Financial freedom: how to achieve it?
Posted: Mon Jan 06, 2025 6:09 am
Financial freedom is the ability to live the life you want, without having to worry about money. It's choosing your job, your hours, and where you want to live. It's traveling, learning new things, and spending time with the people you love.
You may think that financial freedom is not easy to achieve, but it is possible. With order and clear goals, you can achieve it and live the life you have always dreamed of, even relying on apps to earn money in Argentina, Mexico, Chile and Colombia . We tell you the 10 steps you can follow to achieve it.
What is financial freedom?
Financial freedom is basically reaching a point phone database where your passive income (the money you earn without having to actively work for it, such as investments, businesses, etc.) comfortably covers your regular expenses. In other words, it's when you no longer have to trade your time for money on a constant basis.
According to a study called ' From Security to Freedom: The Meaning of Financial Well-Being Changes with Age ', the definition of financial freedom is relative and depends on age and its impact on people's lives.
For some, it means having enough cash, savings and investments to live according to their desires. A financially free individual, for example, has control over their finances, allowing them to live on their own terms. For others, it simply means not having debt or having the money to pay it off in the medium and long term.
Boost your brand by creating your own online store.
Is financial freedom legal?
Yes, financial freedom is completely legal. It is a state in which a person has achieved the ability to cover their expenses and achieve their financial goals without relying exclusively on a traditional job.
This is usually accomplished by creating passive income streams, such as investments, own businesses, or rental income, that generate money even when you are not actively working.
read more: Practical guide to finances for entrepreneurs
Benefits of having financial freedom
Does money bring happiness? A study published by Forbes and conducted by Harvard University reveals that yes. After following three generations since 1938, the data revealed that the emotional well-being of individuals increases with income.
Economic freedom brings with it a series of benefits and positive effects in different areas of society. When financial independence is promoted and achieved, a significant improvement is observed in various aspects, such as poverty reduction, human development, democracy, a healthier society, cleaner environments, among others.
It goes beyond making ends meet, buying luxury goods or keeping money under the mattress. In reality, financial freedom empowers people, unleashes powerful forces of choice and opportunity, influences other freedoms and improves overall quality of life.
You may think that financial freedom is not easy to achieve, but it is possible. With order and clear goals, you can achieve it and live the life you have always dreamed of, even relying on apps to earn money in Argentina, Mexico, Chile and Colombia . We tell you the 10 steps you can follow to achieve it.
What is financial freedom?
Financial freedom is basically reaching a point phone database where your passive income (the money you earn without having to actively work for it, such as investments, businesses, etc.) comfortably covers your regular expenses. In other words, it's when you no longer have to trade your time for money on a constant basis.
According to a study called ' From Security to Freedom: The Meaning of Financial Well-Being Changes with Age ', the definition of financial freedom is relative and depends on age and its impact on people's lives.
For some, it means having enough cash, savings and investments to live according to their desires. A financially free individual, for example, has control over their finances, allowing them to live on their own terms. For others, it simply means not having debt or having the money to pay it off in the medium and long term.
Boost your brand by creating your own online store.
Is financial freedom legal?
Yes, financial freedom is completely legal. It is a state in which a person has achieved the ability to cover their expenses and achieve their financial goals without relying exclusively on a traditional job.
This is usually accomplished by creating passive income streams, such as investments, own businesses, or rental income, that generate money even when you are not actively working.
read more: Practical guide to finances for entrepreneurs
Benefits of having financial freedom
Does money bring happiness? A study published by Forbes and conducted by Harvard University reveals that yes. After following three generations since 1938, the data revealed that the emotional well-being of individuals increases with income.
Economic freedom brings with it a series of benefits and positive effects in different areas of society. When financial independence is promoted and achieved, a significant improvement is observed in various aspects, such as poverty reduction, human development, democracy, a healthier society, cleaner environments, among others.
It goes beyond making ends meet, buying luxury goods or keeping money under the mattress. In reality, financial freedom empowers people, unleashes powerful forces of choice and opportunity, influences other freedoms and improves overall quality of life.