What is your biggest obstacle to achieving financial freedom ? - page 9.

Theones

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Quote from: Ahli38 on March 22, 2023, 05:40:58 AM

Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

Correct. Having debt is one of the obstacles to achieving financial freedom. so this problem should be solved at the earliest. because having debt means you haven't started from zero but you are starting from minus.

so the main step to achieving financial freedom is of course we have to return from minus to point zero and only then start. zero point means we have no loans or debts. so that whatever money we make, it will be easier to manage.

Another barrier to achieving financial freedom is a weak mentality. because to achieve financial freedom certainly requires a strong mental readiness. sometimes even we have to dare to get out of the safe zone. like trying to earn more income. sometimes we also have to dare to hold ourselves tighter to save money. and channeling more of our money into long-term investments. and to do so requires mental readiness.

Another obstacle is lack of confidence (pessimism). someone who is pessimistic will certainly find it difficult to develop. then remove this attitude and replace it with an optimistic attitude and grow better self-confidence.

I second - that the first step is to be debt free. If that debt is from a friend try to payoff with thanks otherwise that person will lose money and friend both.
Some people are too bad with money matters - they are ready to harm everyone and anyone for no reason

Swordsoffreedom

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Quote from: Marcellin9 on March 24, 2023, 02:56:09 AM

Quote from: Swordsoffreedom on March 23, 2023, 11:47:36 PM

Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

There is nothing wrong with your friend's advice, but also consider why you are in debt, no one wants to borrow, but sometimes there is no other choice, and the last solution is to borrow.

I used to borrow when the business went bankrupt, otherwise, my wife and children would not have a house, in this case, I had no other choice. Borrowing is a terrible thing, but there is always a way out if you have a plan and an effort. Now, I have also paid off all my debt, and the economy has been more stable since then.

Apart from anything we are discussing, I admire your effort and contribution to your family. As a family man, I know how it feels to be consistently supporting a whole family. Borrowing from any channel is not encouraged today especially when the economic downturn prevails in most countries. Now it is so good for you to be debt-free as this is a new beginning for your financial status. Congratulations.

Indeed, borrowing money is never recommended or called good, even if you borrow from your loved ones without paying interest. But life is not easy, there will be times when we are reluctant to borrow to survive, as long as we use it purposefully and work hard to pay it back as soon as possible, and never let repeat things.
My business went bankrupt and I had to take out a loan, and since then, I have been planning for my future and the necessary savings. It can be said that it has given me a valuable life lesson and made me more mature in life.

super bako

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different conditions but one goal, determination and enthusiasm, discipline, focus most people can't be consistent about that strength. if that power is strong within us I think it can guarantee you can achieve the things you want. when people are in a down position there will be extraordinary ideas in our minds. money doesn't have to be a large amount to start us developing, management will be arranged by ourselves

kak uli

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

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.

yes, the main reason that can hinder someone from achieving financial freedom is money or capital. I think almost everyone will answer that money is the main foundation for achieving financial freedom. without money we can't do anything, everyone will need it without exception.

Hamza2424

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currently, I can't even think of financial freedom as recently I get to know that people who are involved in p2p trading are getting targeted by law enforcement institutes, particularly FBR and NAB officials. They are not targeting the people who are involved in the Crypto business for any legal purpose they are targeting them for their personal interests, and blackmailing them for money. Some of the innocent and unaware people are directly getting scammed by this scenario, Do you really think the circumstances where are Government officials Blackmailing civilians, there a term of financial freedom can even exist?

Financial Freedom is a myth even in the crypto industry this term doesn't justify itself but things are better in this market as compared to the Traditional market.

Twentyonepaylots

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Quote from: Mario Yamasaki on March 23, 2023, 10:18:44 PM

My biggest obstacle to achieving financial freedom is that I'm still young and easily tempted to be extravagant, if I'm alone of course I can save money, but when I'm with friends of course I'm wasteful, for example every week doing sports or cycling hobbies out of town and at night I have to stay at the hotel and make a lot of expenses big, and I plan to reduce or eliminate posts that make money wasteful so I can switch to this type of investment.

I can relate since I had just my first job and I can say that financial planning isn't my strong suit but I'm really working on it. But to be fair, it is really hard for me to manage since my salary is not that high but majority of it would be spent on bills and daily needs, I would be left with little money. I tend to give myself some reward most of the time so I sometimes treat myself with something, which makes me relentlessly buying something. But, I believe I can have my small step soon regarding financial freedom since I am trying to limit myself and save something. But, all in all, it is really hard.

soramon

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For me there are few obstacle. First is job. Im a teacher my salary is really small. I want to switch career but i need to study hard. Second, im kinda helping my family to pay some bills. I still live on my parents home. Third, i have girlfriend that i want to marry as soon as possible. Maybe after i get a better job i can solve other 2 problems.

fauzan Ichsan

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Quote from: Marcellin9 on March 24, 2023, 02:56:09 AM

Quote from: Swordsoffreedom on March 23, 2023, 11:47:36 PM

Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

There is nothing wrong with your friend's advice, but also consider why you are in debt, no one wants to borrow, but sometimes there is no other choice, and the last solution is to borrow.

