How to conquer genuine financial freedom

How to conquer genuine financial freedom
  • Financial freedom is the status of having enough income to pay for your living expenses for the rest of your life, without having to be employed or dependent on others.
  • You do not need to stop working to be financially free. Having the choice to stop, if you want, is what makes you free.

Genuine financial freedom should be conquered one day at a time. The key to achieving it is to start early.

I know I’m one of the lucky ones, as I’ve been able to buy my own home, travel extensively, and develop a successful career. I’ve even met people I’ve grown to love online and in real life. I have saved enough to cover more than ten years of my corporate net income. But I can’t help but wonder what should be achieved so I can fell genuinely financially free.

How many of us live in perpetual fear of financial ruin? How many of us are stuck in jobs we hate, because we can’t get over the fear of being stuck without an income? How many of us are just looking to get out of a job we hate simply because we’re afraid of not enjoying enough of life.

Choosing the path to be financially free

How many of us will give up on “sitting at our desk” for a moment, and start to get outside our comfort zone?

The question I’m asking is this: How many of us are willing to change?

How many of us will take steps to become financially independent, and take control of our financial lives? If you’re able to do this, you’ll not only be able to save money, invest it wisely, and retire on your own terms. You’ll also be able to have more freedom, be more independent, and be more fulfilled.

But the key to conquering genuine financial freedom is that you have to plan for it. You can’t just jump in, grab your credit card, and start spending. This is hard work, and it requires discipline. If you don’t make the tough decisions first, you’ll never know if you’re even capable of being free.

You have to ask yourself, “do I have the discipline to understand and control my costs?” If you really want to make changes, you have to ask yourself, “do I have the discipline to spend one extra minute each day, and go to bed on time?” If you still have doubts, then I encourage you to take action immediately.

If you don’t have the discipline, I encourage you to spend less time on the internet, check Facebook less often, and do what really matters to you. If you don’t have the discipline to make that change now, you might never catch up with all the amazing things you’ve missed. And that’s OK. You’re young. You have time to make changes.

All you have to do is start making the necessary changes now. How will you know if it’s really time to take action? By seeing how you spend your money, and how you treat your relationships. Start by looking at where you spend your money. Are you comfortable with the amount you are spending, and are you willing to spend more? It is time for you to get in control of your family budget and reach financial freedom.

What financial freedom is all about

Genuine financial freedom is about a sense of security and feeling as though you have enough money to meet your needs. It’s about being in control of your day-to-day finances and having the financial freedom to make choices that allow you to enjoy life.

For me, financial freedom comes from saving for the future and having a passive income financial plan. For example, I have saved for retirement. I also have a passive income financial plan in place. While I am still working on a corporate job, I will continue to invest in both fronts, especially in the near future.

The passive income generation gives me the peace of mind of knowing that I don’t depend on my corporate job to survive. The retirement plan ensures that I will live a comfortable life when I grow old.

Ideas for maintaining financial wellbeing

Financial freedom is about being in control of your finances and having the freedom to make choices that allow you to enjoy life. There are a million different ways to approach this concept. Here are some ideas on how to start: 

Write down your budget

Knowing your income, expenditure and disposable income once your day-to-day expenses are covered, will give you confidence in your decisions. If your partner or spouse usually looks after the finances, be sure to talk the budget through with them, so that you both understand your financial situation. To understand more about budgeting, read my post about the family budget: 6 easy steps to reach financial freedom.

Avoid income comparisons

Research indicates that comparing ourselves to our friends or colleagues reduces life satisfaction. We all have different priorities and find pleasure and enjoyment in different things. You may love to travel and invest in experiences, rather than having a big car or house.

Over a lifetime, income is not linear. You might earn more than a friend now, and the opposite can happen in 5 years’ time.

Worry about your finances, respect the choice of your peers and avoid making comparisons. If money is a topic that interests you and your colleagues, talk about it, but don’t waste your time on fruitless competitions or scorekeeping.

Look for the positives

Recent research on neuroscience has shown that practicing gratitude contributes to rewire your brain structure. Feeling grateful stimulates the production of natural ‘antidepressants’ like serotonin and dopamine, giving you a feeling of contentment and wellbeing.

Looking at the small day to day gains and successes of life with gratitude and you certainly feel the result.

Read more:

Want to read other great articles on investment and personal finances? Do you want to know how to get in control of your spending, and get rid of debt? Check these posts and continue building up your financial literacy:

About the author:

Personal Finance Made Easy

Hi, I am Leblon Blue. Mid-thirties senior manager on a large corporation. Happily married for seven years and waiting for my first kid. I have dedicated my past 15 years to build an engineering background and a stable career. After working in Europe, Scandinavia, and Latina America, I am now based in the Persian Gulf, where I manage the performance of a large corporation that operates in the region.

Find more about Leblon Blue.

Leave a Reply

Your email address will not be published. Required fields are marked *