You are not truly free until you are financially free. After all, money is the tool that we all use to move around in this world. You need it to buy assets, and do the things that you want. Without money, you will be perpetually dependent on others. All of your movements will rely on another person’s whims which may not always be favorable. Most adults are partially independent in the sense that they make their own money but are still reliant on their next paycheck to make ends meet. They also have debts to pay and obligations to fulfill. What is financial freedom? It means breaking away from these bonds thanks to all of the money you’ve saved and invested.
Tame Your Anxieties
Everyone has a different lifestyle so What is financial freedom will vary from person to person. Some might achieve it with less than a million dollars to their name. Others would need several millions before they can claim it. It usually takes many years of frugality just to save enough money to reach this level. However, the hardship is worth it as you have already secured your future. Instead of endlessly worrying about how you are going to pay your bills, you can just sit back and relax knowing that you have the means to provide for your family for years to come.
Learn to Say No
Most people have to make compromises in order to survive. They might stay at a job they hate just because they need to have a steady income for their mortgage. They might endure abuse from their spouse for years because they are financially dependent. They might go to parties they aren’t particularly excited about because it can help them network and advance their careers. If they could reach financial freedom, then they could assert themselves with fear of the repercussions. They can begin to say no to what they hate and say yes to what they want.
Achieve Your Goals
They can also take proactive steps to realize their long-time goals. Most people have a wish list that remains on the backburner because of the more immediate need to make money now. If they already have the funds to retire, then they can focus on these dreams one by one. They can finally achieve them systematically now that they have the time and the resources to devote to these forgotten passions.