Monday, March 23, 2009

Financial Freedom Overview

By Mercie Hallow

Everyone is dreaming of financial freedom and early retirement. Financial freedom is the definition for being free and not worrying about where to get your money for daily survival. Financial freedom is having extra, not scrimping on what was left. Financial freedom is having your money work for you, not you working for the money. Financial freedom is growing your asset column or financial status without you doing anything.

Some people say that thinking too much about money is a bad thing because money is the root of all evil. I say the opposite. Be obsessed with money. Eat money, think money and live money. In this way, you will learn to love the concept of money and learn more about the subject. In this way, he/ she will have a full understanding on the subject and in the end look for ways to earn his money column. One should need to be financial literate if he seeks to be financially free someday.

Financial freedom is achieved when your expenses are lower than your income or your income is greater than your expenses. It teaches us to invest our excess money rather than save in banks. In this way, our money will grow through wise investing as oppose to it just being left there in the bank. If one seeks to be financially free, he/she should study more about money and how it works and increase his financial literacy.

Financial freedom teaches us on how to create wise spending habits. After receiving our income we should save or invest first. This is versus the habit of paying our bills first and then saving what was left. I know that it is important to pay our bills but this practice can lead us a disciplined life in terms of investing and saving. Giving tithes or 10% of your monthly income to churches is also a teaching under financial freedom.

There are still a lot of ways to learn about financial freedom. Check out your neighborhoods local listings for events and time schedules.

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