It’s become something of a joke in our household – asking each other the question: “Are you financially free?!”
Back when we were newlyweds, we were targetted by a couple of different people to “join their business” (aka Amway). Mind you, they never came right out and said “Amway” until after a couple of dinners or lunches together. And here we thought we were just making friends …
One of the phrases that kept popping up in their conversations was: Are you financially free? Do you want to be financially free? This is how you can be financially free!
It was so obvious that they were just repeating the “sales speak” they had been taught as part of the whole scam pyramid scheme that is Amway.
Needless to say we didn’t join – and we didn’t really hear from either of these so-called friends again, either!
What does being Financially Free mean to you?
Of course, it all depends on what you mean by “financial freedom”.
To some people, it is as simple as living comfortably, within their means.
Others think it means owning their own home; winning lotto; not having to work; being able to afford frequent trips, holidays and dinners out; or being able to indulge in whatever luxury item has currently taken their fancy.
But I think the true secret to being financially free, is how you look at it, rather than how much money you actually have.
I Am Financially Free!
Apparently I am a rare creature. I am happy with where we are at financially and yes, I do feel like we have enough.
Like many middle aged couples, we’ve worked hard, bought a home and are now pretty much debt-free; with our kids grown, we no longer have any dependants. I know what it’s like to go without; after all I was raised by a single parent. We lived frugally and made a habit of budgetting right from the start of our marriage, in a bid to make a serious dent in our mortgage. Then we were a single income family for many years when the kids were small … now however, we are enjoying the fruits of our labours.
We have enough money for the necessities like food and shelter and even the more expensive ones like insurance; and can even afford to do fun things. I can buy a new dress if I feel like it, splurge on a magazine, we go on outings and the occasional holiday, and can help family out when needed.
I still have to work. I don’t drive the latest car (and in fact, have never owned a brand new car in my life). I don’t want a mansion (because I know who would have to clean it!), nor do I wear designer labels (unless they’re from the op shop!).
But I am content, and to me, this is what it means to be financially free!
What is your definition of “financially free” – and are you?!
Joining up with:
Kathy Marris says
It is refreshing to hear that you are happy and content with what you have Janet. So many people are too materialistic these days and to keep up with the Jones’es have to have the best of everything, only to find themselves in financial trouble. Living within your means is very important for setting yourself up for financial freedom later on in life. My husband and I have done a lot of “going without” to get to where we are today. 🙂 #TeamLovinLife
Janet Camilleri says
Yes, and we started out with literally nothing! Whereas these days I think young people want it all NOW.
Deborah says
This is a hard one for me cos I’m the sort of person who’s never satisfied and always wants more…
I was debt free when I got my part-time job last year and the first thing I did, was buy a new place and have a mortgage again. I haven’t exactly over-extended myself but realise my salary really isn’t going to allow many treats.
I’m constantly torn by the notion of needing / wanting ‘more’ vs wanting work / life balance.
I did a values-based thing once and it’s challenging for me as my two highest ‘values’ are financial security and freedom… and it’s hard to balance the two!
Janet Camilleri says
What a conundrum!
Vanessa says
I’m not financially free at all. For me it would be owning a house, having private insurances and something for holidays.
Janet Camilleri says
I have to agree with you Vanessa … the pressure really does ease once you have pretty much paid off your house …
Min@WriteoftheMiddle says
My definition of being financially free would be the same as yours! We could do with some more money but I am content and do not go without so I am very grateful for that. 🙂 #TeamLovinLife
Janet Camilleri says
It’s a nice place to be isn’t it Min 🙂
Melissa @All Around Oz says
It’s a tough question. For me it’s not having to live from paycheck to paycheck. I remember doing that a lot in my younger days. Like you we have made lots of sacrifices to get where we are today and a few mistakes too. Our focus now is on being able to afford to travel all around oz (see what I did there) for the next few years.
Janet Camilleri says
Sounds wonderful to me! I would love to do more travelling (overseas especially – having caravanned around Australia back in 2001) but hubster doesn’t have as itchy feet as me …
Leanne | www.crestingthehill.com.au says
I’m exactly the same Janet. We have lived extremely frugally over our entire married life. In doing so we own our home and can both afford to work part-time now our kids are gone. Both our kids worked and qualified for Youth Allowance to pay for their tertiary education (they had to move to the city to go to uni) so they have never been a drain on us financially. I love being content with where we’re at – and also knowing that there is a bit in the kitty if we have an emergency or want to go on a holiday.
Janet Camilleri says
It’s a great place to be isn’t it Leanne!
Jan Wild says
Love your definition of financially free. Whilst there are undoubtedly those who really do go without and struggle to feed and clothe themselves, for most of us the concept of ‘enough’ is definitely in our heads.
Jan Wild says
I love your definition of financially free. Whilst there are definitely those who really do struggle to feed and clothe themselves, for most of it the concept of ‘enough or not enough’ is definitely in our heads.
Janet Camilleri says
Yeah I can’t be bothered with the whole keeping up with the Jones’s thing.