Topic: What is your biggest obstacle to achieving financial freedom ? - page 2. (Read 4194 times)

Quote from: Joshapat on April 14, 2023, 10:13:42 AM

To achieve financial freedom is certainly not an easy thing, especially since the cost of living continues to increase due to many factors such as inflation and unforeseen needs. To achieve financial freedom, what I do is spread money to many types of investments, including cryptocurrencies.

Diversifying your investments is a smart strategy for achieving financial freedom, as it can help to spread risk and increase potential returns. Cryptocurrencies can be a part of a diversified investment portfolio, as they have the potential for high returns but also come with risks such as market volatility and regulatory uncertainty.

It's good to diversify our investment for financial freedom but the issue is how do we source for the funds to invest? With the growing high rate of inflation couple with high cost of living makes life difficult for workers in many countries earmarking some funds out of their monthly salary for investing in cryptocurrency is now unrealistic I think this is one of the major problem associated with achieving financial freedom for many people, I can't deprive myself a good living in sake of saving part of my salary which wasn't enough to cater for my family cost of living, however if the inflation goes down such that I have enough cast to spend then savings will be my best option.

Fear of taking risk is the main obstacle in achieving financial freedom and along with that if you are not organised and consistent about your finances you can be financially independent.
Finances requires alot of planning and checking with passage of time and those who are careful about that go a way forward .

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Quote from: Joshapat on April 14, 2023, 10:13:42 AM

To achieve financial freedom is certainly not an easy thing, especially since the cost of living continues to increase due to many factors such as inflation and unforeseen needs. To achieve financial freedom, what I do is spread money to many types of investments, including cryptocurrencies.

Diversifying your investments is a smart strategy for achieving financial freedom, as it can help to spread risk and increase potential returns. Cryptocurrencies can be a part of a diversified investment portfolio, as they have the potential for high returns but also come with risks such as market volatility and regulatory uncertainty.

It's good to diversify our investment for financial freedom but the issue is how do we source for the funds to invest? With the growing high rate of inflation couple with high cost of living makes life difficult for workers in many countries earmarking some funds out of their monthly salary for investing in cryptocurrency is now unrealistic I think this is one of the major problem associated with achieving financial freedom for many people, I can't deprive myself a good living in sake of saving part of my salary which wasn't enough to cater for my family cost of living, however if the inflation goes down such that I have enough cast to spend then savings will be my best option.

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Quote from: Sir Legend on April 28, 2023, 09:32:27 AM

The temptation to spend money nowadays is very easy, when we leave the house the temptation to shop or buy is very strong, malls are made even better and more attractive with very beautiful sellers, automotive or apartment marketing is very creative because they use beautiful women which makes it difficult for men to refuse, the temptation that often makes our finances mess up.

Well I can't deny this one. this is what most people are the biggest obstacle to. i.e. they even spend money on things they didn't plan for before. because the strong temptation of various products or anything today always makes us interested (has high attractiveness). And some people find it hard to avoid it. So often our financial planning becomes irregular. And to overcome that I think it's about a strong commitment that we have to instill in ourselves. having clear goals to achieve might help us stay focused and not be tempted by other things we encounter along the way.

Indeed, we should concentrate on our goal. Buying anything you want right now and achieving financial freedom in the near future are two very different things, things things that are mutually exclusive, I would say. Expensive things that are proposed to you by some "beautiful sellers" shouldn't be a temptation for you at all. All your expenses should revolve around your main goal - achieving your financial freedom. Without this set of mind you will hardly achieve it.

So true. But avoiding the temptations that come to us is sometimes quite difficult to avoid. But yeah, building commitment and focusing on goals can strengthen us to remain unobtrusive and on the right track, namely to get to the financial freedom that we have planned. I hope all of us here who are struggling to get to financial freedom can stay strong not to be tempted to spend money outside of our financial plans.

I hope so too, but this is one of the reasons why no one can achieve financial freedom: either they are impulsive buyers or, like me, they have a low income, which no matter how hard we try, is still not enough. Even if we limit our spending, we are still caught short by our income. I hope soon that I can get a high-salary job or run a successful business, but for now, what I really want is to pay my debts so that I can ease my burden.

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Quote from: Uruhara on May 15, 2023, 07:53:08 AM

That's where our patience is tested. But I've also been in the same position. where I feel impatient to make progress in my life. included in investing in crypto. But this haste actually made me careless. that's where we need more mature self-control. But as you get more experience, things like making impulsive decisions can start to decrease and in the end you can avoid them. And in essence it turns out that sometimes our personal emotions have become a big obstacle to financial freedom. Greed and impatience are two dominant emotions in our emotions that can influence our decisions. it is important to control both.

