Behind every successful adventure is a well-drawn map. And that’s especially true when it comes to financial freedom.
The benefits of arriving at the destination are clear. Lets face it. Most of us are well acquainted with the feeling of dread that accompanies a surprise bill in the mail. What’s the one thing that can turn unforeseen expenses from catastrophic to merely inconvenient? Financial security.
And that extra monetary cushion does more than just mute the panic button in time of upheaval. It also gives you the opportunity to create a life from choice and not necessity.
From unexpected doctor visits and car repairs to a fantasy vacation and dream career, achieving financial freedom can work wonders for living a better life.
It’s true that they say that money can’t buy happiness. But it can buy security, which in turn buys peace of mind. With with an empowered attitude and the right knowledge, you can achieve financial independence.
No matter where you are in your journey, there are several tenets of financial freedom that will help to pave the right course.
Memorize the 4 Keys To Financial Freedom Before You Map Your Journey
If you’re serious about becoming financially independent, you’ll need these to put these three tenets in your tool belt of success.
Time: Patience is a virtue. And unless you plan on winning the lottery, achieving financial freedom requires a ton of it. If you’re wasting time day dreaming of a get-rich-quick scheme, then a change of priorities may be in order. Be prepared for a long term commitment if you really want to overhaul your financial situation. It may not give you that instant gratification fix, but in the long run, it’s worth it!
Hard Work: The success of your financial independence depends greatly on the amount of work you’re willing to put into the process. First, it’s important to gather all the information you need to personalize your plan. Is a particular debt destroying your credit? Is living paycheck-to-paycheck keeping you from staying afloat? Assess your situation, and then create a map that will route you to where you want to go.
Most successful journeys involve getting creative about the money you’re bringing in. After you’ve created a budget, consider finding a side hustle that will allow you to earn some extra pocket money.
Compromise: Einstein said that “problems cannot be solved with the same mind that created them.” Likewise, financial freedom cannot be achieved by following routine habits. When financial freedom becomes a priority, you’ll find it easier to make compromises that support your greater goal. That morning Starbucks run will lose some of its allure, and cooking dinner at home will begin to feel more enjoyable.
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Personalize Your Goals
In order to construct the perfect map towards achieving financial freedom, you need to understand this first:
What financial independence means for one person is different than what is means for another. And the clearer you can get on your goals and intentions, the easier it will be to navigate the course.
Try This Exercise to Draw Your Financial Freedom Map
Try this exercise. Write down what you imagine you life will look like when you have achieved the financial freedom that you desire. How will you feel? What activities will you fill your days with? What changes will you witness to your lifestyle and your relationships?
This is your destination.
Here are several ways that people define financial freedom to help inspire your own list.
- Freedom to choose a career I love without any financial anxiety.
- Freedom to buy that new car (or other material object) that I’ve always wanted.
- Freedom to travel every year without worrying about its impact on my budget.
- Freedom to retire early
- Freedom to go shopping without waiting for sales
The key here is to find your North Star. By getting clear on your goals, you’ll understand how to follow the signposts along the way. And once you know where the road is pointing, the obstacles along the way go from massive mountains to inconvenient road bumps.
Define financial freedom for yourself by listening to your own personal truth. Then commit to hard work, patience, and building new habits. The journey will be worth it! For added inspiration, check out this article about the 27 year old who saved $200,000 by adhering to his own money-saving map.
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