Hello friends happy, happy Friday I hope everyone is fine and in good health.
Financial freedom. It sounds good. But what is it really? Is it freedom to buy new shoes on a whim? Splurge on extravagant vacations? Buy that expensive handbag you’ve always wanted? Freedom to never ever work again? Freedom to never worry about money again?
Who wouldn’t wish to be free of money worries? There’s an old saying that money can’t buy happiness. Possibly so, but irrespective of how true that is, it’s equally evident that most else being equal having money can get rid of lots of problems as well as make life a whole lot easier.
We all fancy nice things and making more money. On the other hand, just a tiny percentage of us in reality, realize the financial freedom we long for. All of us wish to have enough money so that we do not have to bother about money again. The real question is, “Have you been ready to accomplish it or not?” What’s promising is that there are more individuals achieving financial freedom quicker now than ever before. And the and the question is- How can this be achieved ? Everyone’s end financial goal should be to have a retirement that they can look forward instead of dreading those years because of the lack of money saved for it.
True financial freedom is the feeling of being without financial stress.With financial freedom, you have the independence to live stress-free. If an issue comes up, you don’t even bat an eye because you are secure in your finances to pay for the fix. Nothing impacts your finances. You know exactly what you can spend, are free to do what you want (within your budget), when you want and without worrying about financial consequences
We live in a world of mortgages, car payments, student loans and credit card balances so it’s not surprising that we have surrendered to the fact that debt is just part of our lives. But does it have to be? It is possible to be debt free and to spend your money on things that matter to you. Things that help you and your family feel good and create memories that will last a lifetime. Imagine a time when you are mortgage-free and you could take trips around the world whenever you wanted.
You can achieve financial freedom and here’s how…
Just like losing weight, breaking free from debt is not something that will not happen overnight. It will require resolve so the first step you need to take is to commit to achieving financial freedom.
CREATE A BUDGET
The next step is probably the most painful. You need to take a hard look at your finances and create a budget. This is often tough because many of us are in complete denial or even totally clueless as to the real state of our finances. This is what lands us in financial difficulty in the first place.
Gather all of your bills. Now, write down exactly what your expenses are each month plus what you usually spend on variables like groceries and entertainment—expenses that you won’t necessarily have a bill for. I highly recommend tracking your spending for at least a month to get a good idea of how much you spend and on what. This way you can be realistic when you go to write your expenses.
SAVE FOR EMERGENCIES
If you spend all of your money on bills and paying off your loans, what will you do if something goes wrong and you have no money saved? Inevitably, you’ll have to borrow the money or use a credit card and doing either of those things will dig you deeper into debt. So, while it may seem counter-productive, saving an emergency fund is necessary to achieve financial freedom.
Sometimes we spend money on occasionally, we mindlessly do things that cost us money like leaving the lights or fan on after we’ve left the room. Be aware of your habits because they could blow your budget items and services that we can do without. Occasionally, we mindlessly do things that cost us money like leaving the lights or fan on after we’ve left the room. Be aware of your habits because they could blow your budget.
Adopting smart personal finance habits can make a significant difference in the future because it’ll help us save money, pay off debt, and manage our money, which in turn will allow us to enjoy the rewards of a financially free future.
If you’re struggling financially and have dreams of becoming financially secure, rest assured that such dreams are possible. Give yourself some time, patience and the discipline to incorporate some of the financial freedom tips I’ve outline above, and you’ll be able to achieve financial freedom in the future.
Be kind to yourself always, until next time…………………………