You need to challenge your existing money mindset and expand the horizons of what you believe you can achieve, regardless of your income level. That’s why the first leg on the path to climbing your Money Mountain and achieving financial freedom is a psychological one. This myth is often perpetuated via alarmist news headlines, government studies, and political talking points.īut believing the lie that financial freedom and success are out of reach for all but the wealthy is self-defeating - it virtually guarantees that you’ll never try to achieve either one. I’m sure you’ve probably heard the common refrain that the median 2017 American income of $31,786 per person is barely enough on which to get by. Modern society is full of misinformation regarding the lifestyle it is possible to lead on a given income level. But for the sake of those new here, let’s take a quick glance back at these two essential elements before surveying the path that yet lies ahead. Long-time readers of this blog have likely already completed these first two legs on their respective journeys. Much like food and shelter constitute the most basic and essential of human needs, there are two foundational stepping stones of personal finance which must be trodden before exploring its more advanced aspects. ![]() ![]() In a similar way, some legs on the path to financial freedom must come before others. More refined needs such as self-esteem and self-actualization are lower priorities, and are therefore found several levels higher. Basic human needs such as food and shelter take precedence over all others and form the base of this pyramid. Most of us are familiar with Maslow’s hierarchy of needs, illustrated in pyramid form. Each of these legs you successfully traverse on this path puts you that much closer to reaching the summit of your personal Money Mountain. I like to think of those which are closely related as combining to form individual “legs” - to use a hiking term - of the overall journey. There are many individual steps on the path to financial freedom. Are you ready to take the next leg further up and further in? Yet others won’t be satisfied until they no longer need to trade their time for money at a job they despise.īut no matter what your personal definition of financial freedom, the path leading to it remains the same. Some simply desire more breathing room in their monthly budget. ![]() That term invariably means different things to different people. Those words serve as both the tagline of this site and the epitome of financial freedom.
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