(Financial) Freedom Isn't Free

Freedom isn't free.

Simple but powerful.  

Do you take time to think about what that means when you see it on a bumper sticker or t-shirt? Our country enjoys so many freedoms due to the sacrifice of our men and women in uniform.

Financial freedom isn't free either. Achieving financial freedom has its own set of costs and sacrifices.

Your definition of financial freedom is different than mine. My definition of financial freedom today is different than it was 20 years ago and will probably change many times over the next 20 years. 

But how to achieve financial freedom doesn't really change that much over time: 

Spend less than you make, pay off debt, and plan for the future.

Simple but powerful.

We sacrifice our time and energy to earn money. We give up being with our families, our friends, and our hobbies to go to work. But not everyone turns that sacrifice into freedom.

Easy credit has taken away many folks' financial freedom. Reaching to buy a house has made many homes inescapable jails.  Always having a car payment is a heavy yoke. VISA, MasterCard, Macy's, or the Student Loan is a ball amd chain.

Debt takes away freedom

Living paycheck to paycheck may keep you in a less-than-satisfying but high-paying job because you can't risk trying something new.  

Not being able to sell a house may keep you from jumping at a new career opportunity.

Taking on too many student loans in college may keep the 27-year-old parent chained to a full-time job - when they really want to stay home with their children.

Working full-time may not leave enough time & energy to volunteer for an important cause.

The scariest one of all: Not being able to retire with dignity because you have too much debt and didn't save enough money. (Employee Benefit Research Institute 2011 survey found that 56% of workers had less than $25,000 in savings & investments, not counting their primary home & defined benefit plans.)

Course Corrections

If those monthly debt payments and/or poor spending habits have caused you to detour from your road to financial freedom, what sacrifices or changes are you willing to make to get back on the right path?

Can you-

Take a part-time or weekend job to pay off credit cards

Eat at home rather than order take-out or dine out

Cook from the pantry and freezer rather than run to the store

Rent a Redbox video rather than head to the movie theater

Sell your new automobile and buy a clunker to free up that payment

Sell your extra "stuff" at a garage sale, on craigslist, or ebay

Dig through your jewelry box and sell broken items for cash

Replace only necessary clothes

Tell your kids "no" more often

Forfeit the annual family vacation

Cancel your magazine subscriptions

Downgrade or eliminate your TV cable/satelite package

Give up expensive vices -wine (I dared to say it in the middle of wine country!), beer, tobacco, lattes, gambling, designer this and that, mani-pedi appointments

...and the big ones....

Take a hard look at your personal spending habits and make changes.

Sit down with your family and plan out a budget for the next month with realistic numbers.

Are you willing to aim high in order to be one of the few, the proud?

It takes a lot of hard work and sacrifice to pay off debt and to save for the important things in life. What's important enough to you to make these changes? 

Financial Freedom isn't free or easy.  But with some short-term sacrifices and long-term changes in money habits, you can earn your freedom!

Have you achieved Financial Freedom? What changes or sacrifices did you make along the way?

Are you on the road to Financial Freedom or have you taken a detour?  What changes do you need to make to get back on the path?

Freedom isn't free. Take every opportunity to thank our military members & families for their sacrifices to protect all the freedoms you enjoy.