12/15/2023 0 Comments Financial freedomIf you want to fully change your financial future and become independent, you need to accept responsibility. Steps to help you achieve financial freedom: 1. And remember, don’t compare yourself to others, stay focused on your progress. You might reach this level faster pending on how aggressive you want to be with your income, budget, frugality, debt payoff, and investments. But if you are unsure where to begin, these are the important habits and steps to get you there. There are no secrets to achieving financial freedom and the process is straightforward. Being able to start a passion project, help others, etc.If I lose my job, can I cover the expenses for a while?.Getting to spend more time with family and friends, instead of constantly chasing a paycheck to cover expenses.The ability to travel and take a vacation without racking up credit card debt to pay for it.The freedom to choose what time to wake up (no alarms!) or when to work.For me, pursuing financial freedom meant: Surely there will be some overlap to the above, but you may have your own reasons. And so are your choices for wanting to pursue financial freedom. Remember, personal finances are PERSONAL. Retiring early before the traditional ages and living how you want.Having FU Money to do as you please without hurting your budget.Being able to pay cash for expensive items without racking up debt.Ability to go on family vacations without breaking the bank.Choosing a career you love or starting your own business.So what does financial freedom mean to you? I think it’s an important question to ask yourself before you begin to pursue financial changes. You are taking a step that unfortunately many people only dream about or don’t even worry about at all! There is certainly more to life than being r ich and wealthy, but having financial freedom ensures you live the life you want. If you are reading this article, then financial independence and freedom is clearly important to you or the idea of it gets you motivated. That is a huge sense of relief and heavy burden lifted from you - that’s what financial freedom is about!īut the idea of becoming financially free should also be about living your best life and having all your needs met, without relying on any job to ensure you are financially stable. Recessions can (and will) happen, along with unusual events like the pandemic of 2020 that wreaked havoc on businesses and jobs.īut when you obtain financial freedom, you won’t have to rely on the government or finding a job to ensure you and your family’s livelihood is intact. Your goal with financial freedom is to be prepared for the unexpected and not feel attached to a paycheck from your job. If you want to retire early, travel the world, pursue your own endeavors, or be completely stress-free when it comes to finances - mastering your money is key. How Much Money Do I need For Financial Freedom?įinancial freedom means that you have enough money saved and invested, that you can afford to live the life you want, on your terms.What Does Financial Freedom Mean to You?.
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