What is Financial Freedom?

Last Update: January 17, 2016

So everyone talks about Financial Freedom and it is so easy to get confused by this and of course this can mean completely different things to different people!

So What is Financial Freedom?

I believe financial freedom is made up of a number of different aspects and I will explain all my thoughts here... just keep in mind while you read this that I am not an accountant, or a financial advisor.

I am just like you, seeking financial freedom in my own way.

So here we go... here are my personal beliefs on this topic.

Financial Freedom means being debt free

Ok so I am not saying don't get a home loan.. I am talking about credit cards, store cards, personal loans and all those ways that are so easy to get sucked into and then not get out of.

Have you been in debt before? How did that feel?

Well I can answer that question. It is like a having a constant sick feeling, a permanent feeling of slight nausea. A tension headache, trouble falling asleep and then not wanting to get up in the morning.

It feels horrible. When you get yourself stuck in a hole and you can't get out, all you can do is keep taking out more credit to try and get through the here and now.

Does that sounds familiar?

So yes financial freedom to me means being debt free. Yeah have home loan or perhaps vehicle finance IF you can afford it, but don't have other debt!

Financial Freedom means having some money

See now I think this is where things get confusing for people. Does having some money = being stinking rich? No it doesn't. I'm just talking about having enough money to pay your way, yes without resorting to taking out credit.

I once explained how I feel about this to a friend and she loved the analogy. I jsut want to be able to buy a Coke on a hot day without having to do any calculations in my head or counting my coins. I want to be able to think "Geez its hot today, I'm just going to buy a Coke quickly".

Simple, not buying my own island on a whim, I just want to be able to easily afford the odd Coke without worrying, doing calculations or feeling any guilt.

Is that so hard to achieve?

Financial Freedom means having the time to spend my money!

Now this for me is the big one. I enjoy working, in fact I love it so much I think I may have a little problem.

BUT I want to have some money and also have the time and freedom to spend it.

Why is this so important to me? Well what is the point in having money and not being able to enjoy it? Yes I want to have some money saved so when I die it goes to my kids but really I also want to blow a little of it myself.

This means that time is a valuable asset. I don't want to stop working completely but I would like to be able to work less and spend more time enjoying myself!

What will I do with Financial Freedom?

  • spend more time playing with my kids
  • spend more quality time with my husband
  • keep my kids home during school holidays instead of send them to aftercare
  • fetch my kids straight after playschool (school when they are older) instead of them staying in aftercare till 5pm every day
  • take more holidays with my family
  • spend more time outdoors with my family, fresh air is great!
  • spend more time spreading the word about recovery from addiction. I want to visit as many schools as possible and talk to the children. I want to share my story with them and hope it saves one of them going down the dark path I did.
  • be more relaxed and silly, laugh more!
  • spend more time with my parents (they live 400kms away)
  • visit my sister and her son in the UK regularly (I have never been to her, she has visited us yearly for the last 15 years)
  • do more fun things with my kids like make Gingerbread Houses and then eat them!

Have you noticed anything about my Financial Freedom goals?

They have very little to do with money do they? They have to do with having simple fun, being with the people I love, doing the things I am passionate about and finding joy in things.

This is all I really want in life. There are no castles in my dreams, no fancy cars, no designer dresses or diamond jeweler.

Give me my kids and my flip flops every day, let us outside to play in the sun and I will be a happy as can be.

Let's be Practical Too!

Yes I need to buy a house, my car is near its end too.

I want to buy a run down place that my hubby and I can do up ourselves and make our own over time. We want a home, somewhere that we can build memories.

Give me a car that goes from A to B, that is safe and reliable for my kids. I don't need anything flashy.

So what are your dreams, what is it that you really want from life? How will you reach your dreams in 2016?

With me, I will be working my ass off and trust in the fact that it will pay off, that I will very soon be financially free :)



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debrakirk Premium
Hi Lynne
Ok i have confesion - i am quite an emotional person - your post brought tears to my eyes!
Although I am older and have grown children and grandchildren I can totally see where you are coming from.
I wish I had your insight at your age - keep going Lynne - You will succeed!
Deb
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LynneHuy Premium
Thanks Deb :)

I have succeeded! I have my kids home from lunch time, we are busy saving for the property we want to buy and should be able to have it by the end of the year... cash.

