What is Financial Freedom? Is it not a state in life we all long for or expect, where money or the medium needed to transact on a daily basis to achieve a certain quality of life, is available to us on demand and more importantly we have control over that medium in our lives based on circumstance, need and desire. A lot of words to express a simple desire we all have which is – TO LIVE LIFE ON OUR TERMS, right! 

The commodity we know as money is a medium that enables the exchange of products & services between the two parties but the key point is that it’s only an instrument of paper where a central authority (the government) acts as the guarantor for the medium of the transaction. True intrinsic/financial value comes from being financially aware, competent and how one applies that awareness to their daily life in order to create income generating life skills/assets that enable the process of achieving financial freedom.

financial planning

In my experience it comes down to three simple actions – BEING AWARE (ignorance is not an excuse), BEING DISCIPLINED (no deviation from the plan & goals) and BEING CONSISTENT (giving in to the “nice to have’s” is a no-no). The actions are of course to be applied for the duration it takes for you to achieve your goals and what may seem to be pain (giving up on things) at the outset, is the investment one makes towards their financial freedom.

Financial Freedom becomes a myth owing to the fact that a majority of us who are not able to achieve it or get frustrated with the journey, land up blaming it on all the wrong excuses for it not becoming a reality. 

Financial Freedom in some ways has also become only a # topic for the millennial generation which in my opinion is due to the lack of a holistic understanding of the process of money management & discipline i.e. awareness of all financial & investment options available, role of and how the capital markets work, role of and how the banking system works and how do basic macro economic changes impacts one’s daily life. This leads to more paranoia and confusion becoming the norm and that becomes the trending sentiment owing to social media. 

Financial Freedom is and should be every person’s life imperative – A BASIC NECESSITY. Money needs to work for us not the other way around and the first step towards that is to ensure that one has the right mindset when it comes to thinking about money, to truly understand what it is and how it works. In my view, financial literacy and education should be an integral part of any education system across the world, right from grade school in order to prepare the next generation to be financially competent. In conclusion, money is the only true tangible nexus connecting all of us, irrespective of who we are, where we are located, what we purse as a career option or want to achieve in our lives. Given this ubiquity, part of the responsibility lies with each one of us to do what is needed to become financially aware in order to enable that goal of FINANCIAL FREEDOM.

About The Author

Sunjay is a senior investment banking professional with 12 years of management, investment banking and capital markets operations experience with Goldman Sachs. He started his career in 2006 as part of initial 200 employees hired at the firm in India and has been part of the growth story from that 200 to 3500 over 10 years transitioning from Analyst to Vice President/Executive Director. 3 years of his career involved international assignments in New York, London and most recently Poland managing migrations, transitions and business unit setups. He was a Co-Founder at an Ed-Tech startup between January and August of 2018, impacting positive change by being a catalyst to enhancing the entrepreneurial ecosystem in India. Currently, he is the Head of Partnerships for IFM (Institute of Financial Markets), UK

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