What is Financial Freedom?
Financial freedom can mean different things for everyone, depending on their goal. It could mean the ability to buy without looking at the price tag, the ability to travel anywhere, or being debt-free.
Regardless of what it means, financial freedom is important now more than ever, with the COVID-19 health crisis greatly influencing our views about it. Since the start of the pandemic, many Filipinos realized the need to refocus many aspects of their lives—health, lifestyle, and most importantly, income.
In particular, millennials and Gen Z’s started becoming more conscious about their spending habits, sticking close to their budget to cover only the essentials and learning how to have an investment plan.
Here, it’s vital to know the different ways of achieving financial freedom and be prepared to deal with potential setbacks. Yes, not all of your financial decisions will bear fruit right away. But don’t be disheartened. The trick is to omit the luxuries, take small steps, and make meaningful sacrifices to achieve financial freedom.