I have had the opportunity to meet and work with hundreds of people through my work experience, from CEOs of large companies to people who struggle to pay for groceries and everyone in between. Unfortunately, in our society, most people have never tasted financial freedom. The elusive dream seems just out of our grasp. What makes those who are financially free different from those who aren’t? To achieve the freedom that most people don’t have, you have to do things that most people don’t do. Financially free people do not get there by accident. It is a series of choices over time that achieve extraordinary results. This post will outline some characteristics of financially free people that I have had the pleasure of meeting and working with. <\/p>\n\n\n\n
Financially free people understand that it is on them to become financially free at the end of the day. There are no shortcuts, and it requires daily responsibility and reflection, which they embrace. <\/p>\n\n\n\n
Simply put; Financially free people do every day what other people do occasionally. <\/p>\n\n\n\n
One of my favorite definitions of consistency is “the achievement of a level of performance that does not vary greatly in quality over time<\/strong>.” <\/p>\n\n\n\n What’s beautiful about this definition is that consistency does not mean perfection. Again, for someone in the back, consistency is NOT perfection. Consistency requires a longer time horizon to be evaluated. You can’t be consistent doing something once, and by the same logic, you can’t be inconsistent not doing something once. Another way to look at it is that consistency has failure built into it. For example, if you brush your teeth 360 days out of the year, you have consistently brushed your teeth. No one requires 100% accuracy to say you are consistent in something. <\/p>\n\n\n\n When you are consistent in your finances, results will follow. <\/p>\n\n\n\n A simple but essential concept, financially free people spend less than they make. It doesn’t matter how much money you make if you don’t create financial margin in your life. Just because you can qualify for an $800k mortgage doesn’t mean you should purchase an $800k home. <\/p>\n\n\n\n Life throws unexpected punches our way all the time, and those with margin can take and roll with the punches. Unfortunately, most of us get trapped in buying things we can’t afford to impress people we don’t even know or like. We don’t realize the things we buy are actually the chains keeping us from affording freedom. <\/p>\n\n\n\n I’m not saying that buying things is bad, quite the contrary. I am saying that things have more than just the monetary cost to them. They are always strings attached. Please make sure you are aware of the FULL cost of what you are buying before you decide to buy it. The new car may make you feel cool, but is it worth destroying your inner peace because of the debt you are living in?<\/p>\n\n\n\n Financially free people sacrifice what they want now for what they want most. <\/p>\n\n\n\n Shocking, I know, but financially free people save money! I doubt any of us would think of that. In all seriousness, though, the people I know who genuinely live in financial freedom are committed to saving. <\/p>\n\n\n\n2) Live Beneath Their Means<\/h3>\n\n\n\n
3) Committed To Saving<\/h3>\n\n\n\n