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Thursday, February 14, 2008

Financial Freedom: The Power of the Reason WHY

The reason WHY is one of the most powerful forces that can push you to achieve your goals in life. Much of the personal effectiveness and self-development literature I read typically exhort you to be clear about your goals and objectives AND to also be very sure WHY you are doing something because all worthwhile endeavours require time, effort and energy and we sometimes get bogged down by difficulties, obstacles and challenges that get in the way of us achieving our financial objectives.

The driving force behind financial freedom
My own personal reasons for wanting to achieve financial freedom get clearer to me each day as I slog as a digit in the organisation. Nasty, vindictive bosses. Unreasonable requests and rude treatment by the higher-ups. Asked to do stuff with low value-add and not recognisable by the big bosses. Being treated as a inferior by arrogant mini-bosses. To be fair, not everyday is a torture but there are occasional times when I am made to feel small and useless. This is a terrible feeling. Some of you may think, grow up Panzer, that's working life. What do you expect?

Exactly! I have grown up and recognised that so long as I am an employee, I have limited control over my own financial security if I am reliant on my job for life. That is why I am so so hungry to develop multiple sources of income, and why I have sacrificed much of present consumption in the past to be debt-free before I hit the age of 40.

While I still have a fair distance to go before I can achieve financial freedom, I realise that because the reason for me achieving it is getting stronger, I am striving even harder than before to do the things necessary to put me well in the path towards financial freedom.

The key focus for my life now besides my career is to:

  • Spend more quality time with family
  • Build up multiple sources of income during my weekends/evenings
  • Maintain a healthy lifestyle
  • Seek a balance in work-family-financial freedom activities
Activities promoting financial freedom can be made part of your life
One of the things I realise about achieving financial freedom is that it does not have to be mutually exclusive with other goals. Skills learnt at work helps one too in financial freedom initiatives and spending more time with family generates more ideas about what I can blog about and also gives me the strong motivation to strive for financial freedom.

While I need to spend more for my family due to my daughter's impending birth, I will also cut down on non-essential spending such as gadgets and lifestyle expenses that I can do without as I spend more time at home. :-)

I look forward to the day when I decide to work because I want to and not because of I have to. That would be an interesting day in the chapter of my life. It is dreams like this that propel us for the daily activities needed to get us there.

Be well and prosper.

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