While we may have a firm belief attested to the phrase “Money Can’t Buy Happiness,” it is essential to realize that it wouldn’t hurt to have financial stability scratched off the list of things that make you miserable. However, ultimately, exactly how much money is enough money to have no financial woes?
Financial stability can come in different forms to different people. Some may strike lucky and win a lottery. Others may work their way up the ladder.
Similarly, some people are born in a house of generational wealth, and some start entirely from the down low towards wealth. That’s where financial freedom comes into the frame.
Financial freedom can be an alien concept to some as it can mean different things to different people. If one may think about it, financial freedom is way more about the feeling than the finances themselves.
Understanding Financial Freedom
We live in a world where money is the focus of every action. From being a medium of exchange to representing power, those with money is certainly at the top of the food chain.
So it isn’t a shocker that we associate a positive feeling with having as much money as it suffices to keep all our needs, wants, and demands fulfilled. We all need a particular earning cycle to survive. However, anything beyond survival is the financial margin that makes our lives easy.
Thus, naturally, the more the margin is, the more chances of us getting towards financial stability and consequently financial freedom to enjoy whatever we want, even if it means walking away from a well-paying job because you no longer need the paycheck.
Benefits of Financial Freedom
Now that you have a better understanding of what generally financial freedom can mean, let’s look at some of the many benefits it has:
Increased Sense of Security
You receive a greater sense of financial security for your current life and future. You know your financial freedom doesn’t come at a compromise.
Space to Make Time
You can easily have space to make time for yourself because now your time is not money. You might as well be having drinks in Hawaii and still be making money.
Choice of Moving Freely
You enjoy your passions, get back to old hobbies, or create new ones. It would not cost you to indulge in things that make you happy.
Putting Your Values in Practice
You don’t have to abide by unethical rules and regulations because you are associated with a corporation paying your salary. You can become your boss and finally put your values into practice.
Lastly, financial freedom brings you a better and lasting sense of personal growth. You have integrity and self-respect. You practice your values and consequently become happier.
Considering the many benefits that financial freedom bestows, it is safe to say that it is the key to happiness. It may mean differently to different people. One thing is for sure, having financial freedom allows you to live without fear of the future, which significantly works in favor of every aspect of your life, both physically and psychologically. Good luck finding your financial freedom!