Financial freedom probably means different things to different people. Your idea of being financially free is formed by your culture, values, socio-economic status and many other variables. Financial freedom may mean being debt free. It could mean that you are able to do the things that you want, when you want them. For some, it may be as simple as not having to live paycheck to paycheck.
I recently ran across a definition of financial freedom that really resonated with me and I’d like to share it with you: Financial freedom means that when your life crumbles around you, the one thing you don’t have to worry about is money. Take a minute to reflect on that. Think about all the times you were stressed out because something happened and you had to figure out how much something would cost or where the money was going to come from.
Our cars break down, we get sick or injured, we have children, we lose friends and family, we move, we change jobs, and sometimes we just have a really crappy day. These things are stressful enough; we don’t need to stress over the financial implications of these as well. Just think about how awesome it would be if your car broke down and you didn’t have to worry about how to pay for it. Or what if you could take an extended time away from work to care for an ailing family member and not even have to think about money. Think about what financial freedom means to you and use that as motivation to do all the things you know you should be doing to be free. Let it motivate you to save more, invest more, spend less, and spend wiser. Then, when the world comes tumbling down around you, you can continue to breathe.