Financial freedom means being able to do what you want, when you want without the fear of adverse financial consequences. It’s different for each one of us.
It means not having to worry about whether you can meet your cash flow needs, not having to worry about whether you will run out of money in retirement, not having to worry about bills and credit cards and financial emergencies.
Reaching financial freedom is a wonderful milestone. As one who has been there, done that, I can tell you that it is a feeling like no other. A great weight removed from you.
You get to financial freedom by saving and by adjusting your lifestyle. I firmly believe that by living about two levels below your income, avoiding all types of debt, making saving your passion, and adopting frugal as a hobby, you can reach financial freedom.
Along the way to financial freedom, you will discover what’s important in the world: friends, family, community, and your spiritual wellbeing. You will find what true wealth is and how it’s not measured by money. You will learn to avoid consumerism, and learn to live authentically.
Along the way, don’t forget to be charitable. Charity is every bit as important as frugality, and it is an important part of creating a sustainable lifestyle. Many frugal people miss the importance of charity, and in doing so become misers. Miser sounds a lot like miserable, and there’s a relationship there.
Once you get to financial freedom, you will have the discipline and frugality to maintain yourself in that wonderful place. You will continue to save, building buffers of financial security, and creating wealth, not just monetary, but relationship, community, and spiritual. You will focus more on charity, and giving, and in so doing will find the true meaning of happiness.