What is financial freedom to you?

[TheFifthKey]

I’m halfway through a longish drive, and wanted to stop for a coffee, and the DC asked for food. So I got them something, thought I might as well get food from Costa for myself, and then not have to cook when I get on. And it struck me, this is what money means to me. The ability to buy overpriced food without worrying, and the easier life I’ll have later because of it.

This isn’t smugness - I noticed because it’s the first time in a few years I’ve been able to do this sort of thing without worrying or cutting back elsewhere, and it’s so good.

What little things signify financial freedom for you (please no “we can finally fly first class instead of business” )

It's true- money buys choice, doesn't it.

To me financial freedom is if, even if it’s uncomfortable, you can afford to quit your job to do a course or something and not worry about getting into debt or paying basic bills (water, heating, housing, bare minimum of food etc).

Money is the freedom to literally throw money at a problem that you can't solve yourself whether that's because you lack time, skills or both!

I feel free now I have no debts (other than mortgage) to pay. Being in debt was like having shackles weighing me down. I'm very careful with money now and don't spend a penny beyond my means. Freedom is not worrying about the big things. If the washing machine broke tomorrow, I'd go out without a thought and buy a new one.

Being able to buy coffee out without a guilty pang of “I have coffee at home” is nice too.

Financial freedom to me would mean not having to worry about how I'm going to survive from age 70+ when I expect to give up work.

Financial freedom, to me, would mean never having to work again. I am a long way from that situation!

I agree money buys choice, but not freedom. I'm beholden to my choices. I want a house so I have a mortgage. I want travel. Etc. Unless you are wealthy we are all beholden to the System.

Being able to pay for my kids to go on some of the over priced but fabulous school trips around the world, instead of saying no every time!

For me it's meaning I can help my children (now adult) out when they need it and I can send them treats when I feel like it.

I agree money gives you choice. Our finances have taken a sudden hit so we are £500 a month down. We can survive but we have to think about money and where we spend it and we are not used to it so I hate it. But it has showed us how much we waste and I wish we had, had this wake up call before this ad we could have done so much more with that money than we were doing.

I would like to be mortgage free as that is always the worry and my first thought when I found out about our reduced income.

DM is partially retired and has paid off her mortgage. She was fearful of job cuts on the horizon at work. I pointed out to her that she has no mortgage and has an okayish pension, so she wouldn’t starve. As she is coming to the end of her working life, her career isn’t of importance to her, so she could take any job, which reasonably suits her life style.

That to me is financial freedom.,

In contrast, I was actually made redundant a few months ago and I was thinking about the knock on effect:
I need a job to keep a roof over our heads and food on the table. In order to facilitate working, I need a car and childcare, but couldn’t afford these things without a job.