I met an interesting person in the last few days. I was having a conversation with them for a very long time, and one important topic was about Financial freedom. At first, when I started talking about money and savings, he did not show any interest at all. I know for a fact that he is earning a lot of money. Maybe he is doing some regular saving,s but he intends to not save money and achieve financial freedom.
Keeping life very simple
I learnt one thing from the conversation that he is keeping his life very simple and is going with the flow. Having some fire in us is good but at the same time, we shouldn't be pushing ourselves really hard. I had a thought that this is not a good ideology, and throughout the conversation, I was thinking that he was wrong, and he was missing the point of becoming financially free.
But the perspective was in such a way that attaining financial freedom is good but let it happen automatically. He was also very bold to say that financial freedom is not something that he is interested in achieving. Until he is alive, he would like to keep working and mostly work on something that he likes the most. He is not interested in leaving his job and looking for some other fortune and forcing himself to a complicated life.
Spending the money
Today he is spending a lot of money with the family in creating memories with the family. After seeing his perspective, I got fine-tuned to some extent. By saving more money and keeping them in the bank, what are we going to achieve? It is not that I'm going to stop my journey towards Financial Freedom. But I'm not going to keep it very hard or force myself on anything.
Spending the money that we earn is very important. Some people have the thought that they would like to spend the money only after their retirement. But I have had conversations with some of the retired people and they all say that we should be doing things only at a very young age. Once people get old, it becomes hard for them to travel or chase their dreams. It is better to explore everything when we have the strength in our body.
Emergencies should be taken care of
When we see people not saving enough money, I was able to see one thing though that they have things sorted out for emergencies. I have seen a few people having some backup reserves. One of my friends used to tell me that he has some funds safe in the bank that will make him keep going for months if his monthly income stops. Imagine if we lose our jobs for some reasons, we should be able to survive. My friend had a reserve for 12 months and then quit his job to look for his next opportunity.
Anything can happen to the family members or even ourselves. During emergency needs, we should be having enough funds to take care of the family or medical needs.
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I love the idea of 'keeping life simple' but, financial freedom, financial awareness is important too
This is a really interesting perspective
I get the whole go with the flow mindset, but man, not saving at all, that’s a bit risky for those that do it. Enjoying life is great, but emergencies don’t wait. I love the article, we should spend, but have a backup too
Lots of data is missing here. Maybe your friend has an inheritance which he never mentioned to you. It's kinda dumb to spend it all. That kind of attitude will definitely put him and others who depends on him in harms way. I'm strictly talking about medical emergencies here. It's bound to happen when people get old.
One more covid and it's over for him with this attitude. Stick to your own plan Bala because you know everything in your life that's happening and others have a tendency to hide certain things so to an outsider, without knowing much, how can he copy paste the same strategy?
I like the point of not being too hard on ourselves, just keep it simple. Life has it's difficulty already, just live free.
Thanks for sharing this with me
It is good to have money for emergency... Save money can be useful to buy a house, it's still good to spend a part to enjoy life tough
I would love to leave job, what a waste of life working