I used to borrow when the business went bankrupt, otherwise, my wife and children would not have a house, in this case, I had no other choice. Borrowing is a terrible thing, but there is always a way out if you have a plan and an effort. Now, I have also paid off all my debt, and the economy has been more stable since then.

Apart from anything we are discussing, I admire your effort and contribution to your family. As a family man, I know how it feels to be consistently supporting a whole family. Borrowing from any channel is not encouraged today especially when the economic downturn prevails in most countries. Now it is so good for you to be debt-free as this is a new beginning for your financial status. Congratulations.

Debt free does indeed make our minds calmer, so that at work it will also be maximized, because we don't have dependents to repay each month. therefore to let go of the debt it really takes a struggle until finally he can be released it is an achievement, and I'm sure of course with great effort to pay it off. debt for business may still be tolerable because the money will produce

Marcellin9

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Quote from: Swordsoffreedom on March 23, 2023, 11:47:36 PM

Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

There is nothing wrong with your friend's advice, but also consider why you are in debt, no one wants to borrow, but sometimes there is no other choice, and the last solution is to borrow.

I used to borrow when the business went bankrupt, otherwise, my wife and children would not have a house, in this case, I had no other choice. Borrowing is a terrible thing, but there is always a way out if you have a plan and an effort. Now, I have also paid off all my debt, and the economy has been more stable since then.

Apart from anything we are discussing, I admire your effort and contribution to your family. As a family man, I know how it feels to be consistently supporting a whole family. Borrowing from any channel is not encouraged today especially when the economic downturn prevails in most countries. Now it is so good for you to be debt-free as this is a new beginning for your financial status. Congratulations.

Swordsoffreedom

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Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

There is nothing wrong with your friend's advice, but also consider why you are in debt, no one wants to borrow, but sometimes there is no other choice, and the last solution is to borrow.

I used to borrow when the business went bankrupt, otherwise, my wife and children would not have a house, in this case, I had no other choice. Borrowing is a terrible thing, but there is always a way out if you have a plan and an effort. Now, I have also paid off all my debt, and the economy has been more stable since then.

Mario Yamasaki

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My biggest obstacle to achieving financial freedom is that I'm still young and easily tempted to be extravagant, if I'm alone of course I can save money, but when I'm with friends of course I'm wasteful, for example every week doing sports or cycling hobbies out of town and at night I have to stay at the hotel and make a lot of expenses big, and I plan to reduce or eliminate posts that make money wasteful so I can switch to this type of investment.

CageMabok

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Quote from: Fakhrulenclix on March 23, 2023, 10:10:09 AM

The biggest obstacle that keeps us trapped in financial freedom is that we often buy or spend things we want when we don't need those things.
we are not able to control our passions to buy a product that we do not need it.
I think to achieve financial freedom is to control spending efficiently and not have debt. and try to have several sources of income.

Apart from having to have several sources of income and not having debts, you also have to be able to control your appetite for luxury goods that may not be time to buy. Because buying too many luxury items that are not the time to be needed will also hinder financial freedom for some people. So only lust control is the problem here and if those who have such passions can get rid of it, of course financial freedom will be easier to obtain, especially if they have a job as a source of income.

Fakhrulenclix

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The biggest obstacle that keeps us trapped in financial freedom is that we often buy or spend things we want when we don't need those things.
we are not able to control our passions to buy a product that we do not need it.
I think to achieve financial freedom is to control spending efficiently and not have debt. and try to have several sources of income.

ancafe

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Quote from: Marcellin9 on March 22, 2023, 03:49:35 AM

Quote from: ancafe on March 22, 2023, 03:33:27 AM

Quote from: Kadal Ijo on March 21, 2023, 11:23:26 PM

I think the biggest factor that hindered me from achieving financial freedom was trusting people too easily, I once made a business, namely a mini restaurant and everything was managed by someone, at first I handled it alone and the result was positive or profit, but after I put my trust in someone the business made a loss and even debts to several vendors have not been paid.

The big mistake you made by entrusting custody of the mini restaurant to other people to be fully managed and this method is very inappropriate. Even though you can control it even though someone else is managing it and you cannot give full custody to someone else for the business you are running.

In running a business, you cannot fully rely on other people as managers, because they will be responsible only for what they are doing, but they never want to know where you are using the capital from which the business you are developing. That is the reason entrusting business to other people is not right, because basically every risk of business failure that you run is not borne by them but you alone.