So many things have happened since this post.
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lynnrm2000 Premium
Love your context....I am with you on all your saying...I feel money is not everything....I need money for bills. Fancy houses and yachts are not a priority for me but living life with my family and having that time to spend with them is very much more important. Great info:)
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LynneHuy Premium
I am glad you enjoyed this post :)
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bogyolin Premium
I fully agree with you. As the old saying goes: time is money, but in this context it is rather the financial freedom you were writing about.
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LynneHuy Premium
Yes but money is so tied into it, isn't it?
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bogyolin Premium
unfortunately, but once you discover how to turn the situation around and let the money work for you, you will have the financial freedom, and also more spare time. At least this is my vision, this is why we are all here I suppose, and I am really confident that at WA we can learn how to achieve it ;)
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LynneHuy Premium
Oh yes I am too :) I look forward to sharing the journey with you!
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maxser67 Premium
Can I copy your post and write it as my Financial freedom goal?
I mean, it sounds exact how I'm thinking :)
Wish you all the luck and I hope you will get your financial freedom!
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LynneHuy Premium
LOL I'm glad you enjoyed it!
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dickw Premium
I think you have two adorable daughters.
For me freedom is never allowing money to be an issue. I have been up and down and now somewhere in the middle.
I think that you are on the right track. The only really important thing is family. There is nothing wrong with toys, but what will make anyone happiest is the art of giving.
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LynneHuy Premium
ROFL thanks Dick however I have one beautiful daughter and one exceptionally pretty son heehee.
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johnhevans Premium
Financial Freedom to me represents, not having to worry about money at all. Able to help people in need. Have the time to do what you want but stay mentally active as well as hopefully being healthy. If your not healthy to enjoy life with family and friends, financial freedom mean nothing then.
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Dmorrow Premium
I'd like to be able to retire and not have to work a part time job afterwards!
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smmudie Premium
I like you goals, similar to mine. I want to buy that coke without any calculations in my head, I want to spend more time with my family, doing the thing I love, and I will.

Good luck to you and keep working, it will pay off and your dreams will come true.
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Pisquali Premium
I don't want much, just to be able to have a nice comfortable place, to be able to travel and bit and take my kids place for new experiences.
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KatieMac Premium
Good post and we are all seeking financial freedom to have time to spending doing the things that are important to us,, mine is focused on my family to, the money to see my grand children when I chose to, helping my daughter out she is a single mum now and it is hard work with two young children and being able to take my much loved trips with family and friends, obviously making sure we have enough always to pay bills without worrrying
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kennick2015 Premium
Financial freedom is exactly what is says.

It's the freedom to live a life FREE from the stresses that NOT having enough finances brings.

The actual figure solely depends on the individuals' personal requirements.

One could be financially free and still choose to work 50 or 60 hours a week.

Because now it's a choice. Not a necessity.
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Calamutz Premium
Love your post Lynne,

I really feel nearly the same as you do except I don't have children but dogs.

Wish you all the best for 2016

Barbara
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LynneHuy Premium
Hi Barbara

Thanks for sharing and have a great 2016!
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Tirolith Premium
It is not the money that we should want but what type of life we should want from it....... Tom.
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LynneHuy Premium
Great reply Tom! Thank you :)
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JudeP Premium
Great post, thank you :)
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Maxiam59 Premium
Being Financially free to me means waking up to beautiful soul mate and know that she does not have to work that day or any other day and being able to visit anyone we want to with out worrying if you can afford it .Then being able to help less fortunate ones like the handicapped or the elders or veterans have things they need .I do not care about fancy clothes or big fancy houses I just want to be able to do what we want with out stress over money all the best Max
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LynneHuy Premium
Beautifully said Max!
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Ericabried Premium
Lovely post Lynne, and I can relate totally to what you have shared about financial freedom and what it means to you.
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LynneHuy Premium
Hi Erica,

I'm glad you can relate!
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PJonline Premium
Hi Lynne I certainly relate to your awesome goals and vision you have share here! ThAnk you for sharing!
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LynneHuy Premium
Hi PJ

A pleasure as always!
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Jeg12 Premium
Hey Lynne

Thank you for this blog about financial freedom. We don't always know what it means. You have explained it so good.

