Why I want Financial Independence

This week I have really been on an introspective journey as to my WHY for financial goals– specifically my “why” for financial freedom. A lot of the literature out there talks about a big why for people being that they want to stop working a job. I wanted to dive deeper into what my personal “why” was. 

It is still formulating completely and I think this would be a good exercise for me to come back to annually and see how it has changed but here is what I have so far: 

Why I personally want financial independence: (As defined by assets covering your monthly expenses to become “work optional”)

  1. Another level of security/diversification
  2. Helps me to cultivate an anti-materialistic lifestyle: Now, don’t get me wrong, I definitely love shopping and clothes and home decor and just about everything materialistic but I do think that working to financial independence helps me to be more intentional about what truly makes me happy and keep that part of my personality in check.
  3. More time with Family/Dan present
  4. Clear goal- allows less financial comparison
  5. The habits I have developed and will continue to develop through working towards a hefty goal like this.
  6. Community- I like surrounding myself with people who can talk openly about numbers, have an abundance mentality, be happy for one another and their financial goals– often these type of people are working towards financial independence.

But when do we want to hit it?

At what cost? (what to sacrifice now vs. splurge)

What savings rate we want to work towards?

These are the types of questions I still have and am still working to answer. But– what I can tell you is that: with every other financial goal we have hit, we have had a clear why and a clear deadline.

That seems to be a critical part of any worthwhile financial goal.

Interested in learning more about our approach to finances?

Attend our FREE Budgeting Class where we outline our Financial Growth System and how you can customize it to your situation.