What is Financial Freedom
#1
What is Financial Freedom? It really depends on whom you ask. You probably have a different definition than me. But here is my two cents (since you asked...)
- You are completely and totally DEBT-FREE (owing no man)
- You and your family are in unity
- You know where your money goes
- You have a plan for the future--your debt, your giving, your savings, your life!
- You can truly feel content with what you have
- You truly know that ALL is God's-100%-and you live like it! That is true peace!
- You give generously, completely, and immediately
- You have conquered the tithe "law". You are not bound by 10%. - -You give freely above that.
- You obey when God asks you to give sacrificially- of your time, your desires, your money
- You live selflessly
- You are free from excesses
- You can properly balance between temporal and eternal investments (saving & giving)
- You conquer some of the tough words--patience, self-control, obedience
- You serve others above yourself, and bear fruit for Jesus- you have an external focus

I took these off the following website which has some excellent financial advice!

http://www.financialfoundationbuilders.com/
Make it Happen! :-)
Reply
#2
I define financial freedom as not needing to worry about money. Money shouldn’t be a dominating force in making decisions in your personal or professional life.

A good way to view financial freedom is another type of freedom most people in the Western world enjoy: freedom from hunger. As a human being, I need to eat to survive. But the relative abundance of food in my life has meant hunger is never a driving force in my decisions. If food were scarce, getting enough to eat would probably occupy all of my thoughts.

Being financially free, is the same as being free from hunger. Money will always play a role in your life. But you are free when it no longer becomes the dominating influence on your goals.
Reply
#3
I like your thought on financial freedom, chirkowatson, "as not needing to worry about money. Money shouldn’t be a dominating force in making decisions in your personal or professional life." Too many of us worry about money far too often. Not worrying is certainly freedom.

And, yes, having enough food to eat is a driving force in our lives though those in the western world do not have to worry about that as much as in some other places in the world. Perhaps the cause of that in some places is the weather or climate? In other places it is over crowding. In our western world lack of food is due to excessive alchohol, lack of opportunity, schooling or illness. In many of those situations others (like you and I) can help.
Reply
#4
CHIRKOWASTON

THANK YOU for your comment

dgrimm60
Reply
#5
Economic freedom is about to strike a balance between the quality of its economic life between income, investment, lifestyle and hobbies. economic freedom can become a variety of forms in an extremely close and very rich. The key is balance - nothing more important than the balance of expenditure in relation to income.

Debt Management
Reply
#6
I like his ideas on financial freedom, chirkowatson, do not worry about money. The money should not be a dominant force in making decisions on their personal or professional life.Too many of us worry about money too often.It is certainly worrying freedom.
Reply
#7
In my opinion financial freedom as not needing to worry about money. Money shouldn’t be a dominating force in making decisions in your personal or professional life. In a perfect world, material wealth would vastly outstrip needs so that people pursued work entirely for the joy of creating and a professional mission.
Reply
#8
Yes, I sure would like to be financially free, wouldn't you? I'm working on money for retirement. Hopefully I will have some......
Make it Happen! :-)
Reply
#9
AERONROY---BARRY.MARKMAN---KAKORPOATE

thank you all for you post on this subject

dgrimm70
Reply
#10
So.....are you financially free now? If you are it must be a very, very good feeling.

And now is the time when we have to pay our city/village property taxes, isn't it? I know I have to and they've gone up this year over $300. Sure don't like that but, if we plan ahead I guess it shouldn't be a problem, should it?
Make it Happen! :-)
Reply
#11
Personally for me, being financially free, first of all, equals to being debt-free. Having control over expenses is a crucial part of it. It is also preferable to have at least several sources of income. This will help to sustain your financial independence. Several other ways to achieve financial freedom can be found in this post:
https://effectify.com/blog/personal-fina...rt-journey
Reply
#12
MATT.DAVYDOV

thank you for posting your comment----this was a good thought

dgrimm70
Reply
#13
And now.............do you consider yourself Financially Free or do you owe a lot of money.

I consider myself free because my house and property are paid for and I also have an RRSP. So..................I guess I would go in the hole sometime but, hopefully not! :-)
Make it Happen! :-)
Reply
#14
I like the idea of "growing up from financial childhood" suggested by Tal Gur. When there's a necessity to break old financial habits and cultivate more effective ones.
Financial freedom is something that can be actually practiced. Using various methods, tools, doing finance related schemes and plans all the time, when there's no control, but everything is in a proper order.
Reply
#15
I like your comment TerryMulhern.  Sounds like it comes from a good experience.  Thanks.
Make it Happen! :-)
Reply


Forum Jump: