Wednesday, September 8, 2010

The Road to Financial Freedom: Introducing a New Series at Family Balance Sheet

What does financial freedom look like to you?

When I envision financial freedom, I imagine being debt-free, having a well-funded emergency savings account, consistently funding our retirement savings, and being able to write a generous contribution to a non-profit. It also means a leaking roof won’t send us spiraling and an open weekend on the calendar turns into a road trip to the beach. It also means that retirement will be spent traveling, volunteering and exploring a new career. This is what financial freedom looks like to me. And I see it in our future…eventually.

Your idea of financial freedom probably looks different and that’s okay. We all have different circumstances. You might be a family of 4 with small children or maybe you are an empty-nest couple contemplating retirement in the next few years. Maybe you are single and climbing the corporate ladder or you are a double income, no kids couple debating your future family.

Whatever your circumstances, would you like to achieve financial freedom? The road to financial freedom might not be smooth. It could be downright bumpy or blazed with boulders as obstacles. We might have to get out of our comfort zone, and learn a whole new language of financial jargon.

In this new series, I want to explore the following topics that families and individuals face as they plan their financial future:

  • Financial literacy
  • Financial Organization
  • What does financial freedom look like to you? Creating a plan for your future.
  • Budget Planning/Spending Plan
  • Emergency funds
  • Replacement funds
  • Debt reduction strategies
  • Cash flow
  • Retirement planning
  • Estate planning
  • College savings planning
  • Fun Funds

Every path to financial freedom will be different and at the end of each post in the series I will give you some insight into our path pertaining to the post topic.

Disclaimer: I am NOT a professional financial planner. I am on the same path to financial freedom that you are on, although my circumstances will be different. I want to open up the line of communication to inspire you, learn from you and brainstorm with you, so hopefully we will all become financially FREE.

There is no set schedule for this series, but my goal is to have one post pertaining to this series every other week. I hope you will follow along.

Thanks for reading FamilyBalanceSheet.

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  1. Great post.. I think all of us are basically looking for the same thing you are: The ability to live our lives as we choose to, not governed or limited by finances.

    Although I make what is considered a high income, I too struggle with finding the "freedom" to do what I like ( like making charcuterie and pickles ) instead of what pays well ( IT Project Management ).

    I'm looking forward to this series and will volunteer in advance to serve as a guinea pig if you need one.


  2. I love it! I recently finished paying off my large credit card debt and my focus is turning to ideas around financial freedom and what that means to me.

  3. I have been reading some of the articles on your website this morning and I have to say that I am really enjoying them. There is a lot of good information here. I will be coming back soon for some more reading.

  4. Financial planning I guess is the best defense to financial struggles. As we envision a financial freedom, we must have set a definite plan and a passion of hard work towards achieving this goal.

  5. I think this is a great idea. So many of us write about getting our financial house in order - which is needed - but we should also focus on our goals after that point!


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