Why Do You Want Financial Freedom?

Almost all of us know that we want financial freedom, but seldom do we know that why do we want it after all? It may seem a little too obvious a question, but nevertheless its true-the fact remains that most of us would be baffled if we are asked to put down why we hanker after financial freedom?

Well, for me, I want financial freedom because it gives me the ability to

-do anything that I love to do
-stop worrying about monetary issues
-get out of the rat race
-spend more time with family
-find time to exercise
-enjoy longer leisure hours
-have a lifestyle of my choice
-go on frequent vacations
-chill out with friends and loved ones
-donate money for social causes

Well, you can make your own list of reasons as to why you want financial freedom, just the way I have done. Your ‘whys’ may not match mine, but that’s only natural.

It’s important to know the ‘whys’ of things. Once you know why you really want to obtain something, it will keep you ticking. You will want to achieve your goals more quickly and more efficiently. I look at my list of reasons whenever I am demotivated and trust me, it really works.

After you get your list of ‘whys’ done, you should set up a personal inventory for yourself. It is a system by which you would know your current position in the course of action that you have decided for yourself.

I am sure it will be great fun doing this exercise. It will let you know whether you are going in the right direction. Even if you realize later that you have gone wrong in some way, you can come back and mend your ways again.

Another thought-provoking exercise would be to make a list of reasons why you think you are not financially free at the moment. This is important because money is an exceptionally powerful force that can easily destroy you if only you allow it to. Learn the art of mastering your money; never let it be the other way round. You can never be debt-free if you cannot do this. So show some brutal honesty – analyze the reasons why you are in debt. And when I say ‘in debt’ I don’t mean the financial crises that are beyond control and inevitable in life, but all those times you allowed money and its power to control you.

Here are some questions to consider:

Do you buy stuff to mask your own insecurities? Are you using money as a drug to comfort yourself? Do you feel you have to compete financially with your friends, coworkers, neighbors, and family members? Are you trying to impress someone? Your parents? Who is telling you that you have to live high on the hog? What is it that compels you to buy that item right now? Why don’t you have enough self-control to buy later or never?

These are serious questions which must be answered before you attempt to control your money with any kind of budget or financial system. Otherwise, it’s like treating cancer with a Band-Aid. You might even consider psychological counseling for your money difficulties.

With the list of reasons, you will form the foundation of your success. Most of us keep busy in pursuing different things, but more often than not we do not know why we are doing it. Once you have your list of reasons ready, you would know what your heart really wants and isn’t that great?