2020年2月7日 星期五

The Very First Step to Financial Freedom

To be financially free, that's everyone's dream;

To be financially free, you don't have to be nobody's fool;

To be financially free, you need to be staying foolish;

To be financially free, you have to know what it really means.





The first step leading to financial freedom, to be honest, is to know the rules of the game. Treat financial planning as a life-long game, as a life-long hobby and get yourself interested in the game. Imagine having a personal hobby say playing basketball. Apart from practising your shootings, you definitely won't win a basketball game if you don't know the rules. Same for the financial game, you won't be the winner if you don't pay attention to the rules.

So what are the rules of the game?

What comes first is what does the term "financial freedom" means. Many people equate it with getting rich, and this is fundamentally wrong. The true meaning of financial freedom is that you can make life decisions without being stressed about making money from a usual 9-to-5 job. You take the wheel to control your own financial circumstances and could simply say "good bye" to your pushy, mean, stingy and unfriendly boss. In simple words, Financial freedom generally means having enough savings, investments, assets and cash flow so as to be able to afford the lifestyle we want.

Kindly revisit the last sentence above, there ain't a word "rich" in it. In a nutshell, the path to financial freedom isn't a get-rich-quick strategy. In fact, being financially free doesn't mean you have to become a billionaire. What matters is that it really depends on your own circumstances. So instead of dreaming how you would blow your cash after being financially free, you should be down to earth and plan what are the usual costs it takes to keep yourself "survive"......in a contented way. You can do that by start marking down all your daily necessities costs (I call it recurring costs) and also allow a buffer for special spending. All these added up should not exceed your monthly income in order to stay financially healthy. That's square one.

Alright, you now know how much you need in order to keep you survived, and it is the very first and crucial step: to stay financially healthy (income > costs) so as to start the journey of financial freedom.



4 則留言:

  1. to stay financially healthy , yes I agree, and to make good use of money to make our life better.

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