It seems that the much elusive phase in many people lives is the financial freedom phase. When I first heard of this expression “financial freedom”, I was wondering if it means someone no longer depends on money for his or her entire life… just like a monk who is finally free from the worldly attachment.
Only upon further probing that I found out later the definition of financial freedom have different meaning to different people. Not everyone defines financial freedom the same way. Some of the popular answers are:
- being able to buy anything.
- completely debt free, no mortgage, credit card or car payments.
- no bills to pay.
- earning a decent salary.
For me, I would like to define financial freedom as having enough passive income generated from various sources exceeding my total expenses.
To get to this “financial freedom” phase of my life, I would need a plan and a software that keep track of my financial progress and nudge me towards my goal.Why a software? Well, computer is good at two things, remembering and crunching numbers.That is why I’m developing Moneylah.com web application.
Also at the same time learning more about the subject of financial literacy via discussion in a community, a subject that the school system never teach me (I bet most of us too) about anything.
