How Financial Freedom Will Make You Happier

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Financial Freedom Movement

The financial freedom movement is a lifestyle choice in which people from all socioeconomic backgrounds decide to take control of their money and allow it to work for them so they can lead richer, more fulfilling, and more peaceful lives with financial security in place.

It should come as no surprise then that the financial freedom movement is gaining a lot of traction these days. People from every walk of life are sick and tired of being controlled by their money. I mean, who would want to work long hours at a job you hate for your entire life just to get by? I certainly don’t, and neither does anyone else for that matter.

So the financial freedom movement was born, but what exactly is it?

You know that old saying “money can’t buy happiness”? Well, it’s incredibly true. There are plenty of rich people in the world who are completely miserable. Just think of all the celebrities who finally had the money and fame they always dreamed of just to die young from alcoholism, drugs, or suicide.

They seem to have everything in life to us mere mortals, but the one thing that was missing from their lives was happiness. And happiness means everything.

Of course, there are also plenty of people living in extreme poverty who are miserable too. I mean, honestly, how can live your best life when you’re constantly worried about food, clean water, and shelter? Basic necessities are incredibly hard to come by when you don’t have the education, skills, or community support needed to make a name for yourself in the professional world.

Can someone from extreme poverty lift himself out of the poverty cycle and find success? Of course. Will it be easy? Heck no!

Money can’t buy the happiness you’re looking for in life no matter what your financial situation is, but it can definitely bring you financial freedom. And financial freedom will make you a whole lot happier in the end. That’s a win-win in my book.

What is Financial Freedom

Financial freedom is having enough cash and investments on hand to be financially secure. With financial freedom, you’re able to make life decisions without being held back by a paycheck, debt, or other financial obligations that you owe.

Financial freedom also ensures that you can support your family in the lifestyle of your choosing without financial strain or worry.

Materialism shackles you to a job you hate, dependence on a regular paycheck, and an ever-growing desire to impress others. But life isn’t about buying everything you’ve ever wanted. As the great Paula Pant says, you can afford anything but not everything.

By living a comfortable lifestyle with a reasonable amount of consumer spending, especially on things like groceries, cars, and utilities, and an extraordinary amount of saving and investing, you can obtain financial freedom and build a safety net for you and your family.

And the best part of creating your own financial freedom plan is that you can do it on any income, with any level of education, and with any size family to support. It just takes time and preparation.

Are you ready to get started?

Why is Financial Freedom Important

Financial freedom is important because it gives you control over your own life so that you can make the lifestyle choices that matter most to you.

The whole basis for building a financial freedom plan, therefore, is to understand why financial security is important to you specifically. Here are 5 financial freedom affirmations to help you focus on your own financial goals, not others.

Here are the top 11 reasons why you should consider creating your own financial freedom plan today:

1. You can educate yourself and gain skills that make you in demand in the labor market.
2. You can become a self-sufficient adult who no longer relies on your parents or partners to get by.
3. You can live debt-free.
4. You can escape a bad relationship that is no longer serving you.
5. You can provide a safe home for your family.
6. You can feed your family healthy, nutrient-dense meals.
7. You can provide physical and mental health services for your family.
8. You can walk away from a job that is killing you with stress.
9. You can build a safety net so that you never have to worry about getting fired or laid off again.
10. You can take a sabbatical or retire early so that you can focus on what brings you joy.
11. You can leave a legacy behind to those you love.

Remember, it’s your choice whether you live a life of constant wants and needs or live a comfortable life with financial independence as your ultimate goal.

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Steps to Financial Freedom

Learning the steps to financial freedom ensures that you are prepared to use your money wisely, avoid taking on unnecessary debt, and work toward the goal of financial independence. As you work through the steps to financial freedom, you secure a safe future for yourself and your family.

Here are the 5 steps to financial freedom so that you can take control of your life and use money as a tool to get ahead:

1. Invest in Yourself

Go to college, learn a trade, or take some online classes. It really doesn’t matter how you do it. You just need to gain marketable skills for the career you’re interested in pursuing.

2. Know Where Your Money is Going

You should know exactly what you’re spending your money on and why. If you can’t answer why you’re buying certain things, you definitely don’t need them.

3. Automate Your Accounts

Avoid fees and penalties at all costs. You’re just throwing away money for no reason. By automating savings each month, you’ll be sure to pay your future self and not all your creditors (which you shouldn’t have a bunch of in the first place).

4. Avoid Lifestyle Creep

Whenever you get a raise or take a second job, hide the money from yourself immediately. Bump up your emergency fund, put more in your HSA or retirement accounts, or transfer more into your kid’s 529. Don’t spend it on frivolous things just because you can. You’ll never obtain financial freedom if you keep falling for that life-sucking force called lifestyle creep.

5. Save and Save Some More

The only way to reach financial freedom is to save far more than you spend. Don’t keep up with the Joneses. Be way smarter than them, and save as much money as you can.

