What does financial freedom mean and why is it important?

The term financial freedom may be an unknown word to you. However, you must be familiar with the term. According to the Oxford dictionary, freedom means the power or right to act, speak, or think as one wants without hindrance or restraint. It is a state of being free. For example, when a bird gets out of the cage, we can say it has ‘freedom.’

Further, when we add the word money or finance to freedom, it is called financial freedom. Thus, financial freedom is nothing but freedom in terms of money. It is a state of freedom from the worries about money. As you have observed in life, whatever you plan to do in life, money comes in. But, when you achieve financial freedom, you need not have to think about money. You just plan the way you like to design it. Isn’t it a fantastic thing!

However, you must know the importance of financial freedom in your life to appreciate it and long for it.

The importance of financial freedom

Today, you have everything that had once dreamt. However, you are not happy. You feel that something is missing in your life. You think that you are cursed. If you have a beautiful family, a decent job or income, a home, a car, a good number of friends and relatives who care for you, then what went wrong. Why are you feeling so uncomfortable? There must be some reasons, and you have to find out that. You may pause for a minute and think about it seriously.

I assume you got the answer. For me, it’s ‘freedom.’ I mean to say, you have got everything at the cost of freedom. You might not believe me, but it’s the truth. For example, you have a beautiful family, but you cannot spare quality time with them. You have a beautiful home, but you cannot sit there to enjoy the raindrops and listen to your favorite music. You have faithful friends, but you never get time to visit them or have fun. Similarly, you have a supercar, but you cannot enjoy a long drive with your family.

What is holding you back? What does stop you from doing whatever you wish to do? That’s a million-dollar question you need to answer. I can claim that I know the answer. The answer is that you have sold your freedom to someone or somewhere, and it is hard to revert to your previous stage. It is the hard truth of life. Have you ever questioned yourself, why are you captivated by others? The answer is simple – for money. It may sound ridiculous to you, but it’s true. You have sold yourself, your freedom, and your happiness to get money.

Imagine you are financially free.

You are free from the worries of money.

Money is a five-letter word that is the most dominating term in your life. Most of your activities are monetary. Whatever you want to do, the name ‘money’ comes in between you and your work. However, once you are financially free, you need not worry about money. It will no longer be able to play a dominating role in your life. You can now plan or set goals without taking money into account. For example, you may like to enjoy your weekend on a beach, make a remarkable donation to a charity organization, or eager to get spiritual ecstasy, all of these things you can do without worrying about money. It is life in its real sense.

You can spend quality time with others.

Once you become financially free, you get enough time to spend with your loved ones that were not possible earlier. You are not in a hurry. You have nowhere to go urgently. No one is going to cut your salary for being late. It is the coolest feature of financial freedom. You can watch your children grow. They might share with you their opinions, views, thoughts that you were never aware of before. You can help your other half who was longing for it. Your old parents can now share the exciting parts of your childhood that you never heard before. Your close friends, who had become not so close in due course, are now enjoying dinner with you. Life becomes cool.

You can find your passion.

Passion is nothing but what you love to do. It comes in different forms like playing music, singing, dancing, swimming, writing, gardening, traveling, teaching, learning new skills, playing cricket, etc. One day, you were obsessed with your passion. You enjoyed every moment you spent with it. However, things changed drastically. You entered into the rat race – a race for money and power. You return home irritated and frustrated. Your passions are oxidized. Fortunately, you can enjoy your favorite music once again when you become financially free. You can plan for an extended vacation without worrying about time and money. You can close yourself in a room and write the novel that you had started but never finished. It is the most pleasant way of life.

You can work for a more significant cause.

Life must be valuable and meaningful. To make it useful, you have to work for a more significant cause of society. You should not do it for publicity instead of feeling blissful inside. You need to sacrifice your selfishness to explore the selflessness within you. It is the moral duty that you have to do while residing here. You can give your time and money to uplift the poor section of the society. You can join organizations that work for those physically or mentally challenged kids that need your attention.

Similarly, you can teach kids who are deprived of fundamental educational rights. It can be anything that is not blended with your selfishness. It is just like serving God.

There is an old saying that says, ‘Service to Mankind is service to God.’ Thus, you can add spirituality into your life. However, all this can happen only when you are financially free.

You are not worried about uncertainties

Uncertainties are a part of life. Anything can happen anytime. You can acquire a disease, fall ill, meet with an accident; your house may catch fire, a pandemic can lock you for months, and your location may be affected by cyclone, drought, or flood. Thus, it is impossible to escape from those uncertainties of life. However, your financial freedom can help you to tackle the situation more efficiently. I don’t claim that it will have no impact, but the effect will be much lesser in terms of severity. Your money will act as an airbag in your car. You see, a lot of people commit suicide when a small problem pops up. In most cases, they have financial questions. Thus, financial freedom gives you peace of mind, even during uncertainties.

You can say goodbye to some diseases.

Living a blissful life means saying goodbye to several life-threatening diseases. For example, anxiety and stress cause gastrointestinal disorders, chronic respiratory disorders, heart diseases, obesity, diabetes, Alzheimer’s disease, accelerated aging, or even premature death. Once you get financially free, you can give your time to improve your physical as well as mental health. Your morning routine can now be dedicated to Yoga, Meditation, and Cardio exercises. You can sit peacefully to chew your food with a piece of background music and absorb the vitamins and minerals to its fullest. You can grow stronger, healthier, and more energetic with each part of a balanced diet. That is the right side of financial freedom.

You can focus on your work with financial freedom 

Financial freedom never means spending your time idly. It gives you the freedom to focus on the work you like to do. For example, you don’t want to do a nine to five job. You may resign and start work that you wish to do. If it is a type of work that you can do in your home’s comfort, you can do so in your chosen time. On the other hand, you can also outsource your work to others to focus on more productive options available to you. 

Financial freedom – a new beginning

To conclude, I can say that financial freedom is not free. It comes with a hefty price that you have to pay. It needs a lot of sacrifices at your end. However, once achieved, you never look back. The sky is the limit. But, remember, it is not an end. It is a beginning. It is not to retire, but to work passionately and it is not to escape the uncertainties of life, but to face them boldly.

Further, it is not just living, but live joyfully. I think the ultimate goal of life is to live blissfully, and financial freedom can help you get it. Thus, it is not a final destination but a platform to achieve your goals in life.

I hope you enjoyed the lesson. Then, do share the article with your loved ones. However, I need your comments, suggestions, opinions, and experience to improve myself. I am a learner and would like to hear from you. Finally, you can subscribe to the newsletter to get a mail when a new post gets published. However, you can unsubscribe whenever you wish to do so.

Thanks and regards,

finguru@finlessons.com

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