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Spiritual Side Of Financial Freedom

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Financial freedom means you have moved on from rat race, peer pressure. There is no room for comparison neither with your previous performance i.e. the job/business you were in nor with the others. It’s time to unlearn old thoughts..

These days Financial Freedom is being discussed in big way on social media. In one of such videos someone said, When the income from your wealth is more than the income you ear, that’s the stage of financial freedom. Actually according to me Financial Freedom Is spiritual in nature. Financial freedom should give you peace, calmness, happiness. Happiness, which comes from within i.e. inner happiness.

Financial freedom means you have moved on from rat race, peer pressure. There is no room for comparison neither with your previous performance i.e. the job/business you were in nor with the others. Till the time you are comparing your previous income with current one, you haven’t got financial freedom and if et al it is, it would be Matrialistic Financial Freedom. Financial freedom means freedom from numbers. Numbers inspire us but at the same time numbers bring sense of pride, sorrow, jealousy and competition.

Instead, identify a number, achieve it and then get detached to it. Its role is over. Focus on leading life the way you wanted to lead. And no one wants to lead the life comparing themselves with others all the time and beyond a point even with their own past as well.

Basic idea of financial freedom is to move on from domesticated life and comparing your current income with previous income is kind of domesticisation only.

Process of Financial Freedom
First of all, Financial Freedom is a mind-set one needs to develop and it doesn’t get developed overnight. Like many other dreams it may also get shattered if don’t develop the mind-set for it and remain stick to it. In case of other dreams, where if one is not fulfilled some other dream may be achieved but in case of achieving financial freedom one needs to stick to it and thought of achieving Financial Freedom only should get stronger. To start with one should have rock solid conviction that it is doable/achievable and for that there should be a very strong reason why one needs to achieve financial freedom.
When this Mind-set should get Developed ?
Unfortunately for a very very long time, idea of financial freedom didn’t strike with Indians as most of us have grown with the idea of working till 60 and then survive on pension. However, the face of society i.e. behavioural pattern has changed drastically over the last three decades. People no longer see themselves working till the age of 60. Even if they wish to, thanks to digitalisation where machines are replacing humans and high burn out ratio at jobs they may not work till 60. Despite knowing all this very few are anywhere close to achieving Financial Freedom in near future.
It’s Time to Unlearn

First thing first, unlearn the idea of retiring at 58-60. Secondly, inculcate the habit of savings and investing at the earliest. Make the teens and young adults financially aware. You can take my help in organising Paise Ki Pathshala, which is done in very easy to understand language. Introduce them to the literature/ presentations and Zoom sessions which are easy to understand.

If an 18 year old is sonsidered smart enough to operate bank account, elect an MP/MLA why the same kid should not be considered smart enough to understand financial lessons. Once it is done, empower them to invest some money from their pocket money on regular basis. Ask them to buy food items like popcorn and cold drinks etc. from their own money, they will automatically rationalise their expenses. By doing this not only their unnecessary expense will get cut down, they will start taking rational and smart decisions with their money.

Only habit of regular investing through strong conviction can help them achieve financial freedom. Instead of showing typical excel sheet calculation of how much one will have after how many years, I would suggest you to hold their hands for first 5 years, walk them through the idea of Financial Freedom. Believe me most of them will save and invest much bigger amount from the day they start earning.

The only condition of achieving financial freedom should not die and over a period of time they will have the clarity about life after achieving financial freedom. Mostly following their interests, hobbies, passion etc. which may or may not bring in money but there won’t be any stress of accumulating more money.

Happy investing and best wishes for financial freedom.

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