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Financial Freedom / Independence

If financial security/sustainability interests you, please let us know by commenting on the issue: #42 (we can easily expand this post and create a video if there is interest!)

## Why?

Being "bound" to a Job in order to earn enough money to live (pay rent/bills) is what keeps most people from doing something meaninigful/fulfilling with their lives.

If you find yourself doing work you don't love (measured by how excited you are to go/get to work each day!) then maybe we can help ...

"Life is good cause everything is awesome.
lost my job, there's a new opportunity,
more free time for my awesome community
!"
~ The Lego Movie https://youtu.be/StTqXEQ2l-Y?t=49s

## What?

Financial literacy in general and freedom specifically is a not taught in school. Some "conspiracy theorists" claim that this is a deliberate attempt to "keep the masses ignorant" so that the "elites" can continue to dominate and live off the labour of the financially illiterate.

I personally don't think there is any "nafarious" reason that financial literacy is not taught in (most) schools; there just isn't enough time to cover the existing curriculum as it is! Also, it doesn't help that most teachers are "wage slaves" (apologies if that's "offensive" to anyone, but it's an accurate description) so they don't know the first thing about finance so cannot possibly teach it to their students!

http://www.richdad.com/Resources/Rich-Dad-Financial-Education-Blog/January-2012/what-is-financial-freedom.aspx

How?

There are two ways to achieve financial freedom:

  1. Increase your (positive) cashflow to exceed expenses.
  2. Lower your expenses so you don't need as much income.

Let's address each of these in turn:

1. Increasing Cashflow

As an individual in creasing your cashflow can be done in several ways.

2. Lowering Expenses

Expenses are usually the easiest thing to control for an individual, but often people focus too much on their expenses instead of simply making more money ...

### Critical (Personal) Questions

There a few questions you have to ask/answer yourself:

  • Do I earn more than minimum wage?
  • Can I earn incremental income if I work more hours?
  • Can I pay someone else (less than what I am paid) to do work I don't want to do?

Further Reading