Achieving financial freedom

by | Sep 17, 2018 | Life & Money Q&As

Home » Life & Money Q&As » Achieving financial freedom

This important question gets to the heart of the matter of money.
Here is Living Money’s view…


How do you define freedom? The dictionary defines it as the power to act, speak or think as one wants. So, by financial freedom do you mean having sufficient money to act, speak or think as one wants?

That’s actually a tall order and I would suggest that adding the words ‘within boundaries’ makes financial freedom more achievable.

Ergo, financial freedom has to be addressed in both monetary and emotional / personal terms.

To achieve financial freedom you must know what you want first. This will provide the boundaries within which you will have the freedom to act, speak or think as you want. In practical terms work out how you want to lead your life and what that lifestyle is going to cost you. These become your spending plans for your life of freedom. They are also the boundaries, in financial terms, for your lifestyle of freedom. Then you can start to work out how to achieve the money you need for this and many respondents have provided suggestions in this post.

There is another aspect to your question, which implies an underlying assumption that you must have more money in order to do what you want. The other side of the coin is to change your approach to life from a mindset of accumulating to a mindset of contributing. If you focus on using your skills and resources to make a difference to people’s lives then your life will be more meaningful than a life lived to make a fortune. And within that meaningful life you will find freedom.

Photo by Collins Lesulie on Unsplash

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