2.Start investing early with a goal-based approach You can sketch a financial plan around it. Whenever you get a good amount of money in lumpsum, for example, a bonus, pay it towards the loan as much as you can afford. Do this even before you start investing.Īlso, though it is true that all loans are not bad loans – like home and educational loans, which provide certain tax benefits, being debt-free is even a better option than having a good loan. Refrain from using credit cards and take a debt repayment strategy to pay the existing debts. And the worst kind is the credit card debt with interest charged something between 30 to 40 percent. The biggest roadblock to financial freedom is debt. Here are the 3 things you need to do to achieve financial freedom 1.Become debt-free

All you need is a little financial planning. This can be achieved only when you are prepared for it. It is not about being rich and having tons of money, but having enough to cover your expenses so that you can spend your precious time doing what you like rather than doing things just to earn money. So, what is financial freedom?įinancial freedom is having enough residual income to cover your living expenses. In this blog, we discuss financial freedom and a step-by-step approach to how we can achieve it. Though we often spend time discussing the topic and how we can achieve financial freedom, the truth is we are completely clueless about what it actually means.Īnd, if we don’t have a clear idea about what our goal is, how can we ever reach there. Well, these are just vague and half-baked answers. Some say: It’s about buying what you want and when you want having no debt being able to support yourself, or simply being rich.

Different people come up with different definitions. Financial Freedom is a term that we often come across nowadays.

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