4 Things That Can Make You Free (Financially and Otherwise)

It’s sad, but true. Too many people slog through their daily existence, yearning with every fiber in their being to be freed from the constraints by which they’re bound. The greater tragedy is that many of these ties that bind are of their own making. Many of the decisions they make, for better or worse, conspire to keep them forever lashed to the pole of an ultimately unfulfilling existence. Why does this happen?

If you had a coffee with many of the same people at the beginning of their journey through life, they’d expound a fountain of ideas and dreams. Years later however, the demands and realities of daily life have pushed their dreams to the side, and most would be happy with just a few spare minutes or pennies they could call their own.

How can this tragedy of unfulfilled promise be avoided? Are the majority destined to be locked away in a prison of their own creation, forever barred from attaining their dreams and aspirations? Sadly, yes, for many that will be their reality. Only a select few will ever break free and rise to master, or create, their destiny. Why is this, and how can you be one of those that breaks free from the chains of the existence that falls sadly short of attaining much of that which you’ve been denied?

Ironically, it’s the very pursuit of the dream itself that deny many people the opportunity to achieve it. There are 4 things that can ultimately lead to a life of freedom and financial security. Many extremely successful people use these as basic tenets of their lives. If you have financial freedom, weather through needing less, or making more, many other freedoms will follow.

Key to Freedom 1 –Preparation - Lay a Foundation – You can’t only wish for success and freedom, you’ve got to plan for it. The problem is that too many people jump headlong into what they believe life should be, without ever planning on how to make it what they want. You can’t rely on decisions made on the fly to deliver the life to which you aspire. You must develop a plan that fits your goals and personality. You’ll than have a road map to follow. Few people would ever build a home, or begin any other complex project without a plan, yet with their lives, perhaps the most complex project of all, few people ever set out with such a roadmap.

Key to Freedom 2 –Timing – It’s been said that timing is everything. While this overstates things a bit, there’s no denying that timing is of the utmost importance. When the milestones in life happen, the order in which they occur can do much to determine your ultimate success.
Key to Freedom 3 –Frugality – More than almost anything else, frugality can and does impact where you end up in life financially. This is especially vital when you’re young, as many people underestimate the importance of a few dollars here and there. The other thing that frugality buys is the freedom from financial obligation that becomes so oppressive for many people.
In our consumer-centric society there is pressure to spend from every direction. It can take discipline to maintain one’s financial composure in the face of such a storm. A bit of need vs. want analysis doesn’t hurt either. Some restraint early can lead to huge returns, and the ability to relax later. It also establishes a pattern of spending less than you make, which is one of the cornerstones of not only financial success, but success in general. Many family problems stem from financial troubles.
Avoid the compulsion to spend, but yield to some wise investing, a behavior that too few young people exhibit. I was talking to someone today that was talking about buying some nice 19” chrome wheels for his car. When the subjecting of investing the $1,200 instead of buying the wheels was floated, he opined that he really had no desire to invest, as he’d just make more money later in life. The fact is that he may not, and he probably will never be able to catch up if he does. He’s 25 so figure that the $1,200 he spends today would have about 40 years of growth potential. Invested at 8%, it would grow to about $26,000. If he managed to get a 10% return, it would be worth $54,300. That’s just one exhibition of frugality, and investing the returns. You can see how one of these a year could add up substantially.
Key to Freedom 4 –Initiative – If you want it, you’ve got to do it. That is, for many, the hardest part of the journey. Far to may dreams go unfulfilled, and too many great ideas remain unrealized, because the dreamer never got around to making it into more than just a dream. Don’t make that mistake. Weather due to fear, laziness, feelings of inadequacy, or a lack of confidence in their abilities, the majority of those with the key to success in their hand, just never put it in the lock and turn the thing. It’s sad, but true.
Whatever it takes to make yourself actually get out of the blocks, just make it happen. After you’ve started you must apply perseverance until success and freedom are yours. Don’t rest until they are, but, at the same time keep your priorities in order so you don’t miss what life has to offer along the way.
Have a great, debt free weekend.