Achieving financial freedom is a goal for many people. It generally means having enough savings, investments, and cash on hand to afford the lifestyle we want for ourselves and our families and a growing nest egg that will allow us to retire or pursue the career we want without being driven by earning a certain amount each year.
Why financial freedom is important
Financial freedom is reached when you have enough in passive income to cover all of your monthly expenses and don’t need to worry about making money at all. This is early retirement.
While you may or may not set the goal of financial freedom, achieving financial independence has a lot of benefits. Here’s a few:
- Financial Freedom allows you to pursue your passions.
- You have the freedom to spend time with the people you love
- Your decisions are not centered around finance
- It’s perfectly doable, regardless of whether you earn a low or high income
How to Achieve Financial Freedom?
Financial freedom means that you get to make life decisions without being overly stressed about the financial impact because you are prepared. You control your finances instead of being controlled by them.
The path to financial freedom isn’t a get-rich-quick strategy. And financial freedom doesn’t mean that you’re “free” of the responsibility of handling your money well. Quite the opposite. Having complete control over your finances is the fruit of hard work, sacrifice, and time. And all of that effort is worth it! Here’s how to begin your own journey to financial freedom!
- Make a Budget
- Pay Off Credit Cards in Full
- Create Automatic Savings
- Start Investing Now
- Watch Your Credit
- Continuous Education
- Proper Maintenance
- Live Below Your Means
- Get a Financial Advisor
- Take Care of Your Health
I personally recommended a book” for Achieving Financial Freedom, It’s called “The Barefoot Executive” by Carrie Wilkerson, the New York Times bestselling author.
Inside “The Barefoot Executive” you’ll learn:
The Barefoot Executive will help jump-start your transition. You’ll learn:
- Your “why” — the most important question. Why do you want to work for yourself?
- What type of business best suits your experience and talents.
- How to stay focused on your goal and avoid distractions.
- Where to find the support that will accelerate your success.
- How to link your business to the right market.
Disorder holding you back? Well, this manual may be the most important book that you ever read. The power is in your hands! Being organized is the key to succeeding in both your personal and professional life. Whatever your clutter is, “The Barefoot Executive” will be your go-to resource for learning how to be your own boss and achieving financial freedom.
I’m loving the things I’m learning through “achieving financial freedom.” What are some other benefits you’ve experienced? Drop me a line below!