The Secret Sauce For Financial Freedom

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Financial Freedom – Huh?

Financial Freedom is about having choices. Having the liberty to chose without restraint. Since our finances (money and possessions) are simply tools for us to use to meet our life’s goals, financial freedom is defined as having the attitude and resources to live abundantly in each stage of life, free of worry, to completely live out the full purpose of one’s life. 

Financial freedom goes far beyond having a few bucks. Sustainable financial freedom enables us to reach our potential as people. This freedom has five key components. The first four are things we DO. But the last one is key, it’s the secret sauce, that allows us to STAY in financial freedom:

  1. VISION for how you want to invest your time, talents and money
    • Answers: Where am I going and for what purpose?
  2. PLAN (budget) that supports your vision and quality of life you want to maintain
    • Answers: How will I get there?
  3. DEBT-FREE approach to everything we purchase
    • Eliminates the burden of obligation and provides a sense of security
  4. A bias toward SAVING
    • Provides a safety net for future needs and unplanned emergencies
  5. An ATTITUDE of contentment with where you are, and gratitude for what you have
    • Here’s the secret sauce…let’s unpack it some more

Secret Sauce To Financial Freedom

Contentment and gratitude are the secret sauce? What do you mean? Let’s break it down: Contentment, being satisfied with what one is or has; not wanting more or anything else, generates an ease of mind that is so essential to financial freedom. Contentment eliminates the need to compare  yourself to anyone or anything else.  Contentment also brings peace and peace is a large component of freedom.

The second component of the secret sauce to financial freedom is gratitude.  Gratitude, defined as a feeling of thankfulness or appreciation,  focuses our mind on what we have instead of focusing on what we do not have.

Combined, contentment and gratitude allow us to live financially free at all stages of our financial journey. And this is the key: Financial freedom is a journey and not a destination. If done right, we can experience financial freedom at all stages of our finances because we can choose contentment and gratitude. Whether you are just starting your career and making a minimal salary, or you’re a wily career veteran and make a large salary, you can live in financial freedom if you DO the four Do’s listed: Define the goal (Set a vision), budget, eliminate debt and save. Contentment and gratitude allow us stay in balance and not stray from feeling free while at the same time building wealth which allows even more choices.

The Takeaway

Commit yourself to being content with your current situation and grateful for what you have. Combined with being disciplined to set the direction in your life (vision), living within your means (budget), eliminating the burden of debt and saving for future needs and emergencies, we can live in the moment, free to pursue our dreams without worry or anxiety. You don’t have to be rich to be financially free, but over time, with discipline, contentment and gratitude, we can have that too.

 

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The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness

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