Financial Cookie Jar

Let's walk down the road of financial freedom together.

What is Real Financial Freedom?

by FinanceCookies - January 26th, 2009.
Filed under: Savings and Habits. Tagged as: , , , , , .

This seems like a very pertinent question. Financial freedom is one of those terms that gets thrown around without rhyme or reason sometimes. There are those who say it is to be able to buy anything we want when we want it. Then there are others who say it is when we are not in debt to anyone and we only have to be accountable to ourselves. I am sure there are many differing definitions of what financial freedom is, because it likely is different for everyone, but today I am going to give you what I think freedom entails.

Freedom, of any kind, never meant that you were supposed to do whatever you want, whenever you want, because your free. I am a believer that with great ability comes great responsibility. That is why real freedom has established rules. If we are hoping to feel more free than we need to have rules that we are better at following.

We need to establish when it is okay for us to go into debt and when its not. If there are no rules then we can think its okay anytime. Is debt alright for school? Is it justified for a car, home, boat, or Christmas?

The beauty of freedom is that you have the right to make whatever rule you feel like is livable, but also duly restrictive. Many of us have been raised in homes that have given us financial rules that we try to live by. If you are not one of these then you need to take it into your own hands to set up boundaries that will help you rein in spending.

When you are in control of your spending, following your rules then you will be following the methods and habits that will be getting you out of debt as well as putting money in savings. You are in control of your life. That is freedom.

One of my big worries as a nation is that we as a nation don’t seem to have given ourselves any rules and so…big surprise, we don’t seem to be financially free. Judge for yourself if our country is financially free, or we are financially free, or if this is even freedom at all.

My feeling put simply is this: freedom without bounds is not freedom, its chaos, or in governmental terms anarchy. Lets stop living in financial anarchy. One day we will realize no rules has made us slaves and then we will have no freedom at all.

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