What is financial freedom, how to attain it? Here are top ways to make this dream come true

We the public in general aka Aam Aadmi have experienced an unexpected and expensive bill, whether it's a medical emergency, house, households and car repair, etc. It can press the panic button in your mind, especially at a time when you might be struggling to pay your other bills namely credit card, insurance premium etc.

But if we were to fully obtain financial freedom that bill would be less worrisome and we can easily move on from it. Sounds nice, right?

But, what does this financial freedom really mean?

Financial freedom is not something that will happen overnight, but it is extremely possible. Even if you currently think it won’t happen, it definitely can. Technically speaking, financial freedom is when you have enough money to do whatever you want.
 
Elaborating upon the ways to attain financial freedom Rahul Jain – Head of Personal Wealth Advisory, Edelweiss Wealth Management told Zee Business online in a written statement, "Depending on your wants this is easily possible. Several people do appear to dream of the day when they can retire from work and start doing anything they desire. They imagine about a period when they don’t have any bills to pay for, a tremendous amount of profit in the bank, and manage to travel the entire world, eating in the very best places, residing in the fanciest resorts, in addition to seeing the world’s incredibly stunning sites. Who wouldn’t wish to be free of money worries? There’s an old saying that money can’t buy happiness. Possibly so, but irrespective of how true that is, it’s equally evident that having money can get rid of lots of problems as well as make life a whole lot easier." 

See link below for budget cues:

#Budget2019 | जानिए रेलिगेयर सिक्योरिटीज के आशु मदान से बजट पर कौन से स्टाॅक में मिल सकता है अच्छा रिटर्न।#BudgetKiBaat #TeraBudgetMeraVote pic.twitter.com/42Xb7WPCnj

— Zee Business (@ZeeBusiness) January 22, 2019

Jain of Edelweiss further added, "I believe that the secret to getting financially ahead in life is to plan for all your major expenditure. It might sound a little-to-much-planning-to-do on your end, but trust me it will get you well ahead in life. Therefore, I will list out some of the major areas where proper planning will help you move towards financial freedom."

Emergency
 
The first step to any smart financial plan is to rigorously anticipate for a financial emergency and structure a plan around it. Here you can account for any major or minor emergency - from car or house repair to a medical expense or a surprise bill. Do so will always make more sense, than taking a last minute loan or putting it on a credit card where you end up paying a lot more interest on it.

See link below for budget cues:

#Budget2019 | जानिए बजट पर HDFC सिक्योरिटीज के वी.के. शर्मा की राय#BudgetKiBaat #TeraBudgetMeraVote pic.twitter.com/izVcVQYbbs

— Zee Business (@ZeeBusiness) January 22, 2019

Vacations and special occasions

Festivities and occasions such as birthdays and anniversaries sneak up every year. Also, you might want to take a trip to your favourite/dream destination to break the monotony of your daily life. Hence, by saving up you can plan out your holidays as you want and purchase the gifts you want for those special moments, without being ties down by your monetary constraints.

Health Needs

People tend to forget or underestimate how much it costs to stay healthy. The cost of health insurance is rising, and unfortunately, there isn’t much you can do. Make sure you budget annually and expect increased costs. Again, investing in your health and saving today means you will save yourself from having to spend extra money when a health issue arises.

"I am certain if you take care of these aspects you will move towards a more fulfilling life. Hence choose smartly," concluded Rahul Jain of Edelweiss Wealth Management.