If you knew that getting a million dollars was a part of your near future reality, what would you be willing to temporarily sacrifice to get it? You probably think you could give up just about everything if you could confirm that such an offer was real. To my knowledge, it isn’t. But there is something on offer that might be even better. What would you sacrifice for true financial freedom? If that does not seem like an appealing offer, it is only because you haven’t thought about what financial freedom would mean to you.
One benefit of financial freedom is that you never have to worry about not having enough money for life’s necessities. Never mind the luxuries. Wouldn’t it be amazing to never have to worry about a utility bill, rent, or food? That is just the beginning of what financial freedom has to offer. Further, you wouldn’t have to settle for the bare minimum. You could enjoy those things that make you comfortable and happy. Interested? Good. Now, for the bad news. To get it, you are going to have to make a few sacrifices. Here are a few things you might have to give up for a period of time:
The following is a guest post. Enjoy!
Your Reliance on Cash
Cash is a drug that makes you feel like you are in control of your destiny. But when you are holding a handful of cash, you are endangering your future. You cannot do everything you need to do with cash. At some point on your path to financial freedom, you are going to have to trust a financial institution other than your mattress or the can you have buried in your backyard.
To help get your finances in hand, try something like a virtual debit card. It operates online like a regular card. It also has the security feature of being changeable at a moment’s notice. You can change the numbers and the PIN anytime you like. That is even better than a typical card. When you hold your paycheck in cash, it is far too easy to frivolously fritter it away on fading fads. It helps to have a buffer between you and your worst impulses for impulse spending. If that means you have to temporarily give up your illusory sense of control, so be it. At the end of the day, you will be glad you did.
Driving a Car
The shocking fact is that young people are choosing not to drive. Not only are they not buying cars, but they also are not bothering to get their license or even learn to drive. They are not necessarily making a sacrifice as much as they are choosing a lifestyle that makes more sense to them. Could you become a one-car household? How about a no-car household? In some cities, that would be very difficult as they are not exactly bastions of public transportation and ride-hailing options. In such towns, no one sees a bicyclist as anything other than a target. Electric scooters? Forget about it.
That said, even in those places, many people can’t drive for one reason or another. They manage to get their groceries, make it to doctor’s appointments, and show up at work on time. You might have to think a little out of the box. But the temporary sacrifice can pay off big down the road.
New Tech
How long will your current smartphone last if you don't try to update it with new software features? Naturally, you would need the occasional security patch. Beyond that, how many months or years could you squeeze out of it? For some people, not upgrading to the newer, faster, better device is a real challenge. But those new devices are running you broke. That is not to say that you have to be stuck on that PC for the next 10 years. It just means that you have to be honest with yourself about how long it can still be useful. Do that, and you will save thousands every year. That will be a significant step toward financial freedom
Whether it is cash, car, or computer, compare it to true financial freedom. You will find there is no comparison at all.
