Earlier this week, I gave you a little peek into what my next book is going to be about and told you that I was going to be asking for your help during the writing process.
THANK YOU to everyone who left comments or emailed in with your answers to my first two questions. Your insight was incredible helpful as I shape this book.
Thank you for sharing so openly about your struggles, difficulties, setbacks, and fears. My hope is to address as many of these as possible in the book.
Today, I have a quick question for you: What comes to your mind when you hear the words “financial freedom”? What does that mean to you? What does that look like for you?
Share your answers in the comments or email them to crystal @ moneysavingmom.com. There are no right or wrong answers. I’m especially looking for one-sentence answers to use in a section of the book.
Note: I will be using some of your answers in the book, so if you don’t feel comfortable having your comment or email published in the book, please note that when you submit it.
Nora at Simple, Easy, Frugal says
Financial freedom to me really comes down to more flexibility in my daily life in regards to time. Not needing to work a full-time job, a generously funded retirement, significant paying down of my mortgage etc. 🙂
Nichole says
Financial freedom does not equal being debt free. It means making your money work harder through wise investments so we can play harder! Contentment is also key- no need to have the biggest, flashiest, newest item now!
shannon says
Financial freedom is knowing that my greatest challenge of the month is choosing what charity to bless.
Kaitlin Mullins says
Financial freedom to me means knowing that my family will be taken care of and not constantly worrying about bills and debt.
Olivia Mullins says
Being out of debt and bringing in enough income to not worry about my my children’s college education, our retirement, etc. Being able to give money to charities without having to check myself to make sure I’m not giving away grocery money.
Anna says
Financial Freedom means having an emergency savings, paid off home mortgage, and financial flexibility to bless others generously when needs arise.
John Green says
For me, Financial freedom is being able to pay the bills without checking my balance, being able to gain as much or more money from my savings as my job, and knowing that I can cover any unexpected costs without scrambling.
Tiffany says
Financial freedom is the ability to make dreams a reality because you have the finances available to do so. It means giving without hesitation because you can. It means setting up a future of blessings for your children because you can. And it means reading the menu from left to right and leaving an unimaginable top for your server, because you can!
Tiffany says
***tip not top
Olivia Mullins says
yes!
Kelly says
The words “financial freedom” make me cringe. That term is so often used in ‘seminars’ and by people who bought into a “great oppurtunity” and are now desperately trying to recover their initial investment at least. I live below my means, invest 30% of my income, teach my children to focus on experiences, the moment, and not material possessions. Life isn’t perfect, but we’ve never had debt. It’s one less thing. We are secure, but I’ll never say “financially free” because i feel people will think I’m trying to sell them something.
Sharee Harris says
Financial freedom is to be able to make decisions based upon what I feel is best, not by what is in my bank account.
Ann says
Being able to be generous and not worry about the impact of your generosity on your family’s finances.
Rachael Speer says
To me, financial freedom is sitting in my home & looking across the room at my incredible husband & gorgeous, healthy daughter. To not have money or finances cross my mind in that moment because for that amount of time, money is meaningless. Realizing that money cannot purchase that wonderful feeling – in my book, is financial freedom.
Amy says
Financial freedom for me is being able to tithe joyfully because I know first and foremost all we have is the Lords and He provides for us, then it’s having enough to pay for good food, housing and all other needs, and last it’s living within our means and not spending all we make so that we are able to replace things as needed and give to others as needed.
Godliness with contentment is great gain. 1Timothy 6:6-10
Debbie says
Financial Freedom to me is not being a slave to debt – or to wants – but to be able to live and give without worry about the future.
simone says
Financial freedom to me is being content with whatever I have at each moment in my life. Trusting that God is the one who provides for me each day, that He is the one who blesses me with exactly what I need to survive and to help provide for my family. Financial freedom is the freedom from the bondage of money.
Fanny @ Living Richly on a Budget says
Living without worry or fear about money and how much I have. Peace of mind.
Jillian says
For me, financial freedom means less stress. Money and debt can be quite a source of conflict in our family, so by tackling the debt and managing what we have brings peace and calm!
Meegan says
Financial freedom is being able to say yes to God when He moves because debt no longer chains our family to disobedience.
