What is financial freedom?

At what point do you achieve financial freedom?

For each person this answer will be different and for many people this answer will be constantly changing.

For some people, it might be a specific dollar amount. When they make $X a month, they will feel they have achieved financial freedom. For others, when they have accumulated a certain amount, they will feel they have achieved financial freedom. For others, when they are able to retire they will feel they have achieved financial freedom.

Sadly, most people will never get to the point of experiencing financial freedom because as their income increases, their wants will increase as well. As they are getting closer to paying off their mortgage, they will feel the need to buy a bigger house, a more powerful car etc.

While increasing your income might help you become further in your quest for financial freedom, the reality is that decreasing your expenses will help you get their even quicker.

Do you really need that Rolex watch? Do you really need those designer clothes? Do you really need the new BMW?

Figure out what you want/need to achieve financial freedom and then make a plan on how to accomplish it. Remember, happiness is MUCH more valuable than things.

Have a great day!

Lawrence
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