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Get out of debt and get back the life you deserve and enjoy financial freedom

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Anybody who tells you that money can’t solve all of your problems is kind of lying to you. It’s true that no amount of money can solve self-esteem issues or fix your relationship with your mom. But, money can buy you freedom, and that can be life-changing.

Financial freedom isn’t about buying more stuff or moving into a nicer house. It’s about having agency over your life. So if you’ve been waiting for a sign that it’s time to stop spending your savings on depreciating assets like brunches and handbags, this is that sign. Or if you’ve been waiting for a sign that it’s time to ask for a promotion, this is that sign. When money has a healthy place in your life, it can help you access a new level of freedom that you almost can’t put a price on. Here are other types of freedom that financial freedom gets you.

 

You Can Be Selective About Jobs

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Creating a substantial nest egg is important if you face any amount of job insecurity (which, who doesn’t these days?) If you lose your job and have no savings, you are forced into taking whatever job comes your way first. Even if it pays poorly, is bad for your mental health or isn’t in line with your goals.

Vanguard reports that financial experts say you should have three to six months of worth of expenses in your savings. And Flexjobs says it takes an average of three to six months to get a job, from the day you start sending out applications. So, if you want some breathing room, it could be a good idea to have even more than six months of expenses saved up. This gives you the freedom to be selective, and only take a job that you’re really excited about.

You Can Pursue Real Love

Black couple, travel and beach fun while laughing on sunset nature adventure and summer vacation or honeymoon with a piggy back ride. Comic, energy and black man and woman love on ocean holiday

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Even if you don’t want to admit it, there’s probably a small part of you that assesses dates based on financial stability. Or, maybe you’re very open about it and list salary requirements on your dating profile. It’s human nature to crave stability. And when you haven’t created full financial stability for yourself, you can feel pressure to only date people who can provide that. That can mean writing off otherwise great mates, because their bank accounts don’t meet your requirements.

Gaining financial freedom also means gaining the freedom to date based on compatibility and chemistry. That’s it. And that’s pretty liberating.

You Can Have Value-Based Collaborations

Job interview, human resources and handshake with business people in meeting for welcome, deal or thank you. Management, contract and partnership with black woman and client for b2b, hiring or vision

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If you’re building a business, collaborations and partnerships matter. But, if you’re starting with no sort of nest egg or savings, you can feel pressured to take any collab that comes your way. That can mean doing paid partnerships on your socials, with brands you don’t believe in. Or creating partner content with other brands who don’t represent your values – because they have the follower base, and you need access to it.

Going into business with some financial runway means you can build it based on your values, starting with the very first steps. You gain the freedom to only partner with people and companies who share those values.

You Can Create More Peace

Business travel

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Money can’t buy happiness but, in certain situations, it can buy peace. It can mean finally not having to live with a roommate, and all that drama. It can mean staying in a hotel when you visit family, instead of with that toxic cousin who causes you stress. Having money can empower you to uphold more boundaries, which can bring peace.

You Can Buy Back Mental Real Estate

Black woman stretching in office to relax at desk from easy project deadline, achievement and smile for business future. Hands behind head, happy worker and finish job goals, happiness and motivation

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The bottom line is that money worries are strong. If you have them, they take up most of your mental real estate. They’re always in the back (or the front) of your mind. They influence all of your choices, and you’re stuck making decisions based off financial fears – and those are rarely the choices with the best outcomes. Financial freedom means gaining back peace of mind, so you can make space to focus on the things that matter to you.

How To Work Towards Financial Freedom

Young woman is cutting up a credit card with scissors

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Financial freedom is easier said than done. We get that. So, getting there depends on your current situation. Some steps towards it might include:

  • Spending less on meals and entertainment
  • Spending less on luxury goods
  • Setting up an automatic deposit to your savings account
  • Meeting with a financial advisor and diversifying investments
  • Taking up a side hustle, and putting that money aside
  • Asking for a raise
  • Looking for a higher-paying job
  • Getting a roommate to save on rent
  • Refinancing debt at a lower rate