Marie E. says
For me financial freedom means having the ability to meet my recurring monthly living expenses (food, utilities, gas, insurance, clothing, etc.) spending only the interest from my investments. Having no mortgage or consumer debt and being able to tithe more and help the less fortunate.
Alissa says
I personally feel that you can be held captive by money at any and all levels of income. It depends on your heart.
My perspective of financial freedom is recognition that God provides ALL of our needs. He cares for the sparrows…he will care for me. That gives me freedom to know I can give freely to others because God uses my finances (truly His finances) to care for others and he will continue to take care of me in the future.
This is a battle I fight and haven’t truly come to a resolution yet. Do we be “responsible” by planning for retirement and saving our money, or do we give to others who have no hope for today, let alone their future?
Stephanie K says
Financial Freedom to me means having no credit card or student loan debt, a fully funded emergency fund, retirement account contribution maxed out and putting a little each month into my kids college fund. After all that, being able to enjoy going on a nice week long vacation every year, paying cash for it and living on a budget that works.
Pam says
For our family financial freedom is having enough for what we need with a little left over for what we want.
Jamie says
Financial freedom to me means no debt with the ability to use your money the way you need or want to.
Ashley says
I wish we could afford to buy more fruits and vegetables.
Diane says
Ashley – this makes me so sad. I hope that you will be able to get what you need. Many of us want to be mortgage and car loan free and there are people who just want life’s basic needs. My thoughts are with you.
Susan in St. Louis says
I know I have financial freedom when I am investing very little time or energy thinking about money.
Jennifer says
Financial freedom for me is not owing anyone anything, living within our means, and being able to give to our church and community. It’s also means having enough money saved for those unexpected expenses, like your car breaking down. And having enough money saved for retirement as well.
Awanna says
Financial Freedom means for me ,not to have to ask for money every time from your hubby if you are a stay at home mom , I means for the little things like grocery shopping, kids needs …
Elisa says
Financial freedom is being debt free, and keeping my financial obligations low enough that I’m not stressed out all the time.
Shauna McBain says
Financial Freedom means to me that we own our own home and have no debt.
Leah Spencer says
Financial Freedom for my family is being completely debt free and the funds to chase our dreams. This was us 3 years ago, and we pursued my husband’s Master Degree. Unfortunately, we had to take on a bit of debt. So we will be spending the next two years paying it off and building our savings back up. And then we will be back to chasing a few more dreams, like home ownership.
Hollaina says
Financial Freedom would mean not having to worry about which bills to pay this month (the ones being the latest or risk getting something shut off or repo’d getting first priority), where food is going to come from, where gas to get to work will come from, etc. It would mean actually having a savings account, and being able to pay off debt.
Natalie says
Financial freedom for me is being able to stay home with my two kids and not worrying about the flat tire I had earlier this week or having my husbands car in the shop last week.
Paula says
Financial Freedom is being content in all circumstances. We have been through many tough years. When I am not content I become a slave to worry over our finances. I am not free. Looking back over the years I have only had true financial freedom when I am content with our current financial status and I am grateful every day for what we do have. Philippians 4:11-13, 1 Timothy 6:6-8
AmazonsRock says
I agree…Financial Freedom is about contentment in all things, discerning between wants and needs, and trusting that God will provide for every need.
Financial Freedom still includes dreams and goals, and the satisfaction and joy is felt in each step towards attaining them.
Financial Freedom means confidence and faith replace anxiety and doubt.
Financial Freedom allows you to mentor others as they journey to Financial Freedom.
Monika says
To me financial freedom means not being continuously held back by lack of finances…freedom to say yes to going out for ice cream with friends, freedom to give when God prods your heart, freedom to know that the bills for the month are paid and your water isn’t going to be turned off, freedom to take a family vacation once every year or two, freedom to not have to take out a loan if your van breaks down, freedom to unreservedly serve God without being so closely bound to creditors and companies and physical needs that rule our lives in a sense.
shannon says
Financial Freedom is being debt free and no one tells you where/how you have to spend your money.
Audra says
Financial freedom to me is solely about security, not material things. I’d love to be able to own our house outright and concentrate on retirement and college. I wouldn’t change where we live or how we do things if I suddenly came into a lot of money, I’d just secure the future. And then play out Secret Santa type anonymous blessings to people that need it. I would so enjoy doing that!
