How to Achieve Financial Freedom?

[Suba]

Everyone certainly wants not to continue working hard to make money day and night until their old age. However, many people do not know the ways and strategies so that financial freedom is only a dream.
There are many ways that people can do to achieve a state of being free from worrying about lack of money so that they no longer need to work hard all day long, such as thrifty, saving and investing. What do you think?

 

[eldavis]

If you want to really achieve financial freedom, you need to work hard for it. Its not going to be easy but consistency and hard work is key and you cannot really achieve this by just working under someone.

 

[Starmix]

We can achieve financial freedom if we do not have debts, and we live on interest through our savings. It is best to always apply the 50-30-20 rule and the Rule 72 Albert Einstein to know when money doubles through its compounding interest.

 

[Suba]

We can achieve financial freedom if we do not have debts, and we live on interest through our savings. It is best to always apply the 50-30-20 rule and the Rule 72 Albert Einstein to know when money doubles through its compounding interest.

You are right, one of the conditions for achieving financial freedom is that we must be free from debt and invest, but we also need to set realistic financial goals (according to our abilities) first, for example changing a wasteful life into a frugal life, so that we have excess money to save.

 

[Starmix]

You are right, one of the conditions for achieving financial freedom is that we must be free from debt and invest, but we also need to set realistic financial goals (according to our abilities) first, for example changing a wasteful life into a frugal life, so that we have excess money to save.

That's also one way to save for the future to live on frugality but one must be healthy living on frugality. It's not good to be sick. This time I noticed in bank there are only few savers and that's because of the high cost of commodities, people prefer not to save on this trying time.They prioritised their daily needs.

 

[Springtime]

To achieve financial freedom, you have to work hard to make money, spend less than you earn, ,and make investments so that money can work for you. In this way, your wealth will grow.

 

[Stardom22]

For me the financial freedom is achieved by stating a very successful business of my dream. The business must generate enough profits for the business sustaining of the business and make enough savings that can be used to invest in bonds.

 

[Suba]

That's also one way to save for the future to live on frugality but one must be healthy living on frugality. It's not good to be sick. This time I noticed in bank there are only few savers and that's because of the high cost of commodities, people prefer not to save on this trying time.They prioritised their daily needs.

I totally agree with you, even though we live frugally but we have to take care of our health so we don't get sick, My country currently has no interest on a savings account, so I'd better move it to a deposit. Bank accounts are only for transactions and daily needs.

 

[nomad]

You can become financially free only when you have passive income sources that not only pays your bills but even finance your luxuries. You cannot become financially free until you are working to pay your bills

 

[Suba]

Many people think that to achieve financial freedom we need to add sources of passive income streams, but in my opinion the most important thing is to be able to change the mindset from extravagant living habits, to be more efficient and to be able to save and invest so that this will automatically increase passive income streams.