In addition to controlling emotions, you need consistency in order to achieve the goal according to the intended plan. And you also need to know what you will do when you reach your goal. I see people who cannot stop, it would seem that they have a lot of money, but they become hostages of their position, when they must be constantly on site and control their business, otherwise everything goes downhill.

At some point, you need to decide that you will have enough of what you have achieved and you will no longer work when you can devote all your free time to your family and hobbies. I have always associated financial independence with the complete freedom of my actions, I strive for this and I definitely would not want to work all my life.

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Quote from: BVeyron on May 15, 2023, 07:41:32 AM

~
I think that freedom is not related to income (at least if there are no loans): with the introduction of digital banking projects, money become the way to control people (depriving people of freedom, instead of granting freedom). Crypto can't be considered an uncontrolled money system yet: not because of the fact that all the cryptocurrencies have teams of devs, which act as centralisers, but mostly due to the fact that most transactions can't be performed without BTC to fiat transfer. So nowadays freedom is more about the state of mind, financial potential can't bring freedom...

But we are talking about financial freedom here. You can have a lot of money and still be dependent, that's, of course, true, but regardless of your state of mind you can't be financially independent if you have very low income or no no money at all. People who discuss obstacles to achieving financial freedom, they already have the right state of mind, and yet it's hard sometimes for them to find ways of being independent financially.

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Quote from: Oilacris on May 06, 2023, 04:52:10 PM

Quote from: Marcellin9 on December 21, 2022, 09:12:11 PM

So true. But avoiding the temptations that come to us is sometimes quite difficult to avoid. But yeah, building commitment and focusing on goals can strengthen us to remain unobtrusive and on the right track, namely to get to the financial freedom that we have planned. I hope all of us here who are struggling to get to financial freedom can stay strong not to be tempted to spend money outside of our financial plans.

When it comes to temptations then there's lots, every corner and some situation in real life engagement which you could really face on which if you are emotionally unstable then you would really be definitely be making up some impulsive actions or reactions which is something that a very common mistake in life. Just like on my real experience when dealing with crypto investment
on which i do admit that im really that impatient, i do almost lost everything but i do keep on trying.

I do put up into my mind that i should really have the patience but on the time i do get bored and i do want to see some progress, i do immediately made out some impulsive decisions.
Like cutting losses, or early sell out which these things turns out to be that negative which it causes really for me to slow down on getting that financial freedom
due to lots of errors and mistakes because of bad decisions which i do really do my best on learning but it keeps on failing on doing so.

That's where our patience is tested. But I've also been in the same position. where I feel impatient to make progress in my life. included in investing in crypto. But this haste actually made me careless. that's where we need more mature self-control. But as you get more experience, things like making impulsive decisions can start to decrease and in the end you can avoid them. And in essence it turns out that sometimes our personal emotions have become a big obstacle to financial freedom. Greed and impatience are two dominant emotions in our emotions that can influence our decisions. it is important to control both.

BVeyron

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Regardless where we live, money is our top priority in order to survive and thrive. Having enough money to fall back on means we are entitled to more choice and possibilities. Like it or not, we are chasing or being forced to chase money in most phases of our life. Financial freedom has been most people's ultimate goal for decades, if not for centuries. To achieve this goal, we will encounter endless challenges. Each of us has a unique life situation so what is your biggest obstacle to achieving it ? I know we can make a long list of problems but there must be one or two primary reasons that really hold you back. This is where we should focus and I would like to hear your story. Thanks.

I think that freedom is not related to income (at least if there are no loans): with the introduction of digital banking projects, money become the way to control people (depriving people of freedom, instead of granting freedom). Crypto can't be considered an uncontrolled money system yet: not because of the fact that all the cryptocurrencies have teams of devs, which act as centralisers, but mostly due to the fact that most transactions can't be performed without BTC to fiat transfer. So nowadays freedom is more about the state of mind, financial potential can't bring freedom...

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Quote from: Joshapat on April 14, 2023, 10:13:42 AM

To achieve financial freedom is certainly not an easy thing, especially since the cost of living continues to increase due to many factors such as inflation and unforeseen needs. To achieve financial freedom, what I do is spread money to many types of investments, including cryptocurrencies.

Diversifying your investments is a smart strategy for achieving financial freedom, as it can help to spread risk and increase potential returns. Cryptocurrencies can be a part of a diversified investment portfolio, as they have the potential for high returns but also come with risks such as market volatility and regulatory uncertainty.

