Financial Freedom in this age
A few decades ago people were working to afford their 5Cs better known as Car, Cash, Credit Card, Condo and Country club membership. What does financial freedom really mean today?
Even though many people still chase the 5Cs of old, more and more people are going for the new set of 5Cs namely – Career, Comfort, Children, Considerate and Charitable.
Remember the quote of Confucius. He said: – “Life is really simple, but we insist on making it complicated”, let’s stop chasing the 5Cs and start chasing the 3Ws.
How often have you heard someone say that when they stop working their mouth will stop as well. This happens when people exchange time for money.
How often have you heard someone say that they want to pursue their passion while working? How many people have actually achieved that dream?
We should see the 3 W’s together with financial freedom rather that looking forward to retirement.
When do you have Financial Freedom?
You are financially free when you do not have debts and have a passive income that is able to satisfy your lifestyle. You are financially free if you can choose to stop working and pursue your dream of acting or whatever else you have a passion for.
Money is a big problem. Most people have more debt that income and this puts them in a financial predicament.
Have you and your spouse quarrelled over money?
Are you troubled over your credit card debts?
You will be shocked when you compare your lifetime savings to your lifetime earnings. Think about it – have you ever wondered how much money has passed through your hands, yet how little of it you have kept?
The best thing that we can do is to pay off our debts as soon as possible because we cannot achieve financial freedom any other way. We need to work hard so that we can live without worries. The path to financial freedom is a hard one, but if we keep our minds set on the goal, we can achieve anything.
An excellent financial decision you can make, is to have your home and all your valuable belongings insured against damage and loss!