One of the things that people look for most when launching a venture is to get their financial freedom, completely forgetting to have limited resources to be able to dispose of their money as it suits them, in fact, many business models promise to give it, even some despite not outsourcing it, they promote a state where you may see yourself without financial burdens.
The truth is that achieving this status is not easy and there are many myths involved, so here we will talk about whether it is possible or not to obtain the much longed for financial freedom.
What is financial freedom?
It is a somewhat ambiguous concept since there is no exact definition, many of the references that exist around it are based mainly on the results that are generated. This means that if you do a little research you will realize that it promotes a high level of tranquility in reference to financial commitments.
In general, the advertisements that are responsible for promoting this type of life are endorsed by images of people on the beach, where the models can be seen sitting on the sand with a calm and peaceful expression, proving that obtaining economic freedom is the key to lead a freer and happier life.
All financial models have certain elements in common with the various ideas that exist about the concept of freedom of finance, these are:
- Have control over expenses.
- Count on investments.
- Have a stable and constant income flow.
- Create surplus
- Stay completely free of debts.
Myths and truths of financial freedom
The myths that you get to read or hear about are mostly influenced by misleading advertising that only recruits more people in your personal businesses, here we leave some of them so you know everything you need:
To have financial freedom, you must have a lot of money and spend it on everything that you desire.
As hard as it may be for you to read it, this is completely false. Being financially free you only get when you can pay all your expenses and maintain a lifestyle that makes you happy only with your passive income, which are those that you get directly from your investments.
It is not a concept that gets along well with the idea of wasting money on all kinds of unnecessary luxuries, it is focused more than anything on covering all the basic monthly expenses. If you already have this, but want to be able to increase your lifestyle, you should only look for ways to get more income passively.
Only people who come from a wealthy family or who have become experts in finance achieve financial freedom.
It is a false argument, and you can easily discover it if you paid enough attention to the previous myth. You do not need to have too much capital to be able to make the investments, nor do you have a Ph.D. in finance, you only need to correctly follow the steps that other people have taken if they have achieved it.
This is not about magic, although it is true that people born in a rich family have certain advantages, it is not a determining factor in this, they are not more or less intelligent than you, what really counts is the effort and the way to take advantage of opportunities.
Once you get financial freedom you can forget your work and dedicate yourself to just enjoy.
Although we cannot tell you that this is completely false, if it is unlikely to happen. It may be that being free in finances allows you the possibility of a more extensive vacation than most, but little by little you will get used to the luxuries and this will make you want to work even harder to have them.
The minimum payment will be more than enough for everything you need.
We are not going to lie to you, it is true that you only need the minimum monthly payments to pay all the bills in your home and buy food for the whole month, but we all like to give ourselves a material whim from time to time, and if you have a very limited budget you will be in trouble to do so.
Credit cards only serve to create unnecessary debts.
Related Topic: Know the relationship between your income and your emotional income
This is only thought by people who have had bad credit experiences, or in that case someone very close. They may not be the best option, you should also be able to buy anything you want only with your income as an investor. Credit cards are not bad, you should only know when and how to use it.
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