Sarah S. says
Financial freedom means being able to be generous with our income whenever we see a need or hear of a situation where money can fix a problem without our own family finances being compromised.
Christie says
Romans 13:8 “Owe no man anything but love.”
Abby @ Mother on a Mission says
For me, financial freedom is being free from the money worries my family faced when I was growing up. My husband and I are both public school teachers, so we don’t expect to be rich, but we hope to afford everything we need and some of what we want. We hope to remain debt free and take the occasional family vacation. For us, financial freedom just means freedom from the stress of an empty bank account and burdensome debt.
Amber L. says
Financial Freedom is not worrying about how I’m going to pay the bills each month or how I’m going to put food on the table for my family. It’s being able to provide for my family without stressing over whether or not I’m going to be able to make ends meet from month to month.
Mel says
No debt, some savings, and at times willing to be “not cool” to achieve those two things.
Meg says
To me, financial freedom is all about options. With a strong financial foundation including solid savings and no debt, we have the chance to use our money as we wish instead of just as we must. Our money isn’t beholden to anyone. What delightful possibility!
Jamie says
Today, I have a quick question for you: What comes to your mind when you hear the words “financial freedom”? What does that mean to you? What does that look like for you?
It means having the freedom to give generously whenever God leads us to bless someone. It’s having enough margin in our budget that unpredictable expenses don’t throw us into a tailspin. A car problem stays just a car problem…not a money problem too.
Carol D. says
Financial freedom is the ‘freedom’ to say “no” to things that get you into debt (wants versus needs, extravagant expenditures, living above your means, etc.).
Kirbee N. says
Financial freedom is the ability to chose where, how and when we use our money because it isn’t already spent in debt.
Leah says
Financial Freedom is being free to pursue your dreams and what you feel is God’s calling on your life without being worried about day-to-day provision.
Alicia says
Financial freedom to me means having enough money for bills, food, gas, and a little extra without having to worry. It also means having some money in an emergency fund.
Sandy M. says
We are financially free. We paid cash for our home, and our SUV purchased new and we have no credit card debt or any other debt. We retired in our early 50’s and have enough money saved to live for the rest of our lives doing most anything we want to do.
Financial freedom is all of that plus being able to wake up healthy every morning and plan whatever we want to do for the day. No bosses to be accountable to! It is a wonderful, low stress way to live!
Vivian says
I will have financial freedom when I can buy whatever I need and want and give to others whenever I please. Financial freedom eliminates mental, physical, emotional strain, constraints and fears.
sarah says
First thing that came to mind was to take a family vacation! We’ve never taken one (in 12 years of marriage and 4 kids) and it’s because of finances. And i mean not even a weekend getaway. I would love to have the freedom to plan one.
Tiffany Thomas says
When you put God and His counsel first instead of your own desires. A scripture says, “But before ye seek for riches, seek ye for the kingdom of God. And after ye have obtained a hope in Christ ye shall obtain riches, if ye seek them; and ye will seek them for the intent to do good—to clothe the naked, and to feed the hungry, and to liberate the captive, and administer relief to the sick and the afflicted.”
Another scripture says, “Bring ye all the tithes into the storehouse, that there may be meat in mine house, and prove me now herewith, saith the Lord of hosts, if I will not open you the windows of heaven, and pour you out a blessing, that there shall not be room enough to receive it.”
Rebecca says
For me financial freedom is (1) being able to pay cash for anything I need as I need it, (2) being able to pay cash for most of what I want, even if it means saving up a few months for it (knowing that wants are nice, but not necessary) and (3) having money to give to the needs of others.
Cris says
Agree with all this! It really bothers me to not be able to help others more and institutions I care for. For now I do what I can, it makes me happy to help others get deals on things they want/need and operation Christmas child is definitely on the list this year again (felt really bad about missing last year’s deadline, due to poor organization in my part).
Cris says
Financial freedom has meant lots of different things throughout my married life. Right now it would mean we were current on all of our bills. Unfortunately this has not been the case over the past 3 months or so. It’s going to take lots of work (already made $375 having a garage sale that all went to bills – and a $12 dinner out with a groupon- rewarding a hard working several days to get it together was important to us) but we will get there. Someday it will be no debt at all but the one phrase I came up with was: “Financial freedom doesn’t mean having all you want but knowing you can.”
