| "Financial Freedom" - The magical buzz words, lot | | | | stretching it long to get in debt". Its being self |
| of you might have heard yelled at you in radio's | | | | sufficient with the money you have and manage |
| or whenever you attend a finance or investment | | | | to spend wisely for all the expenses and grow it |
| seminars. It is very lightly used these days | | | | efficiently for the future. That's what I call |
| without any weight to the actual concept. Let us | | | | Financial Freedom. |
| put some thoughts together to dwell on to | | | | You might even have million dollars. If you don't |
| understand better. | | | | manage it wisely, it will vanish in a month. With |
| What does it exactly mean to be Financially Free? | | | | that million dollar comes great power and lot of |
| I know many of you have the answer just right | | | | responsibility. If you are not responsible enough to |
| under your collar. That is, Financial freedom means | | | | manage it, you will fail pretty soon and you still |
| "Earn more so I don't have to count each dollar I | | | | won't get to sleep well at night. |
| spend and not worry about paying my expense | | | | Let me take a simple example. For a scenario, we |
| every month" Or "Make more money to spend | | | | assume an average middle class American earns |
| like there is NO tomorrow". | | | | on average of $40,000 - $50,000 a year. If he |
| Is that the answer you got or something close to | | | | makes an habit to work with this income limitation |
| it? | | | | and make proper planning to take care of all the |
| If you think you got the right answer, please I | | | | expenses and also manage to grow some |
| am sorry to say that you are wrong. It's not just | | | | money(10%) for the future that's what I call |
| you got the answer wrong, it's just general | | | | financially free. If you don't have debt you can't |
| outlook is not syn with reality. When you search | | | | pay off and you have ability to manage and grow |
| Google. You get the first result from Wikipedia as | | | | your hard earned money, that's simply financial |
| "Financial freedom describes a well-planned lifestyle | | | | free in its own version. |
| where one no longer is required to work for | | | | Our schools or college system, never teaches us |
| income to cover their expenses...." | | | | lot about Money management unless you opt for |
| It's not just you you got it wrong. It's the people | | | | finance course. Yet it will be more theoretical, |
| who started it all out and echo everyday so it is | | | | money lessons can only be learned in a hard way |
| easy for them to mold to their own view point. | | | | by practical means. But you don't have to learn |
| Like many of you I also thought that's the | | | | only from your experiences and mistakes, you |
| answer few years ago. We all think if we have | | | | can also learn from others mistakes. That's a wise |
| more money that will solve all the problems. No, | | | | way. |
| its not going to solve it. It's going create more | | | | So don't make the mistakes others are making |
| problems and even bigger worries. | | | | by going beyond your boundary unless you have |
| Financial freedom is not about having or earning | | | | the guts to pull back otherwise you will be in deep |
| more and spend whenever for whatever you | | | | deep debt by inviting trouble. Watch out folks, |
| want. According to me, "It' is all about being | | | | don't just take the advise of you finance guru's or |
| content with what you have(earn) now and | | | | planners. Give it a thought and you will dwell on |
| manage to work within the boundary instead of | | | | something on your own. |