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What Is the Meaning of Financial Freedom?

Sorry, Ladies, Financial Freedom Isn’t About Luck. Prince Charming, Leprechauns and The Government are Not Going to Save You

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Sorry, Ladies, Financial Freedom Isn’t About Luck. Prince Charming, Leprechauns and The Government are Not Going to Save You

Whether you’re Irish or not, you may have had an eventful weekend celebrating St. Patrick’s Day, and probably even found yourself wishing for some luck. But if you are waiting for a leprechaun or a four-leaf clover to help you achieve financial freedom, you’ve probably had too much green beer.

According to Merriam Webster’s Dictionary, the definition of luck is:

a : a force that brings good fortune or adversity

b : the events or circumstances that operate for or against an individual”

Well, guess what?

When it comes to financial freedom, or any kind of success for that matter, the one force that brings good fortune is you.

How often do you sit in your cubicle, daydreaming about what it would be like to quit your boring nine-to-five job? Do you have that one friend who always seems to be on vacation and living life to the fullest — and wonder how she pulls it off? Have you ever thought about selling all of your possessions and starting a new life somewhere else? Do you wish you could leave your husband or boyfriend, but are stuck in the relationship because he’s the breadwinner? Do you often wonder if you could somehow turn your pottery or photography hobby into a real business?

If any of these scenarios sound familiar, then chances are, you aren’t experiencing freedom. Freedom is defined as “the state of not being imprisoned or enslaved.” Now, you may think you’re free because you aren’t in prison, don’t live in a war-torn country, and make your own decisions.

But, think about your mortgage. Your car payment. Your credit card bills. Student loans. If you stopped paying those, you’d be sent to collections, your credit score would plummet, and you’d be in financial ruin. Your financial obligations are like a weight around your neck — and for many, this weight gets heavier and heavier as your financial burdens become larger and larger. That sure doesn’t sound like freedom. In fact, you are probably tied to many financial commitments that prevent you from living up to your true potential — to achieving financial independence.

What is the meaning of financial freedom?

Financial freedom is about much more than just having money. It’s the freedom to be who you really are and do what you really want in life. It’s about following your passion, making choices that aren’t influenced by your bank account, and living life on your terms.

Many of us, especially women, lose sight of who we once wanted to become, because we are so busy putting others first. As we play the various roles of parent, spouse, employee, friend, and more, we watch our dreams slip away. Even if you find these roles rewarding, there may still be an underlying foundation of resentment that leaves you wondering, “what if?”

If you want to be financially free, you need to become a different person than you are today and let go of whatever has held you back in the past. It’s a process of growth, improvement and gaining spiritual and emotional strength. In other words, whatever has held you back in the past or kept you less than who you really are will have to vanish. And in return, the powerful, happy, playful, brilliant you will emerge — like a butterfly shedding its cocoon.

The achievement of your dreams is the true reward of financial freedom.

Wake up Sleeping Beauty!

Remember, “luck” and “hope” are four-letter words. It’s time to stop hoping and start doing… so instead of thinking of a four-leaf clover this week, think of a triangle - the Triple-A Triangle™ of Aspire, Acquire and Apply.

You do not need money or luck to change your life. You need a goal, financial education to make it happen, and most importantly, to take action on what you learn.

Yes, it’s much harder than accepting entitlements from the government and others.

Yes, it takes time, effort and sacrifice.

Yes, it’s scary.

But you owe it to yourself to create the best life possible for you and prepare for the future.

Money Does Not Make You Rich

Just because you have money does not mean you have financial freedom. In my book, It’s Rising Time, I talk about how people like Ed McMahon from The Tonight Show and Nicole Murphy, the ex-wife of actor Eddie Murphy, had millions of dollars and lost it all. Nicole Murphy spent her $15-million divorce settlement in less than four years. And toward the end of his life, Ed McMahon faced foreclosure on his Beverly Hills home and owed $747,000 in credit-card debt.

Both of these examples illustrate that having a lot of money means nothing if you don’t know what to do with it.

Of course, it’s also important to note that money isn’t the thing that makes you truly rich — it’s the freedom that comes from pursuing whatever brings you joy and provides you with fulfillment that makes you rich. The whole point of financial freedom is that once you become financially free, you have more choices of how to live your life and spend your days.

Taking Responsibility for Your Own Financial Future

Currently, approximately 25 million women in the U.S. live below the poverty line. And if you are living from paycheck to paycheck, you are not that far away from losing your house, all your possessions and your dignity.

It just takes an unexpected job loss, extensive medical bills or another emergency to wipe out your savings and everything you have.

So now, ladies, it’s time to be honest with yourselves; even if you don’t like the answer. Do any of these statements sound familiar?

  • I will find a rich man to take care of me.

  • I don’t want to deal with numbers and finances, so I’ll just ignore it.

  • I’ll take the easy road today and deal with the consequences in the future.

If so, you are not alone. These are common choices women make. But if you don’t take financial matters into your own hands, you won’t have any control over the outcome you want — essentially, poverty is knocking at your door, and you can probably kiss your dreams of a secure financial future goodbye.

The good news is that it’s not rocket science: You can take control of your situation, no matter what it is, and enjoy the many perks of financial freedom. Whether you decide to follow your passion and build your own business, get involved in real estate investing, or invest in commodities like gold and silver, the world is your oyster!

Enjoying the rewards of financial freedom is simply a matter of increasing your financial education and determining where you are now financially and where you want to go.

What will you do?

Wouldn’t it be nice to reduce the stress you feel about money and your future? Take control of your situation and begin your journey to financial freedom. Start with baby steps and find supportive people to help you. Get a financial education and take action.

To start your journey, begin by reading up on the Triple A Triangle™. I’ve broken down the process into three, easy-to-understand areas that include: Aspire to achieve a goal, Acquire knowledge, and Apply what you’ve learned to be successful.

I know it can be scary to make change happen, but think about it: if you don’t take action now, what does your financial future really look like? All you need to do is take one step. Do one thing every day that will get you closer to your own financial dream — the key lies in taking action. You simply cannot have something without doing something to earn it. So, if you truly want it, ladies, it’s yours for the taking.

For help getting started on your path to financial freedom, check out our free, financial education resources here.

Original publish date: January 05, 2012

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