I have just returned from a week off and it got me thinking about what financial freedom means to me.
For some people, it is simply ensuring they have enough incoming to cover outgoing, and for others it might be having enough passive income that they don’t actually ever need to work again.
In reality, most people are somewhere in the middle and are extremely varied, mostly controlled by the income they are receiving and life stage.
For myself, I want to ensure I have the freedom the enjoy time with my young family. We prioritise this time and sacrifice in other areas to afford that luxury. If you were to see my mobile phone you would know that having the latest phone, and not broken, isn’t a priority to me.
As I said, this is different for everyone though. You may not have kids and you want your freedom to afford you the ability to upgrade your phone every time a new one is released.
There really is no right or wrong, there is just making sure that lifestyle is sustainable.
When you see a financial planner they can help you with budgets and set savings goals.
Where do you want your financial freedom to take you?
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