financial freedom

3 Reasons to Achieve Financial Freedom

financial freedom

Enjoy the true freedom in life.

There will be people from all walks of life who read this article. Some of you are still in pursuit of high school diploma and have little education or work experience, some may have attended financial education classes, graduated college, and work in professional environment. Some are middle classes. Some are unemployed. Some are below the poverty line.

It doesn’t matter. This article is for YOU. Whatever situation you are in, learning healthy money management and achieving financial freedom should be one your life goals.

I once had a conversation with my friend, who is content with being in debt past his ears. He said he wasn’t concerned about paying down his debts because what’s the purpose of paying off debts if you still have to work anyway?

He felt defeated by the mountain of debts and accepted that he had to work his whole life to just stay current with his payments and to stay afloat every single month.

That brought me to a realization. How many people feel the exact same way? In my opinion, it doesn’t have to be this way. That’s why I have made financial freedom one of my life goals, and created this website to help people who share the same goal as I do.

To me, financial freedom means not being burdened by the stresses of money – owing someone, struggling to cope with late bills, disconnect notices, or ending the month with not enough money to provide for the family.

Financial freedom is the freedom to be who you want to be, and make life decisions without worrying about financial constraints. It means I’m in control of my finances, instead of letting my (lack of) money control me.

There are a few reasons that are motivational to me and pushes me to learn more about managing my finances and achieving financial freedom, personally.

1. Freedom of Lifestyle Choice

 

This is one of the biggest motivation for me. Being financially free means I’m able to make lifestyle choices that are otherwise not accessible to me. I don’t mean to retire and do nothing after achieving financial freedom, because I’m the kind of person who likes to work on new projects from time to time.

Many people do seem to dream about a day where they can retire from work and travel around the world, staying in the fanciest resorts, and seeing the most beautiful sights the world has to offer.

While some people are content with having no bills to pay and having just enough money to get by while they pursue their passions. Whatever the dream is, it is a choice of lifestyle. And all these dreams can only be made possible through financial freedom.

One of my dreams is to travel around the world and stay at a place for up to a few months just to immerse in the cultures and learn new things. This is not possible if I stay an employee and work for others, while having a ton of bills to pay up every month. To me, and I believe for many others, being financially free is a ticket to choose the lifestyle I want without worrying if I can afford it.

2. Financial Security for Family

 

Whether or not you are the sole breadwinner for your family, achieving financial freedom means you can provide a better life for your family members, and in many circumstances improve relationship within a family.

I have seen families ridden with financial problems and disputes over having not enough money, and it is a painful sight to see families get torn apart due to financial issues. Granted, money can’t buy happiness, but with all else being equal having money can eliminate a lot of problems and make life a lot easier.

More importantly, being financially free provides your family with security and freedom of choice. If you are a parent, or plans to be one, being financially free isn’t just about you anymore. You shoulder the fate of your family and your children, and achieving financial freedom becomes an even more desirable goal to provide a better life for your family.

3. Leaving a Legacy

 

This may not appear in your mind when it comes to achieving financial freedom, but being financially free means you can leave a legacy instead of leaving debts to your loved ones after your passing.

When we talk about financial freedom, we talk about building financial assets that generate income every single month without too much of an effort. In other words, these are passive income. It can be in the form of investments, or a business that generates monthly income, or better yet, a mix of both.

And when you inevitably pass on someday, this asset can be passed down to your children or grandchildren to give them a head start in life. We understand how important it is to have money in the modern society, we don’t want our children to struggle financially, do we?

Of course, you should educate your children and grandchildren about the proper way of managing personal finances to make sure they inherit your wealth and use it in a way that benefits them.

Start Your Journey Early

 

I hope by now you have found good reasons to achieve financial freedom for yourself. Your goals may not be the same as mine, but I’m sure you can see the tremendous benefits of being financially free.

To get started in the right direction, one thing you can is to build your first long-term income producing website. Building a website is a worthwhile journey as you are literally building a business around your passion. The only difference is that you don’t need any start-up capital and a product to get started this time round. Learn how it works and how you can get started for free right now.

If you want to learn more about managing your personal finances, take a look at our 6 steps financial freedom guide. Whatever it is that you do, just make sure you identify your goals and take massive actions towards it.

Leave a comment below if you want to share your life goals. What does financial freedom mean to you? Why are you working towards financial freedom?

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2 Comments

  1. DJ

    I myself come from poor family, I understand how important it is to have financial freedom. I’m working towards it to mainly provide security for my 3-year-old. I don’t want him to go through the same thing I did

    • Edward

      Hi DJ, glad you have set this goal for the sake of your son. Just remember why you started the journey and it can keep you motivated throughout. I wish you all the best in your endeavor.

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