This may sound bad to some but when you struggle for so many years it would be nice to be able to simply get something you want without having to feel guilty from time to time. Swagbucks and other rewards programs has allowed me to not completely feel like there’s no light at the end of the tunnel and get a few things that we need (or want) without money oop.
Cris says
Just to clarify I don’t meant having what you want in an extravagant way. And I failed to thank Crystal for her blog helping us so much – financially and personally. Things would have been much much worse without everything I learned here.
Mary Price says
Financial freedom means having our mortgage paid off and college paid for. I don’t worry about retirement, because I truly want to work for as long as I can, but not having mortgage debt, and not having to worry about college, would give our family financial freedom.
Dorothy Fisher says
Financial Freedom means to us, no mortgage or credit card debt.
Sarah @ The Teacher's Wife says
To me, financial freedom means that you don’t have to live paycheck to paycheck and that you are as prepared as possible for the future {retirement, emergency funds, college funds, etc.}. Hope that helps! 🙂
Julie says
For me, “financial freedom” doesn’t necessarily mean having enough wealth that we don’t have to work. Rather, I look at financial freedom as being disentangled from debt. Although we “only” have school loans, a mortgage, and a car loan, all of which is considered acceptable debt by today’s terms, I feel in complete bondage to them. But to owe no man anything so that I have the freedom to decide when and where my money (actually, God’s money) goes, that would be incredibly freeing!
Julie Ross says
Financial freedom means I am in control of my money, and I tell it where to go each month.
Pat Cobb says
Financial freedom is being debt free, having an emergency fund, and the money to be generous.
Lea says
Having everything you need and a little of what you want and not having to worry about the tree in the front yard falling on the house! 🙂
Aubrey says
The ability to move where God is moving. To go where He is leading and touch lives without having to worry about being tangled with debt and weighed down by so many “priceless treasures” that we accumulate so easily.
Lisa says
Financial freedom means being able to with our money what we want to do with it without any worries of running out of it.
Margaret says
Honestly, to me it means being able to pay all the bills, have enough to save for emergencies, retirement, college, vacation, and home improvement goals, and have some left over for small luxuries (new clothes, eating out, music lessons for kids). Right now we pay all the bills, but the rest of the list isn’t really getting met. However, we have all the proper insurances, which adds quite a bit to those monthly bills, and that’s not something I’d rather give up in order to have the rest of the list. So the other option is to increase income, but with 3 small children, and one full-time working spouse and one part-time working spouse, that too seems kind of out of reach. It’s strange how I can feel very thankful (that we are healthy, safe, happy, and nourished) and very stressed (to not be able to do more than the monthly bills) at the same time. 🙁
Delorise says
Financial freedom to me is being debt free, Living below our means and having a 8 month emergency fund.
Sarah M says
Financial freedom, to me, means having plenty in savings for any big-ticket item, like a car or a vacation, to pay cash with, but also to pay for those situations in life that come up that could be really stressful, the unexpected large car repair, a kid needs braces this year, etc.
Leanne says
For our family, financial freedom meant being debt-free with money in the bank and saying “yes!” with confidence when we were selected to adopt an infant baby girl. We had 2 months from being chosen to the birth of our daughter. We had another two months until her adoption day. The expense was high but nothing we couldn’t cash-flow with the help of our emergency fund. Financial freedom means saying yes!!
Angel says
Financial Freedom – when you can honestly trust God is providing for your needs; realizing it’s up to you to 1. adjust your “wants” to His plan and 2. complete the work He has for you.
Erin says
This!
Kristina says
It means being the only child of my father’s who pays her own car note, mortgage, insurance, medical bills. It means enough stability to make/keep a budget and enough of real life to keep you on your toes. It means being able to have a savings account – even if you only contribute $5 a month to it. It means a little worry sometimes, but not so much that when a fellow human falls on hard times you don’t hesitate to offer whatever you have.
Jen says
To me, it means being debt free.
Laura says
Financial Freedom means deciding what I do with my money rather than my money deciding what I do
Jillbert says
Financial Freedom means owing money to no one. It means having enough set aside to feel secure.
karen lathan says
being able to sleep at night not worrying weather you can manage another day with out sinking.
Becki @Running with Team Hogan says
Financial freedom is not having to worry about having enough money for our needs (and even some wants). It means being able to live generously. It’s having a great emergency fund so emergencies are not financial stresses on top of the other stress emergencies cause.
