There is a lot of talk about financial freedom lately. The media has done its best to show us what it looks like, but we are still left with questions. What is real financial freedom? How do you get there? How can you know when you’ve made it?
Financial freedom has a lot to do with being able to put your money to work for you.
I believe that financial freedom has a lot to do with being able to put your money to work for you. It’s not just about having money, it’s about being able to use your money in ways that make sense for you.
Financial freedom is about having enough money so that when an opportunity comes up, like buying a house or starting a business, then you can take advantage of those opportunities because they’re available and affordable. Financial freedom means being able to do what you want with your money–whether that means saving up for retirement or taking an extravagant vacation every year (or both!).
A lot of people think that it’s just about having enough money, but the truth is that there are many other things that contribute to that.
The truth is, there are many other things that contribute to financial freedom. In fact, it’s not just about having enough money–it’s also about being able to put your money to work for you and giving yourself options in life.
Let me explain:
- Financial freedom is about having the ability to make more money. This means being able to earn an above-average income or even become an entrepreneur who owns multiple businesses (or at least one). You don’t need millions of dollars in savings before this happens; all it takes is hard work and dedication!
- Financial freedom is also about being able to put your earnings in high-earning investments so they grow faster than inflation over time without taking on too much risk (like losing everything). This way, when someone retires at 65 years old instead of 70 years old because they didn’t have enough saved up yet due their high cost-of-living expenses during those extra five years…they won’t be worried about how much longer until death hits them unexpectedly like a truck full speed ahead going 80 mph down Interstate 5 near downtown Los Angeles during rush hour traffic hours as everyone else tries desperately not get hit by said truck but alas…
But there is an important distinction between people who have enough money, but still feel like they’re not really living their life, and those who don’t have enough yet but are doing well.
But there is an important distinction between people who have enough money, but still feel like they’re not really living their life, and those who don’t have enough yet but are doing well.
The first group of people may be financially independent but still spend all their time working to earn more. They don’t really see the point of earning more unless it’s necessary for survival or security purposes (and even then, only if there’s something specific you want). This type of person often doesn’t enjoy life as much as someone who has both financial security and plenty of free time to spend on other things–like traveling or eating out at restaurants with friends on occasion.
For example, if you are paying off credit card debt and saving money while doing so, it might take a while depending on what rate of interest you’re getting charged on those cards.
For example, if you are paying off credit card debt and saving money while doing so, it might take a while depending on what rate of interest you’re getting charged on those cards. In this case, the more interest that is being charged to your account, the longer it will take to pay off your debt. The opposite is also true: if there isn’t any interest being charged on those accounts (or if there is a small amount), then your goal will be met much sooner because the principal balance will decrease much faster than if there were higher rates involved in paying back this loan/debt/finance obligation.
In short: paying down debt = good; paying off high-interest debts = even better!
But once you’re done paying them off, you should be able to use savings as income instead of continuing to pay interest on those debts.
But once you’re done paying them off, you should be able to use savings as income instead of continuing to pay interest on those debts.
This is a big deal! Savings is a form of income–something that can provide value to your life without requiring additional work from you (at least not right away). Interest on debt doesn’t count as income because it’s not something that produces value; rather it costs money and takes time away from other things in life that do produce value.
Financial freedom is about more than just having the ability to make more money
Financial freedom is about more than just having the ability to make more money, it’s also about being able to put your money to work for you, and not having to worry about bills or debt.
Having financial freedom means that you have options in life; unlike those who are enslaved by their job, or stuck in a cycle of spending on unnecessary items that they don’t need.
Financial freedom means being able to live your life without worrying about where your next meal will come from or where the next payment on your student loan needs to go. It’s having control over what happens with your finances so that it doesn’t control YOU!
Conclusion
The bottom line is that financial freedom isn’t just about having enough money. It’s also about being able to put your money to work for you in ways that will make it grow even faster than before. If you want to reach such a point, then there are many things–such as paying off credit card debt or saving more money–that can help bring about this kind of lifestyle change for yourself