How to achieve financial freedom
While growing up, we have always been taught that in order to be successful in life, we need to read hard, work hard, pay close attention to every detail, get as many good grades as possible, then get the best job possible.
When you get that dream job, if lucky, you will be secure financially, and build a good pension pot, where you will live your golden years in comfort!! This is no longer a reality, but instead a pipe dream. Does this plan really guarantee a decent house, well-kept garden and picket fence around it? You cannot rely on anything or anyone else to give you freedom in your later years.
If we track the life of some educated people, the financial script often goes; the child goes to school, graduates, finds a dream job and soon has some money to spend. The young adult now rents an apartment, buys a TV set, new clothes, some furniture and of course a car.
And now bills begin to come in. One day he meets someone special and sparks fly, they fall in love and get married. For a while life is blissful because the costs are more or less the same as when they were single.
They now have two incomes, only one rent to pay and they afford to save a few dollars aside to buy their dream house, which is okay! So they now have a mortgage. Because they have a new house, they need new furnishings and so they find furniture stores that advertise with those magic words, “No money down, easy monthly payments”. Life is wonderful so they throw a party to all friends as they enter their new home.