This is a fantastic question to ask yourself. It’s easy to say you want to be financially free and that financial freedom will completely change your life. What does it mean to you, to be financially free? If you can answer this, you have some real motivation being you to achieve your goal. How detailed is your answer? The more detail, the more motivation, the more commitment and the greater chance of success in becoming financially free.
So let me ask myself this question. How will financial freedom change my life?
Reduce stress about my family’s future
- To know our retirement will be comfortable
- Parental care (with respect to my own parents and in-laws and in respect of me and my husbands needs)
- Should anything happen to me or my husband, to know our children will not have to worry about money if they are not yet able to provide for themselves
Look after my family’s needs
- Affording to spend more time with our children, while they are young
- Enable our children to have unlimited access to education, university, post-graduate etc
- To give our children options to explore what they like or don’t like and support them in developing skills – such as martial arts training, swimming lessons, tennis lessons, gymnastics, music classes
- To pay for safety nets – life insurance, medical care, prescriptions
Making the most of our life now
- Enable us to go on holidays and short breaks when we can
- Enable us to eat out when we want to as I don’t enjoy cooking and I enjoy the leisure time with family and friends while enjoying a nice meal in a restaurant
- To help family and friends if they are struggling with money
- So I can pay a cleaner to do some of our housework as I don’t enjoy cleaning and would rather be doing other things
- To live in our dream home that we can’t currently afford
Emotional Reasons
- Reduce stress and anxiety caused by worrying about all of the above!
- To feel I have achieved in looking after my family
I realise some of these are big things, life changers, game changers, and others are really just quite simple. How much of these things do you have now? How many could you do with a few tweaks to your life? Try it yourself.
