What Is Financial Freedom 2016-11-27T00:12:35+00:00

What Is Financial Freedom

Financial Freedom means two things to me; Security and freedom. The security to know that we are living comfortably within our means now whilst also preparing for the future; and the freedom to control our time.

A lot of people think of financial freedom as early retirement; whilst early retirement is one of our goals, neither myself or my husband want to give up working. We want to work on projects that fill our hearts with happiness, helping others while we do the things we love.

The biggest thing that we want from Financial Freedom is the freedom to control our most valued possession, our time. We want to spend time with our children, to watch them grow, to see their school plays and bake for charity coffee mornings. We want to show them the world and have the time to help them follow their passions too.

How do we achieve Financial Freedom?

By paying off all our debt, and becoming debt free, so all the money we earn is our own

By having emergancy savings. By saving enough to cover our living expenses should we be affected by illness or unemployment (Usually 6 months income is recommended)

By having retirement savings, so that we can cover early retirement and life a comfortable lifestyle in old age from our savings

By having appropriate Insurance, to cover any unforseen health, car, or house problems

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How to achieve Financial Freedom?

I think the key to achieve financial freedom is to have a long-term plan. Firstly you have to assess what your goals are and where you currently stand, in order to make decisions on how you can improve. Debt is a huge burden and clearing it can lift a huge weight off your shoulders.

Unfortunately financial freedom is something that runs against the grain of todays society, that wants you to spend more and be a consumer. We are bombarded with advertising every single day telling us we need ‘things’ to make us happy.

In reality ‘things’ only make us happy for a small amount of time, and really happiness comes from the simple things. Like spending time with family, sharing experiences with the people we love, living in the moment, good music, a good book, a hot drink with friends or the laughter of children.

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