Financial Freedom is a phrase that gets thrown around a lot, especially in the entrepreneurial space! It is used to motivate someone to achieve it. I hear it in podcasts, books, conversations, etc. One can’t obtain something without having a clear definition of what it is. So what is it ?
I define having personal financial freedom as the following :
1) Being in control of your own schedule (for the most part) . I think of this as not having to ask anyone if you can be free for your child’s birthday, any holiday, or vacation week. You decide when you work and when you do not.
2) Having enough income to support your desired lifestyle. This means that whatever lifestyle you desire, whatever your vision is for your life, you have the income to support living it out… both the time and the cost of it. And you also have extra money and extra time so that you can give some away to others.
3) The subject of money and work are not creating stress in your life. You are at peace with your income and your way of making a living. Most financial stress comes from not achieving points 1) and 2) above… but what if you have both control of your schedule and plenty of money to live off it ? Can you still be stressed ? You bet ! You have to ask yourself what is causing you the stress, and fix it as soon as possible. Financial freedom should mean living with a peaceful state of mind.
I hope this helps !
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