Whenever the term “personal finance” is heard, the first thing many people would think of is money. After all, why would anyone study finance without having the goal of becoming rich one day, right?
While some may simply want to get out of debt, others will want the luxury to purchase anything their heart desires. Regardless of their motivation to study finance, the sad truth is that more money will not bring happiness nor will it make all your financial problems go away. If anything, it will only create new problems for you to deal with.
Although I have a plan to retire young and become financially free, this is not the sole purpose of my financial journey. I am someone who would like to live life on my own terms. This includes not having to conform to societal norms nor having to go to a job that I hate. I do not want to be looking to others for direction on how to live my life.
To me, time is the most valuable currency as it is something that I can not get more of. The more free time that I have, the more wealthier I would feel. As strange as it sounds, I would rather be poor and happy than rich and miserable.
The reason that I want to be financially free is much more than just wanting to live a luxurious lifestyle. I want to have more time to spend with my family and pursue the things that I value. The freedom to live my life however I want to serves as my motivation to continue pushing forward in improving my finances.
A year ago, I made a big decision to switch from a full time job to a part time job. No one understood why I did this. In fact, some of my family and friends even disapproved of it. However, in my heart I knew that it was the right thing to do. As expected, I was blessed with more free time to work on improving myself and my business. I knew that if I got too comfortable at my day job and stopped making progress, I would get stuck in the rat race.
Just to be clear, I am not encouraging everyone out there to just quit their job or switch to a part time position like I did. Circumstances may vary and for many, this transition would not be feasible. Regardless of your situation, progress and self-improvement is crucial when it comes to succeeding in personal finance. The biggest obstacle in a full time job that consumes all your energy is finding time to this. If you could manage to do both, you are definitely on the right track. If not, perhaps its time for a change.
At some point of your journey, you will also need to learn how to take some risks. I’ve learned that personal finance is not just about money but the life you would want to make for yourself with it. If you were to lose all your money in a day, you could always go out and make more. The same could not be said about time.
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