Staff

      Hi Shirley. Thanks for your question.
      You may want to consider refinancing your loan. You can do this either with the same lender or a lender of a different choice. If your current lender is unwilling to give you a reduction in your interest rate, you may want to consider taking your business elsewhere. Whether or not you will be accepted by a different lender will depend on a number of factors, mainly the amount of equity left in your current property and your current income. You can add your daughter to the mortgage if you choose to refinance, but this means she will also be liable for the debt. We have made a guide on refinancing your home loan, you can find it here. I don’t believe the lender will be able to offer a temporary reduction in your interest rate. Please let me know if there’s anything else you need. Jacob.

  10. Default Gravatar
    KeithMay 7, 2013

    I have $268,000 mortgage, $40,000 debt consolidation loan, $25,000 in credit cards, $10,000 car loan, bills total $1000 a week and I make $1100 a week with 2 kids at home, 4 and 11 years. How can I possibly ever get out of debt without going bankrupt or insolvent, I’m 43 and running out of time. HELP!!!!!

    • finder Customer Care
      JacobMay 7, 2013Staff

      Hi Keith. Please refer to our article, ‘the best way to pay down $50K in debt‘. You may be able to find some information here that may help you with your situation. Please stay in contact and let us know if you have any questions after reading the article. Jacob.

Ask a question
Go to site