I guess before using this venue as token for your investment either use it as diversion or main medium for your trades, you need to understand both the benefits and the risk, yes it's true that if luck permits and your timing is good, the chance of making a good amount of money out from your crypto investment might be huge.

There are many success stories from different kind of investors and traders who earn a lot of money using crypto as their main assets for their trades.

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Quote from: Joshapat on April 14, 2023, 10:13:42 AM

To achieve financial freedom is certainly not an easy thing, especially since the cost of living continues to increase due to many factors such as inflation and unforeseen needs. To achieve financial freedom, what I do is spread money to many types of investments, including cryptocurrencies.

Diversifying your investments is a smart strategy for achieving financial freedom, as it can help to spread risk and increase potential returns. Cryptocurrencies can be a part of a diversified investment portfolio, as they have the potential for high returns but also come with risks such as market volatility and regulatory uncertainty.

the risk is very proportional to the possibility that will be obtained, in my opinion it is very worth it.
and to achieve financial freedom is not something that can be obtained easily and quickly, but it takes time, strategies and steps to achieve this, everything must be done early and enjoy the results later.
all is still very much possible, and if choosing to invest in Crypto isn't a bad thing, it is very much possible.

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Quote from: Joshapat on April 14, 2023, 10:13:42 AM

To achieve financial freedom is certainly not an easy thing, especially since the cost of living continues to increase due to many factors such as inflation and unforeseen needs. To achieve financial freedom, what I do is spread money to many types of investments, including cryptocurrencies.

Diversifying your investments is a smart strategy for achieving financial freedom, as it can help to spread risk and increase potential returns. Cryptocurrencies can be a part of a diversified investment portfolio, as they have the potential for high returns but also come with risks such as market volatility and regulatory uncertainty.

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Quote from: Fredomago on May 06, 2023, 01:01:01 PM

~ Indeed, we should concentrate on our goal. Buying anything you want right now and achieving financial freedom in the near future are two very different things, things things that are mutually exclusive, I would say. Expensive things that are proposed to you by some "beautiful sellers" shouldn't be a temptation for you at all. All your expenses should revolve around your main goal - achieving your financial freedom. Without this set of mind you will hardly achieve it.

You should have that limit when dealing with your expenses, if you are planning to have a better life in your future investing and saving while you are still young and you are still capable is the right timing for you, don't be bothered by those tempting things which you can buy as a like and not a need, it will reflect on you after some years of avoiding and trying to save some portions of your salaries to attain success in terms of financially established.

Spoiling yourself with unnecessary buys is never a good thing, but if you have such a big goal as achieving your financial freedom, it's double worse for you to spend money that way.

~

So true. But avoiding the temptations that come to us is sometimes quite difficult to avoid. But yeah, building commitment and focusing on goals can strengthen us to remain unobtrusive and on the right track, namely to get to the financial freedom that we have planned. I hope all of us here who are struggling to get to financial freedom can stay strong not to be tempted to spend money outside of our financial plans.

I hope for that too. I think this community here is helping people. It has helped me in a lot of ways, and I hope many others have read important advises here.

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the fact that being financially independent, takes a lot than what you think, so many thinking that if they own 2 million dollars they'd be financially independent, but the truth is, now just some measly amount. if you still don't own house that money quite literally gonna be all spent for housing, and then you need car, good enough that it's gonna sustain you for decades and there are other basic needs to fulfill. the only way for real financial independent is through having consistent income despite not working in other words passive income but honestly, building one is already really hard, also I don't believe we could get that much income from just investing unless we have millions dollar invested.
moreover the fact that the technology keeps getting updated, just add the difficulty of being financial independent since the price of these technology seem to always increase in every iteration, surely it will make us a lot consumtive.

Kelward

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Ironically my biggest obstacle to achieving financial freedom is finance. Imaging having a race car that is built for speed in your garage and you want to go for a drive. But there is no fuel in it's tank. That means that with all it's capacity, it can not move. The car is my business plan and the fuel is finance. So without finance, all beautiful business plan can not manifest.

I have years of experience in my line of business and I know exactly what I need to do grow my business, to the next level, but finance is my biggest challenge. Banks will ask for outrageous collateral, which I don't have. Friends have their own problems and can't really help. So yes finance is my biggest obstacle.

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Quote from: Sir Legend on April 28, 2023, 09:32:27 AM

The temptation to spend money nowadays is very easy, when we leave the house the temptation to shop or buy is very strong, malls are made even better and more attractive with very beautiful sellers, automotive or apartment marketing is very creative because they use beautiful women which makes it difficult for men to refuse, the temptation that often makes our finances mess up.

