Financial Freedom Quick Tip #15: Balance
My inspiration for this tip comes from a comment left by my friend Damian.
Damian is a young man who is also walking-the-walk of achieving financial freedom. He took a little longer to reach his goals, but currently he is debt-free, living his dream, and conquering his fears one-by-one as he steadily marches on.
Damian also managed to lead a much more balanced (and dare I say it normal, if there is such a thing) lifestyle than I did, to get where he is today.
Things not worth sacrificing
Here are a few I can think of straight-away:
- Living a life that brings glory to God
- Taking care of your family (physically and emotionally)
- Your health
- Your honesty
- Your happiness
If you are sacrificing any of these things in the pursuit of financial freedom, it’s time to take a step back and re-evaluate your priorities.
It’s not worth retiring at the age of 30, if that means you’ll be doing so alone and unhappy, stuck in a wheel-chair, or at the cost of the people God gave to you to take care of.
If you’re sacrificing some of these important things, you may very well also fail to achieve your financial freedom goals. The reason is simple: motivation.
Becoming financially free requires a lot of discipline and courage, especially during the initial stages of financial freedom. It is much easier for happy, balanced, motivated people to have the discipline and courage they need to become financially free.
Things worth sacrificing
Luckily, there are many other things that are worth sacrificing if your goal is to achieve financial freedom.
Here are a few I can think of that were worth it for me:
- Having stuff
- Driving a nice car
- Living in a “good” suburb
- Living in a big house
- Eating junk-food
- Drinking alcohol, and taking drugs
- Wearing clothes with labels
- Need I mention more?
I also need to mention another great thing about working towards financial freedom: usually it doesn’t require you to give up things you enjoy, but can live without, forever. Most of the time it requires a temporary sacrifice.
E.g. you can drive a nice car, and still be on your way to financial freedom. I do and I am. However, I paid cash for the car I drive now, and for a few years I did not drive a nice car, while I was battling through the tough initial stages of financial freedom.
Know your priorities
This post is all about having your priorities sorted.