Financial freedom is a topic that many have talked about. A lot can be said about it but for me it is very simple and basic what it implies. For me the essence of financial freedom is to not being limited by your finances. I’m sure that someone out there is thinking right now that it would be nearly impossible to achieve financial freedom if that is the case because if you’re not limited by your finances you need enough money to be able to buy everything there is to buy. It is true that you would need to be extremely rich to be able to do that, however, when I’m saying not being limited by your finances I don’t mean that you should be able to buy anything just for the sake of being able to buy. What I mean with not being limited by your finances is that you should be able to do the things in your life that you want.
Your Financial Freedom
What financial freedom is for you is personal, just like many other parts of your finance (it is called personal finances after all). What limits you financially depends on what you value in life and how you want to live your life. It is not the first time I write that it depends on what you value in life and it is because everything in your personal finances are connected and it is all based on what gives value in your life. Take some time to reflect over in what situations you are feeling limited because of your finances.
Why Financial Freedom
Having financial freedom will not only stabilize your life but it also takes away finance related stress, it open opportunities and it prevents financial crisis. Making the effort to achieve financial freedom is an investment that leads to a better life where you are in control. Once it has been achieved it has become a part of your lifestyle and a habit you barely notice.
Achieving Financial Freedom
Most likely you were not born with financial freedom and it is a process to achieve it. Not being limited by finances means that you need to build a capital for yourself, in other words, you need savings. Having savings turns everything around and it enables you to want -> spend -> refill instead of the other way around to want -> save -> spend. In some situations you might miss the opportunity if you have to wait until you have saved the sufficient amount and some things might not be possible at all.
To achieve financial freedom you are therefore required to make an effort in the beginning, you need to control yourself and your expenditures to create your savings. Once this has been done all you need is to maintain your savings while enjoying the benefits of not being limited by your finances.
Don’t miss part two that is released in two weeks and explains more in details the steps of achieving financial freedom!