Becoming Financially Free

Last Update: September 20, 2018

Becoming Financially Free is something that everyone should strive to achieve, but what does the term actually mean, and how do you get there?

Financial Freedom is a term I first came across last year when myself and my partner visited a Property Seminar. The guy told us that owning property is one of the best ways to get to financial freedom. We know this is true, but don't like to have all our eggs in one basket.

My partner is the driving force behind our property investing, whilst I am looking at the Affiliate Marketing route to freedom. Combining the two is our perfect strategy.

So, how do you know when you're financially free? Well, it's the point in time when your income (preferably passive income) exceeds your everyday bills. That means you can live happily without worrying about how you'll pay your way in life, without lifting a finger. Affiliate Marketing is the perfect way to get there.

The figure itself will be different for everyone. Some will still have mortgages to cover (some have more than one) and others will be sending their kids to Uni. Some will have cars to run and pets to feed, others will have fewer outgoings and can live frugally.

To begin with, you need to seriously look at your bank account to determine what your baseline is. Do you really need that magazine subscription? Have you become bored with that gym membership? Do you really need the all-inclusive satellite TV package? Get to a point where you know what you need and what you don't.

Then do the calculation. Hopefully, the number won't be too large, but even if it is, it'll give you a goal, and goal setting is important to us.

One of the first questions you'll have been asked when you joined up here was 'How much money do you want to make?' Does your financial freedom figure match the answer you gave? If it's higher, then reset your goal. If it's lower, well done, you're reaching for the stars!

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KristianB92 Premium
Great post. Financial freedom is often a HUGE goal for a lot of people.
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Pschutz Premium
great article. it is definitively good to have a goal and number in mind.
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marycmiller Premium
Hey Dave great post, it is wise to know what your financial freedom is. For me it is to replace my wage so I can retire, since I don't have a pension.
Mary
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dkohara Premium
I have a pension, but my partner doesn’t, so we need to fill that gap. The property income is good, but she’s selling her own business as well, so that income needs replacing too. No pressure! :-)
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