Memorial Day - Financial Freedom Series - Part 1

What Does Financial Freedom Mean to You?

Financial freedom has to be personal. Dream big and get specific about your goal.

What does financial freedom look like for you? Maybe it looks something like this:

  • Freedom to choose a career you love without ever worrying about money

  • Freedom to take vacations that you love since you love to travel

  • Freedom to pay cash for luxury items, a car, a boat, etc.

  • Freedom to retire early.

Learn How To Budget

Budgeting is important to get your finances on the right track, but that is just the start. Even once you achieve financial freedom, a great step is to complete a unique budget every month. No matter how much money you have, even if you don't like the word budget, you need a plan. 

Clean Up Your Finances

Most people have made some mistakes with finances in the past. That’s okay, you aren't alone. If you want financial freedom, you have to clean up the mess before you can start building wealth and feel truly good about money.

That means if you have debt like credit cards, student loans or car loans, it’s time to get serious about your money.

Paying off your debt helps you lay a foundation to build wealth that will last and build true financial freedom.

Evaluate Your Career

Your biggest wealth-building tool is your income. So when it comes to choosing a career, you want to be realistic. Finding a job that you enjoy that also supports your goals of financial security will help you enjoy the journey to financial freedom.

Here are a few things to evaluate.

Where do you want to be in 10 years? Start with the end in mind. Does this job make sense with your overall financial goals?

Is there income-earning potential? Even if you’re not making your dream salary now, do you have opportunity for your income to increase as your value increases.

Can you grow? Are there opportunities for you to move up and grow personally and professionally?

Do you enjoy the work? Don’t spend a career at a job you can't stand. Find something you’re passionate about that allows you to use your gifts and skills. This might seem easier said than done. Really try to evaluate what you like and what you can earn.

Do the benefits support your goals of financial freedom? Your options for retirement savings and health insurance can dramatically affect your ability to build wealth.

Your choice of career can have a big impact on your long-term financial freedom. plan