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The sooner you realize that happiness comes from financial freedom and not fame and fortune the better. Just think of how many times in your life you bought something like a new outfit, a new car, or a bigger, better house. Remember how excited you were? Let’s face it, you were elated—for a second.

Soon enough you got used to whatever new thing you had bought, and the excitement was gone just like that. The next thing you know, your closet is fuller, you have a larger car payment, or you have more cleaning and maintenance to do than you ever had before. None of those shiny new items sound so exciting anymore, do they?

Do you know that Americans spend on average $44 Billion on storage facilities per year? We’re literally buying so much stuff that we no longer have room for it in our McMansions. Just let that sink in. And we’re not even using cash to purchase all of these material goods. The consumer debt in America surpassed $17.51 Trillion in 2024. What is happening to us?

Money can buy amazing things, but once you have the basic necessities in life, like clean water, food, and safe shelter, the only way money can bring you true happiness is by providing you with financial freedom. And you’ll never enjoy that if you buy so many things that you have to store them in a separate location from your home.

Financial Freedom Plan

Are you ready to create financial freedom in your life? There’s no time like the present to create a financial freedom plan that works for you.

Here are 8 things to keep in mind as you develop your own financial freedom plan:

• You didn’t grow up daydreaming about how amazing it would be to be unemployed, hungry, and homeless.

• You don’t want to be stuck living in your parent’s home for all of eternity.

• You never think about how great it would be to feel trapped in an abusive relationship because you can’t afford to leave.

• You haven’t hoped to provide a worse childhood for your own children than the one you had.

• You didn’t want to keep working at a job that made you physically ill from stress every time you headed to work.

• You don’t look forward to getting laid off or fired from your job and losing everything.

• You never want to be an elderly person working a menial job because you have no retirement savings to speak of.

• You haven’t hoped to be a financial burden on your family in old age.

So sit down, have a financial conversation with your partner, family members, or close friends, and start working on these 5 steps to financial freedom today.

It’s time to take control of your life by educating yourself on financial topics, bankrolling your emergency and FU funds, and insisting that your money serve you. You will never reach financial freedom by accident. You have to put in the time and effort it takes to get there.

Forget what advertisers say about where your money should go. Personal finances are meant to be personal, and it’s up to you to decide what your priorities are. Not the nameless, faceless people whose sole job it is to get you to buy, buy, buy.

Most of the material items you think you want are a huge waste of money and will only end up being a burden on your home, your to-do list, and your wallet.

The only place your money should go is toward buying you financial freedom and increasing your happiness.You deserve to be free of debt. You deserve to be free of worry. And you deserve to be free of fear.

Today is the perfect day to make that happen.

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Financial Freedom Affirmations

Saying financial freedom affirmations daily helps you stay positive and keep your short and long-term goals in mind. Use financial freedom affirmations as a guide to manifesting the security you desire.

Here are 10 additional financial freedom affirmations to say daily as you work toward building your financial freedom plan:

1. I work hard, so I deserve the money I earn.
2. Saving money is the best gift I can give to myself.
3. I am buying my freedom through financial security.
4. I am smart enough to invest my money wisely.
5. Nothing can stop me from reaching my financial goals.
6. Having a stockpile of cash is better than having a house full of stuff.
7. I have the power to make sure my family is taken care of financially.
8. Living a simple life is incredibly peaceful.
9. I collect life experiences, not material items.
10. My favorite moments in life are shared with those I love, not buying stuff.

Start saying these financial freedom affirmations today, and you’ll be surprised by how much work you get done on your financial freedom plan in a short amount of time. Remember, it’s never too late, and you’re never too broke, to find the success you’ve been looking for. I’m here to cheer you on!

FAQs

1. What is the definition of financial freedom?

Financial freedom simply means having your spending under control so that you can save and invest the rest, resulting in a cash stockpile that provides financial security for you and your family. When you reach financial freedom, it means that you can live your life the way you want without being stuck in debt.

2. How does financial freedom work?

Financial freedom means different things to different people. In essence, having financial freedom means that you have a big enough cash cushion that you can make important life decisions without being held back due to financial hardship.

2. Is a financial freedom vision board a good way to get organized?

A financial freedom vision board is a great way to help you determine your financial goals and manifest them. Whether created on paper or digitally, a financial freedom vision board is a visual representation of what you want your finances to look like in the future and a great reminder of the steps you need to get there.

Sources

• American Association of Retired Persons: What Your Stuff is Costing You
• American Psychology Association: The Secret to Happiness: Feeling Good or Feeling Right?
• CNBC: Consumer Debt Hits New Record of $14.3 Trillion
• United States Census Bureau: Number in Poverty and Poverty Rate: 1959 to 2019
• Paula Pant: Afford Anything
• NPR: If Your Spending is Eating Your Savings, You Might Be Experiencing ‘Lifestyle Creep’

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What do you think about working toward financial freedom? Share your thoughts in the comments section below.