What Is Financial Freedom To You?
What is financial freedom to you? At Be Secure Financially we have talked a lot about financial freedom, but financial freedom, security, independence, stability is different for everyone. For some is having a billion dollars, for others it is having a million dollars, for others it is having one hundred thousand dollars. For many it isn't a set dollar amount, it is knowing that you are free from the worry of money.
Take some time to think about what financial freedom really means to you....
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What Does Your Financial Freedom Look Like?
Ask yourself a few questions to understand what financial freedom looks like.
Would you be financially free with the following:
No credit card debt
Owning your home, cars, etc. outright with no mortgages or rent
Freedom to travel
The ability to provide for your family
Never having to worry about money again
A few of the above might check off your financial freedom list, but it might not complete it. For example, $1,000,000 might be great, but how long will it last you? Would you have to make changes to your current lifestyle to sustain a million dollars? Most people would, or it may last them years, but then they wouldn't be completely financially independent.
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Write down what would make you financially free, or financially stable, or financially secure.
Paying off credit cards and having no debt might be the first step to financial freedom.
Having a certain amount of money in your bank accounts might be the next step.
Finding a job or owning a business that pays a certain amount might be another step.
Traveling to certain destinations might be another step on the journey.
Never having to worry about money again, knowing you can pay your bills, or maintain your lifestyle might be another destination on the path to financial freedom.
A great first and realistic step that you can stick to on your financial freedom path is to actually understand what would make you financially free.
Then with your next paycheck, start paying yourself with automatic payments, even if they are small. On Be Secure Financially there are many options for savings plans and challenges to help you start your financial independence journey today no matter how small your budget is. A financial freedom journey is just that, a journey. Just take that first step, and with that small first step you can begin to take control of your finances.