You’ll use this article in all steps of The 8 Steps to Financial Freedom.
Some of you may be thinking, well, what is financial freedom?
Unfortunately, there is often this misconception that having an abundance of money gives you said freedom. I say misconception because I can give you several real life examples where people who have an abundance of income or wealth, feel like they are sinking in quicksand.
However, I can also show you examples of people with a modest income and home that consider themselves financially free. Better yet, there are people out there that make almost nothing but do what they love and feel great.
Based on those examples, I can easily say that financial freedom is more than money.
You should think of financial freedom as what defines you. It’s what you want from life and it doesn’t necessary have to revolve around dollars and cents.
Based on that very broad definition of financial freedom, you should realize that it means different things to different people.
Someone may want to travel around the world and in order to do that, they sell all of their possessions. To them, they are financially free to do what they want.
Another person may want to work from home so that they may be able to see their children more frequently. As you can see, there are so many different ways to have financial freedom. How you define it is up to you.
For me, financial freedom is the ability to do what I love and report to no one (well, maybe my wife ;-)). Having that freedom would give me the greatest sense of success that I can imagine. Truthfully, I don’t even care if I had much money in the bank. If I could support my family and sock a few bucks away by doing what I love, I would be just fine with that. I’m not there yet, but I feel that I am taking steps in that direction. Because I have a vision, the path doesn’t seem all that treacherous.
Defining Your Path
My challenge to you is to define your path to financial freedom.
As you know, it’s not going to happen overnight. However, if you are able to define what financial freedom means to you, it may remove the stress of not knowing your path. If you are just trudging along not knowing what you are striving for, you are going to lose focus and fall back into the same rut you always have been in.
Get moving in the right direction!