What is Financial Freedom And How Do You Achieve It?

Cover photo by Jayson Hinrichsen on Unsplash

**This post does contain affiliate links which help to support my blog and my family.

What is financial freedom?

That doesn’t seem like a trick question but it can mean so many different things to so many people. Financial freedom is a goal for so many of us. For a lot of people it may include things like:

  • not living paycheck to paycheck
  • not having to work overtime to make ends meet
  • being debt free
  • having a significant amount of money in savings
  • having money set aside for college
  • having money set aside for retirement

For others, including myself it not only includes the above but also things like:

  • having money to plan for future events
  • having money to help others
  • not having to worry about bills
  • not being afraid to check your bank account
  • not having to worry about unexpected financial emergencies

Sound almost impossible doesn’t it? Well, it’s not. I promise. I haven’t made it there yet but I can see the light at the end of the tunnel. It does require a lot of work and some sacrifice on your end.

What does financial freedom mean to you?

What are your financial goals for the next month, year, or even five years? What are some things you would love to do in the future? Go sightseeing, visit another country, or maybe build a house? Whatever your goals write them down and then let’s get to work.

How will you achieve those goals?

Like I said before you will need to work hard and probably need to make some sacrifices along the way. With your goals in mind it will make it easier to endure those things because you know what you are working towards.

You will also need to be prepared to make decisions that others may not agree with from time to time. As long as you keep your family’s best interest in mind then you will be on your way to achieving your goals.

You can find ways to use your God given skills and talents to help others and earn an income. Many people are doing this through blogging. If you are interested in starting a blog I can recommend a couple of sites to help you out with getting started.

The first site is BlueHost and had I not originally started with this WordPress blog that I currently have I probably would have went with BlueHost. The interactions that I had with everyone there were pleasant and even though I couldn’t transfer my site over I was impressed with their customer service. I have read many raving reviews about this site as well.

Another site that I am impressed with is Wealthy Affiliate. They offer a complete comprehensive training program that walks you through the whole process step by step. From setting up a blog to learning about keywords and SEO, they explain it all. If you don’t quite understand it at first they have some amazing customer support to help you succeed. The company operates on a ‘Pay It Forward’ system and everyone is genuinely helpful.

If blogging isn’t your thing maybe you have another service you could provide. Are you crafty? If so then you could make your own products and sell them on Amazon and/or eBay. Anything from clothes, antiques, books (maybe you have something to write about), and everything in between is available on these sites. You’d be surprised about how easy it is to sell online.

Think BIG and be creative. Your success is only limited by your imagination. You may not think you have what it takes to get it done but I think you do. Once you put aside your reservations and take the step you will find your way.

What happens if I don’t have any skills to market?

That is a tough question but I believe that everyone has something that they are good at. When I was younger with just three kids at home and I needed a little extra income I found something I was good at. I could, and still can, bake cakes that everyone enjoyed. I was able to sell enough cakes to friends, neighbors, and church members to supplement my husband’s income and provide us with a little extra money for things we needed.

Then there was another time when we needed money but we couldn’t afford to pay a babysitter. I decided to start babysitting for friends. This provided me with more than enough money for what we needed and gave our friends a little peace of mind knowing there kids weren’t being looked after by a stranger in daycare.

What do your friends and family ask you for advice on? If your friends are constantly asking you for computer or tech advice then maybe you can offer that to others for a fee.

Are there things that come easy to you that might not come easy to others? Maybe you were really good at math in school and still have a knack for numbers? You could offer to tutor or maybe find some way to market that skill online.

There are so many possibilities you just really need to look inside yourself to find what you like to do and what you are good at doing. One of my daughters loves makeup. She was constantly watching YouTube makeup tutorials. When she mastered a few techniques she came up with her own looks and started her own YouTube channel.

She helped me to get started on YouTube but I am not great at it and it was a lot of work for more. I had given it up until recently when I started making some promotional videos for our local clubs. One of the first videos, which wasn’t initially posted on YouTube, had over 6K views in a week! I was amazed. I have since uploaded it to YouTube for others to be able to use.

This does have me thinking that maybe this is a service I can help others with. I’ve just been a bit busy juggling the three blogs, five kids, and a million other things that go along with being a homeschooling, square dancing, blogging Momma!

