I remember when I was introduced to the idea of financial freedom – I was instantly drawn to it. It was just so desirable to me. But why? Why is financial freedom important? In my article What Does Financial Freedom Mean To You, I focused on the WHAT of financial freedom – what it means. But in this article, I focus on the WHY – why should you bother at all with financial freedom?
When most persons here the words ‘financial freedom’, they tend to think more about the ‘financial’ part. But when I hear those words, I think more about the ‘freedom’ part. Freedom basically means having choice/options. Not feeling constrained or controlled or restricted. So when it comes to financial freedom, it’s not feeling constrained or controlled by money.
The sad thing is that most persons in the world are constrained by money, myself included. Many of the decisions we make are influenced by it. Where we live, where we work, the kind of job we do, how long we spend at that job, the kind of life we ultimately live are all greatly influenced by money. If we are being honest, for most of us money is the dominating influence in our lives.
In a way, it is our master. A master that makes many us feel stressed, imprisoned and unfulfilled. We spend our days worried about bills, car payments, mortgage payments, and the uncertainties of the future. We begin feeling tired and overworked. But yet we spend an increasing amount of our time doing what we care very little about – just to make a “living”.
But life is so much more than money. American Philosopher, William Lane Craig, was asked by his wife early in his adult life, “what would you do if money was no option”. And the answer to that question helped to guide him on his life path in pursuit of his passions and purpose. I’ve had to ask myself that question many times and I now ask you the same question. What would you do, how would you live your life if money was no option? For William Lane Craig, the answer to that question was very close to the life he actually lived. Mr. Craig is the minority I think. For most of us, the answer to that question is very different to the life that we are actually living. Hence the reason financial freedom is important.
Why Financial Freedom?
So why is financial freedom important? Well, it allows you the opportunity to do what you really want to do and to live the kind of life you choose. You are able to spend time doing the things you love and pursuing your passions. It frees you from worrying only about yourself and gives you the opportunity to add value to others in whatever way you choose. Instead of having your life influenced by money, you are now able to influence the lives of others in a positive way. For all these reasons, financial freedom is important.
I’m not suggesting here that we all become monks or anything like that. To live in the world, money is necessary and very useful. But I think that it is important for us to be in a place where money no longer rules our life. Some persons find that freedom and peace and happiness with not very much money. Others might feel the need to save aggressively for a while, set up things to generate passive income, or build a business they love. Whatever your road, the destination should be the same for us all– financial freedom!
“Real wealth is not about money… real wealth is about freedom.”James Clear
“Money is a terrible master but an excellent servant.”PT Barnum
I wish you every success in life and in the pursuit of your passions and purpose.
A fellow traveler on the road toward financial freedom and a more meaningful life. More About Me and My Blog.