Well I can't deny this one. this is what most people are the biggest obstacle to. i.e. they even spend money on things they didn't plan for before. because the strong temptation of various products or anything today always makes us interested (has high attractiveness). And some people find it hard to avoid it. So often our financial planning becomes irregular. And to overcome that I think it's about a strong commitment that we have to instill in ourselves. having clear goals to achieve might help us stay focused and not be tempted by other things we encounter along the way.

Indeed, we should concentrate on our goal. Buying anything you want right now and achieving financial freedom in the near future are two very different things, things things that are mutually exclusive, I would say. Expensive things that are proposed to you by some "beautiful sellers" shouldn't be a temptation for you at all. All your expenses should revolve around your main goal - achieving your financial freedom. Without this set of mind you will hardly achieve it.

So true. But avoiding the temptations that come to us is sometimes quite difficult to avoid. But yeah, building commitment and focusing on goals can strengthen us to remain unobtrusive and on the right track, namely to get to the financial freedom that we have planned. I hope all of us here who are struggling to get to financial freedom can stay strong not to be tempted to spend money outside of our financial plans.

When it comes to temptations then there's lots, every corner and some situation in real life engagement which you could really face on which if you are emotionally unstable then you would really be definitely be making up some impulsive actions or reactions which is something that a very common mistake in life. Just like on my real experience when dealing with crypto investment
on which i do admit that im really that impatient, i do almost lost everything but i do keep on trying.

I do put up into my mind that i should really have the patience but on the time i do get bored and i do want to see some progress, i do immediately made out some impulsive decisions.
Like cutting losses, or early sell out which these things turns out to be that negative which it causes really for me to slow down on getting that financial freedom
due to lots of errors and mistakes because of bad decisions which i do really do my best on learning but it keeps on failing on doing so.

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Quote from: Sir Legend on April 28, 2023, 09:32:27 AM

The temptation to spend money nowadays is very easy, when we leave the house the temptation to shop or buy is very strong, malls are made even better and more attractive with very beautiful sellers, automotive or apartment marketing is very creative because they use beautiful women which makes it difficult for men to refuse, the temptation that often makes our finances mess up.

Well I can't deny this one. this is what most people are the biggest obstacle to. i.e. they even spend money on things they didn't plan for before. because the strong temptation of various products or anything today always makes us interested (has high attractiveness). And some people find it hard to avoid it. So often our financial planning becomes irregular. And to overcome that I think it's about a strong commitment that we have to instill in ourselves. having clear goals to achieve might help us stay focused and not be tempted by other things we encounter along the way.

Indeed, we should concentrate on our goal. Buying anything you want right now and achieving financial freedom in the near future are two very different things, things things that are mutually exclusive, I would say. Expensive things that are proposed to you by some "beautiful sellers" shouldn't be a temptation for you at all. All your expenses should revolve around your main goal - achieving your financial freedom. Without this set of mind you will hardly achieve it.

So true. But avoiding the temptations that come to us is sometimes quite difficult to avoid. But yeah, building commitment and focusing on goals can strengthen us to remain unobtrusive and on the right track, namely to get to the financial freedom that we have planned. I hope all of us here who are struggling to get to financial freedom can stay strong not to be tempted to spend money outside of our financial plans.

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Quote from: Sir Legend on April 28, 2023, 09:32:27 AM

The temptation to spend money nowadays is very easy, when we leave the house the temptation to shop or buy is very strong, malls are made even better and more attractive with very beautiful sellers, automotive or apartment marketing is very creative because they use beautiful women which makes it difficult for men to refuse, the temptation that often makes our finances mess up.

Well I can't deny this one. this is what most people are the biggest obstacle to. i.e. they even spend money on things they didn't plan for before. because the strong temptation of various products or anything today always makes us interested (has high attractiveness). And some people find it hard to avoid it. So often our financial planning becomes irregular. And to overcome that I think it's about a strong commitment that we have to instill in ourselves. having clear goals to achieve might help us stay focused and not be tempted by other things we encounter along the way.

Indeed, we should concentrate on our goal. Buying anything you want right now and achieving financial freedom in the near future are two very different things, things things that are mutually exclusive, I would say. Expensive things that are proposed to you by some "beautiful sellers" shouldn't be a temptation for you at all. All your expenses should revolve around your main goal - achieving your financial freedom. Without this set of mind you will hardly achieve it.

You should have that limit when dealing with your expenses, if you are planning to have a better life in your future investing and saving while you are still young and you are still capable is the right timing for you, don't be bothered by those tempting things which you can buy as a like and not a need, it will reflect on you after some years of avoiding and trying to save some portions of your salaries to attain success in terms of financially established.

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