What is financial freedom? | goWave by RHB
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What is financial freedom?

Some people mistakenly think that as long as they have enough money to spend, they are financially free. However, that is not entirely true. Financial freedom means you have enough living expenses to support your life if something unforeseen happens to you.

How to have financial freedom?

You should clearly define your financial goals. The question that you should ask yourself is, what kind of life do you want to live before you retire? How much money do you need for the future? At what age will you retire? These questions will help you determine how much time you have left to plan your finances.

Setting clear and appropriate goals leads to a more realistic achievement of goals in the future. To achieve this, you need to plan your spending, starting with managing your income and expenses. Cut down on unnecessary expenses and ensure you keep at least 30% of your salary as savings.

How to get financial freedom as soon as possible?

This depends on the efforts of each individual, but we encourage you to start investing first because it will generate higher returns in the future, thus leading to more savings. Having financial freedom doesn’t depend on your status in the community, if you are disciplined, you might achieve it sooner than everyone else!

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