Choices leave us confused, we complain! But for me, more choices feel like a blessing I do think it makes our job easier to choose the right kind according to our affordability. To put it in other words, it helps us spend less and save more. That is the point where you can feel more financial freedom.
If you want to reap financial blessings, you have to sow financially.
It is never to suggest that you can buy anything you want. The budget buyers have certainly some limitations. However, they also have more options in life, taking advantage of which will surely land them in much coveted financial stability. Here, I want to stress on financial discipline that will put you in a place where you will enjoy full command over your wealth instead of feeling everything is going out of reach.
Flexibility is Important
Truly speaking, I don’t earn a six digit figure in a month. However, it is surely not a poor figure that hits my salary account every month. I travel frequently and am in habit of dining out at least once in a week. Luxury Living – is it what you are thinking? Obviously, my lifestyle never gets closer to what Bill Gates or Mark Zuckerberg is leading. However, I live a pretty much better financial life than the average Americans. Flexibility of choice helps me a lot.
Once in a blue moon, I visit a celebrity restaurant. Other times, I like to enjoy food at ordinary or new eateries. It costs me less and on contrary to popular belief, food is of great quality here. During travel, I always avoid boarding first class. I also prefer comfortable yet easily affordable inn to five-star hotels. So, you see there are more options in every aspect of spending and that helps me save though I enjoy my life to the fullest.
Just like many of you, infamously called as impulsive buyers, I spend $2000 to buy a Rolex wrist watch. Was it the look that tempted me to break my bank or I just wanted to flaunt off my style? Whatever the driving force was behind my impulsive purchase, I never rue it. That taught me why I must cut my coat according to cloth.
By keeping myself away from on-spur-of-the-moment purchase, I have accumulated a rainy day fund to cover expenses for sudden problems. I have recently my wisdom tooth plucked out. My son has picked up an injury on football ground and undergone a lengthy treatment. However, I have not borrowed a penny because I am financially richer (or disciplined?) enough to handle such unprecedented issues.
Financial Freedom
Even with a moderate income like mine, a person can enjoy financial freedom. Being rich never means you are free and it holds good if discussed from financial perspective. From my personal experience, I can tell that it is not hard to gain financial freedom only if you are patient, disciplined and determined to spend less than your earning.
Live below your means – it sounds like a sage’s advice. If you do just the opposite, it will not take much of time to see a larger sum as debt to your name. The average U.S. household have debt worth $15,762 in credit card debt and $130,922 in total. I don’t say all debts are bad. Sometimes, it is really wise to take loan. However, it is also better to keep the amount as minimum as possible. I borrowed a loan while buying my house. I waited for years to have enough money to buy my first car instead of taking out a loan.
Those simple strategies have helped me save a fortune that could have spent in interest over years. Thus what I saved has gone to fund my frequent holiday trip, inflate my emergency fund, save for retirement and spend on entertainments.
Moral Lesson
Better late than never! No matter who you are, how much you earn and what point you start from, it is always possible to be on your own journey towards financial freedom. The only condition is you need to have strong willpower to realize your goal. Debts limit our choice because you have no way but to spend what could have been saved for your rainy days and to fulfil your other financial ambitions.
I want to preach what I practice and get results from. If following some simple rules can help you live like a free bird despite having limited resources, why not try it? Don’t allow too much red ink on your balance sheet as it will only eat into your saving and tomorrow’s wages. Debt must be considered an unwelcome entry on your balance sheet. Over time, things will get out of your control.
If you spend according to your earning, you will have more improved command over your financial life. Living financially disciplined life never means living like a pauper or miser. As you grow older, you will realize that a disciplined life is financially rewarding and can make you rich despite a modest income.
