Be Financially Free.

I was not a believer of insurance. I was not into investing. I did not know about mutual funds or VULs.

My mindset changed when a co-teacher of mine a couple of years back was diagnosed with cancer and we all knew that it was a difficult time for her, physically and more importantly, financially. Hearing her experiences with the costs of hospitalization and medicines made me rethink on how I could prepare for the future. You know, when a family member gets sick, we don't have choice but to spend lots of money to pay for healthcare bills. There are even those who would sell their properties just to pay for it. Some would go into debts. They get stressed and they get sick. It's a cycle.

So, I did my research and I learned about this so-called "Financial Freedom" and it does not only take a simple savings account so you can say you are financially free. According to Cash Cow Couple (one of the blogs I read when it comes to topics like this), "Being free, financially, means you can maintain your desired lifestyle without a regular paycheck. In other words, financial freedom is the 21st-century definition of retirement."

And we all like that to happen to us, right?

On the other hand, no freedom means we are depending on a regular paycheck in order for us to survive. Now, what if we get sick and we can't work? Our paycheck is compromised and we can't survive (bills are not paid, we go into debt to pay for medical bills, etc.) Again it's a cycle.

That's why it is very important to consider becoming financially free.

So, what can we do to achieve financial freedom?

I found this very nice infographic from a financial freedom journey blog which sums up what we should do to achieve financial freedom.

Right now, I can say that I have not achieved financial freedom yet because I am still in the process of healing the mistakes of my past. Right now, I am doing some steps to achieve this in the near future. I will be sharing what I do (based on experience) on my next blog posts.

Next blog post will be about: Why you should get a Critical Illness plan?

Till then!

Comments

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