Back in August we talked about creating a definition of Financial Freedom and also Finding Your Why for wanting Financial Freedom. Did you discuss this with your husband or wife? If you have, then great job, pat yourself on the back. If you haven’t, it is time to open up and share your vision for your financial future.
We already discussed ensuring that you and your significant other are united on your budget, retirement plan, and your debt payoff plan. However, how you define Financial Freedom and what your reason for wanting to be financially free is just as important.
You don’t have to agree…
In many households a husband and wife have a very different reason for wanting to be financially free. I have heard people say they want to fix up an old DeLorean. While others have said they want to be able to eat out more with friends. For my wife and I, it is to travel and see the world. Unlike most areas of your Financial Freedom Journey, you and your significant other do not have to share a reason for wanting to be financially free. Both of you are different people with different pain points and triggers. Therefore, what will help you push yourself towards Financial Freedom might not be the same for your husband or wife, and that is OK.
Defining Financial Freedom
Defining Financial Freedom is critical to your success and is the foundation for your journey. Therefore, it should be the first item you and your husband or wife discuss. Unlike your reason for wanting to be financially free, your definition should be shared. You need to find out at what point you will consider yourself to be free. My wife and I define it as being debt free and financially worry-free.
I welcome and encourage you to steal our definition. In fact, I wouldn’t settle for anything less than this definition. However, you might want add to it, such as having college funds for your little ones or maybe it is retiring at 40 years old to enjoy your glory days. No matter your definition it is important that your husband or wife share it with you. If you do not agree on a definition then don’t know when your journey has been completed. Don’t let this happen to you, know what you are fighting for and when you have completed the good fight.
The Financial Freedom Journey is not easy, however, when you are united as one with your significant other and have a partner to help you on the way, the journey will be much easier.
Your Financial Freedom Partner,
Joel Parker