All the best.

Michelle
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LynneHuy Premium
Hi Michelle

It is a pleasure :)
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CTisby Premium
Your words sound like they came from my mouth. Your reasons are my reasons. Just want to be able to go in a store, and buy anything, from a coke to a new sweater, without having to balance money before I do it. It's coming, financial freedom that is! Keep pushing, be blessed.
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LynneHuy Premium
So glad you could relate! Thanks for sharing :)
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KalKal Premium
Your children are so beautiful.
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LynneHuy Premium
Thank you KalKal :)
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andrel Premium
Hi Lynne!
Honestly, I rarely spend much time reading long blogs as this here in WA community. Yes and again YES, you are absolutely right and all Financial Freedom meaning you highlighted are so familiar. I was almost close to FF some 3-4 years ago doing IM. Unfortunately, that approach led to sad result. Except knowledge I have learned.
Have a Great day and next days too!
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LynneHuy Premium
Hi Andrel
Remember that everything we go through makes us into the person we are today. Yes you may have lost, but you gained experience and knowledge. I do believe things are exactly how they are supposed to be and that things have a reason for happening.
BUT it must've been such a let down, I don't handle disappointments well :( So I really feel for you, but you can do it!
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NicholeTH Premium
This is a wonderful post. Financial Freedom is subjective to everyone. The most important part about freedom...for anything...is being able to choose. Unfortunately, with all the progress we have, it comes at a price, and too high of a price, takes away the freedom. I would like to worry what it would be like to have too much money to worry about - but I would just like to be at a point, where I do not worry at all.
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LynneHuy Premium
Yeah Nichole.... I like that, like having a huge problem deciding where to invest your piles of money heehee. That would be a nice problem now.
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AlejandraB Premium
Great blog and great comments about how life should be, life is not just about diamonds and gold, a good life is about good moments, financial freedom can give us the freedom to enjoy simple things in life.
Alejandra.
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LynneHuy Premium
Hi Alejandra
Thanks for reading. My views on financial freedom have changed since I had kids!
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paulgoodwin Premium
Love your post and your pics freedom rules !!!!
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LynneHuy Premium
Thanks Paul :)
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paulgoodwin Premium
Was really great
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DJ-Yogi Premium
If you like your flip-flops I recommend this wonderful book: "How to live in flip-flops" from Sandy Gingras. An illustrated book which you can read at bedtime with your kids. I love it. It's a flip-flop philosophy. A lifestyle;-)
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LynneHuy Premium
Oh nice, a book on living in flip-flips, that is something I think I would love!
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DJ-Yogi Premium
You're still practicing the "F... That" meditation?
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PIOFJR Premium
Though Financial freedom for me is when 'money is no object'. On the other hand, just to be free from 8-8 nightshift job is considered to be one of my freedom to work on. Thanks for sharing Lynne.

Pio
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LynneHuy Premium
It is about finding the balance I think Pio! :)
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edtay78 Premium
Thanks for sharing Lynne!
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LynneHuy Premium
It is a pleasure :)
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sofieanderin Premium
Good post Lynne. To me financial freedom simply means having a choice.
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LynneHuy Premium
Yes very much so, thanks for adding your thoughts :)
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mjdimarco Premium
Financial Freedom for me means having enough money and resources to live a comfortable life. In addition to the basics of food, shelter and clothing, a comfortable life includes good health, a loving family, some good friends, the ability to do things that are rewarding, such as travel and learning. Financial freedom is only part of the picture. Intangibles such as peace, harmony, service, and love are part of true freedom, and many aspects of these are achievable even with little money.
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LynneHuy Premium
YES very well said there, honestly there are so many factors that come into it and each person's will be different :)

Thanks for shaeing!
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clue Premium
Exactly the way I feel and what I is.
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