Amber says
This!
Kimberly P. says
Dare I say it? Ok. I dare. The first association I have with the words “financial freedom” are very enthusiastic Dave Ramsey devotees. I know that he has a lot of insight…but I don’t believe there is a one-size-fits-all definition of what “financial freedom” means – or what it looks like, feels like or that there is one path to getting there. Some people will carry debt – some people won’t. Some people won’t have a credit card or a mortgage – and some people will. Freedom, whether financial or otherwise, includes the idea of choice.
Diane says
For me it means being debt free, having an emergency fund, building a nest egg, saving for college, some wiggle room for a few extras, paying a tithe, and giving above the tithe, not necessarily in that order. At the very core, it is being a good steward with what I have been given, and regardless of the situation, growing in my ability to be a good steward.
Amy says
I was thinking…impossible…
Amy says
But my 11 year old son says it is when you can spend your money the way you want to.
serpil richter says
To me, it means no more sleepless nights worrying about bills. I an okay with having bills, we all eventually have them. Whether it is utility bills or doctor bills or so many others. But I want to be able to match my income to cover them and still be okay to give my children a comfortable life.
Jenna says
Financial freedom is a place where you are not shackled by your debt and/or bills. It might not necessarily be completely debt free, but a place where if your A/C goes out in the middle of the summer, you can find a way to get it fixed without going into more debt. Or, if something catastrophic happens to a friend, or even someone you don’t know, you feel like you can help them out by buying them dinner or groceries, giving them some money, or helping in some other way while still being able to meet your own family’s needs. It’s not a set amount of money or even a percentage of your income that’s freed up, but being able to make things work out without causing undue stress to your finances/budget.
Kristy says
Financial freedom means no stress, no worries, no stomachaches or money migraines.
Lana says
It means being totally debt free and having the means to help others.
Sheila says
Financial freedom means your money is a slave to you , not the other way around!
Kristy says
love this one
Angel says
I agree with Kristy, good one.
Jo Ross says
Means not having to live from paycheck to paycheck.
sandysue15 says
financial freedom–all bills are paid, including tithing and some savings (kids’ college, 401K, emergencies) with a little left over for unexpected things, as there is always unexpected things that come up–medical bills, tires, home repairs, etc. All needs are met without losing sleep at night.
Alyssa Spring says
Peace – being able to give with freedom. Being able to sleep at night.
Jennifer says
To me financial freedom means staying out of debt and having an emergency fund. This gives you freedom by not having to worry about making payments and knowing that in an emergency you do not have the added worry of financial stress.
Sharon@DiscoverExploreLearn says
To me, financial freedom means that all of the bills are covered each month without stress or worry. It means that there is “extra” money for things like vacation, occasionally eating out, or other small indulgences (like going to a movie, or grabbing a coffee from a cafe).
As a single mom of 4, who is on an extremely tight budget, I know I haven’t yet reached “financial freedom,” but I’m hopeful that one day I will. 🙂
Michelle Morgan says
We were tied down and weighed down by a mass of debt for the first 8 years of our marriage and before as well. In April we became entirely debt free. No credit card debt, no student loans, no mortgage.
It is so freeing to know that the things we own are ours. We can save money and dream about the future knowing that there is nothing holding us back. We are more than willing to continue to live on a budget if it means that we are never enslaved by debt again.
Monica S says
This comment is very inspirational…. thx for sharing!
Michelle says
Financial freedom is being content to live within your means. Not trying to earn more money so we can have more things.
April Schroeder says
1- An opening of a space in my life as in there is no room or time for the stress and hassle of financial issues. Being free of that creates an internal peace that feels amazing.
2- I havent been able to allow myself this yet but, someday it will mean buying whatever I want at the grocery store!
Jacki says
Financial freedom means that our home is paid for and any other monthly expenses can be paid for by working a job a person actually enjoys instead of one that pays the bills but you hate. This includes enough money to actually take a family vacation, save for the future, pay for college and any other goal a person may have. It also means that you can go to the grocery store and eat what you like and is the healthiest instead of what is the cheapest.
We believe in giving to others. With that said, it is hard to see your family suffer because of their limited income or even ours. Financial freedom would allow us to help those in need.