8 Limits to Attaining Financial Freedom

Though, like all things in life, financial freedom does not come easy. If you wish to improve your economic conditions, you must make significant daily changes and sacrifices.

Below are eight limits to attaining the freedom we all seek.

Saving and investing should always be valued, though the key to increasing your net worth is to focus on earning. Concentrating only on a lifestyle of living frugal and cutting out coupons may force you to miss significant opportunities. Even in a cash crunch, deny thrifty thinking and target your energy on the big picture, increasing your income.

Most Americans prefer to receive a steady, regular paycheck. While the wealthy prefer to be compensated by a results driven mindset. These individuals are usually self-employed. There are certainly highly skilled and re- spected employees who perform at a high-level year in and year out. Keep in mind that this is the slowest method to build wealth. All the while, marketed as the safest method. Those with self-employment experience know that it is the swiftest method to achieving wealth.

You have heard the phrase, “money does not grow on trees.” To create increased revenue, you must establish goals and create a plan that includes solid deadlines. Allowing flexible deadlines or not focusing on achieving deadlines decreases productivity. Concentrate on achieving one key goal at a time with passion. And be sure to set a deadline for which to complete it. This is how successful, self-employed individuals build wealth.

We have all been there. We cannot afford to buy an item and use credit to make it happen. In the end, it costs more money to purchase the item due to interest fees, or maybe even late payments. Additionally, because some earn so little, they can get caught up in spending all they make just to exist. Instead of just breaking even, put some thought into whether you can create several sources of income. Additionally, there is something to be said for the philosophy of paying yourself first before all other bills are paid. So rather than spinning your wheels on spending all that you earn while maybe saving a bit at a time, figure out the right path on how to make more, invest after paying yourself first, and then use the rest how you see fit.

Would you instead seek education or entertainment? We all enjoy a rainy weekend binge-watching a show on Netflix. However, continuing education long after wrapping up your final days in a classroom brings out the power of lifelong learning. Successful individuals read ferociously and value learning how to improve their lives. Those that do not have a mindset of continuing education spend their free time on entertainment only. Find the right balance.

In today’s “cancel culture” world, we experience numerous examples of toxic people and relationships. Personally and professionally, who you opt to involve yourself with matters significantly in many ways, including your earning potential. Emotional intelligence certainly comes into play, but we absorb the thoughts and ideas of those with whom we associate. Exposure to more successful people will broaden your thinking and help drive your income.

Most of us want to seek and be comfortable. On the other hand, successful individuals seek, enjoy, and thrive on uncertainty. Respected strategists learn quickly that achieving financial freedom is difficult to navigate. Becoming too comfortable will likely derail the efficiency of those seeking unlimited success. The profitable adapt to being comfortable while operating in a position of constant uncertainty.

Great professionals and entrepreneurs can operate in a state where fear does not exist. Any idea can become possible when you can eliminate fear from your daily thought process. These individuals can take what may seem like a nutty idea to most and chart a course toward accomplishment. To thrive in this existence, you have to leave your comfort zone behind.