We all know the feeling—the panic that sets into your stomach when you see the bill for an unexpected car repair. How are we going to pay for that? But what if a car repair was just an inconvenience? Instead of worrying, you pay the bill without thinking twice. A week later you’ve forgotten that it even happened! That’s how little it affects your financial situation. It’s not an emergency. It’s barely a hiccup!

The next time a pandemic or recession hits and you miss a monthly paycheck, instead of panic and relying on the government, you’ve got a safety net. You can focus on the other inconveniences of the crisis, not where your family’s next meal is going to come from.

Do you feel that sense of relief? That’s what financial freedom feels like.

Paying for a car repair without stress is just a small part of the picture. It’s more than just being able to afford emergencies. It’s knowing you don’t have to worry about retirement because you’ve worked with your financial advisor to invest consistently for decades. It’s the freedom to quit your J-O-B to do something you love, even if it means getting paid less.

Financial freedom means that you get to make life decisions without being overly stressed about the financial impact because you are prepared. You control your finances instead of being controlled by them. The path to financial freedom isn’t a get-rich-quick strategy. And financial freedom doesn’t mean that you’re “free” of the responsibility of handling your money well. Quite the opposite. Having complete control over your finances is the fruit of hard work, sacrifice and time. And all of that effort is worth it! Ready to learn how to build a life of financial independence for you and your family? Start by defining what financial freedom looks like for you.

What Does Financial Freedom Mean to You?

Financial freedom has to be personal. Dream big and get specific about your goal.What does financial freedom look like for you? Maybe it looks something like this:

• Freedom to choose a career you love without worrying about money
• Freedom to take an international trip every year without it straining your budget
• Freedom to pay cash for a new ski boat
• Freedom to respond to the needs of others with outrageous generosity
• Freedom to retire a whole decade early

When you have financial freedom, you have options. You don’t have to wonder if your bank account can handle replacing your hot water heater or buying groceries for a single mom who just lost her job. That may sound too good to be true, but you can do this! Here’s how to begin your own journey to financial freedom!

Once you start learning how to manage money, you may realize you’ve made some mistakes with your finances in the past. That’s okay! But if you want to experience financial freedom, you have to clean up the mess before you can start building wealth. That means if you have debt like credit cards, student loans or car loans, it’s time to get serious about kicking it to the curb.

Why? Because while you owe money, your paychecks have someone else’s name on them. If you want to reach your goal, you need your full income at your disposal, not bits and pieces that are left over after paying credit card bills and student loan payments. Paying off your debt helps you lay a foundation to build wealth that will last. Make sure you have $1,000 saved before you start tackling your debt. You don’t want an unexpected expense to derail your progress!

Most people feel like they got a raise when they start budgeting, so that’s good news for you. Throw all of that extra cash at your smallest debt until it’s gone. Then keep the snowball rolling! Paying off debt is hard work, but there’s nothing like the feeling of actually keeping the money you bring in every month! Once you’re debt-free, stay there. For good. Having debt undermines your ability to build wealth and puts your financial plan at risk. It’s simple. Steer clear of debt!