Financial freedom–a term tossed around quite a bit in the blogosphere, among money experts and an elusive “holy grail” for many people. It’s a concept touted on websites and in books alike–the idea that one day, after enough hard work, we can all live a comfortable life with little worry about finances.

But what does financial freedom actually mean?

With all the penny pinching, balance checking, time spent tracking expenditures and endless recalculations, it’s no wonder people feel bogged down, worn out and stressed about money. Hell, given my recent decision to leave my day job, I had to work through my own money stress in order to determine that I could finally strike out on my own. It’s clearly no secret that money is a subject which is sometimes (or, in extreme cases, always) fraught with anxiety for most people.

Do you rule your money–Or does it rule you?

When it comes down to it, your relationship with money (and subsequent path to financial freedom) can be identified by asking yourself one question, “Do you rule your money or does it rule you?” Your answer to this question highlights the inner core of your financial being: Whether or not you’re a slave to money.

How to know if you’re a slave to money

Signs of being a financial slave include overdrawn bank accounts, accumulating balances on high-interest credit cards, collection calls, missed mortgage payments, etc, etc etc. With each of these instances, the reality is clear that a lack of funds is wreaking havoc on your finances. When you’re constantly digging yourself out of money-related messes, how can you possibly get ahead?

But what about some of the causes for the shortage of money? Sure, there are unique situations such as illness or accident but the majority of those who are slaves to money are in this position because they aren’t managing their finances responsibly.

Perhaps they’re mindlessly spending or trying to keep up with the Jones. Maybe they’re lazy and apathetic about learning fiscally responsible behaviors. They could constantly make excuses for why they’re “bad” with money. Whatever the reason, the essence of the issue is more about gaining control over one’s money in order to build a financially stable future. It’s not about repeating the same damaging behaviors and hoping for different results or expecting to win the lottery as a way to turn a blind eye.

The road to financial freedom

If you’ve asked yourself the question above and have realized that you’re a slave to money, fear not–there are many ways to get yourself on the straight & narrow. Your first steps should include educating yourself about sound money management, identifying where your money comes from and goes to (a budget is a great tool to do this!) and seeking support from the people around you. Just as Rome wasn’t built in a day, neither will your finances be repaired.

Remain calm, stay inspired and commit to turning your finances around. Your future self will thank you as you’ll no longer be a slave to your money once you have control over it and know how to use it correctly.

Are you a slave to money?

 

Photo credit: vectorportal