There are a ton of FREE videos and tutorials out there to help you come up with ideas and teach you how to market them.

What happens if everyone thinks my idea is crazy?

No one else has to believe in it as long as it is something you are passionate about. I found a site called FlyLady many many years ago. This woman has built a business around teaching others routines to help them keep their houses clean. Did you read that? She doesn’t clean their house but rather teaches them to clean them.

Sounds kinds silly to some people that you would need someone to help you with that but some people do need that. They are loyal and dedicated to the wonderful advice she gives them. She even has products for sale on her site as well as offering courses and tutorials for people.

Don’t give up on your ideas. If there are others who need them and you are willing to provide them then you will be successful. Sometimes the biggest test of our courage is just to try.

What happens if I fail?

You need to expect that their will be some failures and disappoints along your path. Sometimes our most creative ideas fall and bust leaving us with major disappointment.The important thing to remember is that it happens to everyone and you just need to get back at it and maybe try a different approach. You need to believe in yourself!

Don’t buy into those schemes that seem to good to be true. You know the ones that promise to have you making double or triple your income but the end of the week or month. Yeah, that’s probably not gonna happen.

Or the companies that promise all you need to do is refer your family and friends to make big bucks. Sounds too easy because it isn’t true unless you have a whole clan of wealthy relatives ready to buy whatever you are selling. That won’t last for long though and then they will be wary of anything else you might try in the future.

Failure is sometimes the stepping stone for great success. We gain experience from our failures and we learn what works and what doesn’t work. Sometimes you do need step out and take risk on an idea. Just make sure you do your research and evaluate if this idea aligns with your goals and your family’s goals. Remember that just because a business idea or venture works well for one person it may not work well for you but there will be something out there that will.

What happens when I do start making money?

Don’t expect to get rich quick unless you just happen to have a genius idea that goes viral. My creative juices have been drying up lately and there will be spells like that. First thing is not to go crazy with your income.

Don’t make the mistake that so many of us make when we see an increase in income. Many times we will increase our spending instead of learning to put back for a rainy day. Learning to live below your income will help you to achieve that goal of financial freedom that you wrote down earlier.

Don’t stop being frugal or start being wasteful with your money. Yes, it is OK to treat yourself and your family every now and then but be wise with your decisions. Many a lottery winner has found themselves broke when they should have been set for life because of careless financial decisions.

Once the money starts coming in you need to start a savings account of at least $1,000 preferably $5,000 to cover any emergencies that may pop up. Then you can work on paying off your debts. I like to use the Dave Ramsey’ snowball method.

Start with the small ones and then work to the larger ones. When you get one small debt paid off take that payment and apply it to the next debt in line. Let’s pretend you are paying $20.00 a month on a $500 medical bill and $40.00 a month on a $2000 loan. Once you get that medical bill paid off then take that $20.00 and put it with the $40.00 to make $60.00 a month going towards the loan. You will see those debts getting paid off faster than you ever thought possible.

Once the smaller bills are paid off then you can work towards paying off those car payments. Then your mortgage or you can start saving to buy a house or a new car. Can you imagine the feeling of paying for a new car or house with cash? I think it would be AWESOME! You can also start taking that money and putting in savings for college or retirement.

What happens when I receive financial freedom?

Once you reach your goals don’t forget where you were when you started your journey. Try to start a ‘Giving Budget’, as mentioned in Crystal Paine’s Book ‘Money Making Mom‘. Are there others out there that you may be able to lend a helping hand too?

You can do this in so many ways. Maybe pay for someone’s groceries or buy a pizza for the family next door who just had a new baby. You could donate to local charities like the food pantry or buy gift cards for groceries to hand out at Thanksgiving or Christmas.

Don’t just give money but time. Maybe you could mentor someone and help them get started on there path to financial freedom. I wish I had someone who could’ve mentored me on this journey. It’s been a long bumpy path but I keep trudging on because I know where I want to be.

Not only would I love to be able to make sure my younger kids get to college but I would also really like to have a retirement fund for later. I also have a few things on my bucket list that I’d like to do, one day. For now I’ll keep blogging and trying out different avenues until I find the right one that I am happy with.

How about you? What are your goals and how to you plan to achieve them?

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