Early Financial Freedom – The term financial freedom or financial freedom may already be familiar to the ear. Many people want to live with financial freedom. In fact, some of them have started to apply it since they were in school.
The trend of living with financial freedom is becoming goals For them, learning and implementing financial freedom does need to start early. Well, as a financial application, of course Whiz wants to help you achieve financial freedom. Let's see what financial freedom is, how to achieve it, and the benefits!
Also Read: Tips to Prevent Impulsive Buying in 30 Days!
What is Financial Freedom?
Financial freedom was popularized by Robert T. Kiyosaki, an American financial expert. According to him, financial freedom is a condition when a person is himself and is completely free to do what he likes.
“Financial Freedom is much more than having money, it's the freedom to be who you really are and do what you really want in life.” [Kim Kyosaki]
Financial freedom can be interpreted as a condition when a person is free from all debts, has an income to meet his needs, is protected from all financial risks, and most importantly has a clear purpose for his life.
4 Ways to Get Financial Freedom Early on
#1 Making a Financial Plan
All forms of success are the result of careful planning. Nothing is truly instant in this world. Making a financial plan is the main thing you must do to achieve financial freedom.
You can start by understanding your current financial condition. See your income and expenses and start recording all the flow of your money in and out. Then make a plan and your financial goals carefully.
#2 Change Debt Habits
Debt is one of the barriers to financial freedom. Especially debt that is for consumption. Change your debt habits because debt for consumption has the potential to always increase. Start a frugal life by reducing consumptive expenses.
#3 Regular Saving
If you want to achieve financial freedom, you have to change mindset-your. During this time, we are taught to set aside money for savings. Change that way of thinking by prioritizing your money to save because saving can help you achieve financial freedom.
#4 Invest
Investment is a major trend among young people today. It is undeniable, income from investment can be a stepping stone to increase your income.
To achieve financial freedom early on, you must also learn to invest. Learn to look for safe investments and most importantly you also have to know the investment risks. As a beginner, start investing in low-risk financial products.
Benefits of Financial Freedom
#1 Can Meet Needs and Wants
If previously you had to prioritize needs over wants, when you have achieved financial freedom, you don't need to think about it anymore. You can get both at once.
#2 Don't Hurt Others
When financial freedom has been achieved, you can live independently and not bother others. You don't need to have trouble borrowing money to meet your needs.
#3 Reaching Delayed Dreams
As a young person, there are many dreams that you want to achieve, but cannot be realized. Financial freedom can lead you to your delayed dreams. That's when you can make all your dreams come true.
#4 Happy Life
The main thing to aim for from financial freedom is to live a happy life. With financial freedom you no longer need to live stressed thinking about financial problems.
You no longer need to wake up early and go to work, think about installments and debts, pay off your house or vehicle, and so on. Enjoy the results of your struggle and do what you love.
Not everyone can achieve financial freedom. Financial freedom can be achieved by people who are willing to study and work. Start achieving financial freedom early.
Also Read: Benefits of Saving for Children
If you are still having trouble managing your finances, you can use the Whiz Financial App. as the first choice. Whiz has many interesting features that can help you achieve financial freedom.
You must be logged in to post a comment.