Indeed. I have a close friend who owns a few restaurants. He has never settled in any one of the restaurants and instead, he constantly visits and supervises each of them. Why ? Because he does not fully trust any managers even they are doing a great job. He told me that in the line of food business, people work long hours and they simply do their job for salaries and nobody really cares about the overall operation and success. His role of supervising managers and staff is an effective way to push most of them to be responsible. This also applies to most other businesses, people can not be fully trusted and authorized unless some are really solid and trustworthy.

That is far more true what your friends do, even though our business is managed by other people but we still have to watch it properly. Your friend understands that success cannot be obtained if you don't work hard and the role of workers is needed to help accelerate achieving this success, because we will never be successful if we only walk alone. Any business cannot be completely handed over to other people, because we need to control, manage and always monitor the progress of the business being run, because we never know how real workers are if we are not in the business.

firesurfer

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Quote from: Dragonfund on March 20, 2023, 11:46:08 AM

Quote from: firesurfer on March 20, 2023, 11:36:09 AM

I worry that I have many wishes. I have one and want more. As such, I will never be satisfied with the present. That makes me feel greedy. Time is passing and what will I have to do to make myself appreciate what I have?
Although I have read a lot, the knowledge usually does not stay with me for long.

Do not have a feeling that you are greedy, it is natural when a man is surrounded with problems with no alternative solution to have everything around him, so it does not mean you are greedy because your situation is different. The real meaning of greediness is when you have it and yet you are not satisfy with what you have at hand, that is the main difference between you and other people that are not satisfied. Researve your knowledge and be patient, trust the process and you will fly out with flying colour at the end of the day because they always deserved it.

Thank you for your encouragement. Maybe I need to be more humble than I have and get along with people more. Only then do I feel the poverty of others and the wealth of those who are richer than myself? hmm. It's like motivating me to appreciate the present and try harder. Buddhism teaches the same thing. As long as you every day open your eyes and see yourself alive means having a day to be happy and work.

pergola

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The biggest problem with achieving financial freedom is the method of making money and the amount of regular consumption. If consumption costs rise, it will lead to budget shortfalls and premature bankruptcy.
When you start earning money, it's also time to organize your expenses accordingly. I made financial mistakes and the consequences have not been better. Relationships need money to feed and that's the biggest weakness. I'm changing the way I maintain my relationships.

Betwrong

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Quote from: arwin100 on March 21, 2023, 06:40:46 AM

~ Aside from money the main problem for other people to achieve financial freedom is their responsibility to their family. There are so many breadwinners out there got scared to leave their 9 - 5 job because they don't want their family to get hungry if they cannot get a more decent job which can give them higher pay cuts or try to risk on business side.

Yes, quitting your regular job is always risky, but sometimes you have to take such risks if you want to improve your life. It depends a lot on what your regular job is. If it's something you enjoy and get a good payment, I wouldn't advise quitting it for something unknown, and potentially unstable, but better paid. But if you hate your job, and they don't pay you that much - quit, and don't worry, you'll figure it out how to feed your family. That's my advice. But use your head.

Inwestour

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Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

Sometimes a loan can be an additional driving force that can help us develop our business, but this applies to cases when everything is well calculated and before taking this loan we have a clear plan for how it will be paid.

But in general, I agree debts are very bad, and often they will prevent you from achieving your goals, because debt will be oppressive and instead of helping you increase your capital, it will take your money, because in most cases debt/credit implies that you must pay back more than you borrowed.

xSkylarx

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Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

Just imagine if all of your debt was paid off how would you spend your money right now? For sure, all of your budget for food and other things is now increased, and you'll say that your salary is now enough. If this would happen to me, this is really the start of financial freedom, as I do have spare money right now to save and invest for capital to start a business. But again, this will take time, as my debt needs to be paid off over the next few years, and I don't have the money to pay it all off or start an investment (except for holding bitcoin).

Ahli38

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Quote from: Jatiluhung on March 22, 2023, 03:57:02 AM

I just realized this from a friend who told me that at least if someone wants to have a happy life and wants to get financial freedom is by never having a loan. and if you have debt, the first step towards financial freedom is to pay off all the debts you have. because often the biggest obstacle to having financial freedom is having debt. because someone who has debt will have a little difficulty managing finances. so first we must avoid all debts

Correct. Having debt is one of the obstacles to achieving financial freedom. so this problem should be solved at the earliest. because having debt means you haven't started from zero but you are starting from minus.

so the main step to achieving financial freedom is of course we have to return from minus to point zero and only then start. zero point means we have no loans or debts. so that whatever money we make, it will be easier to manage.

Another barrier to achieving financial freedom is a weak mentality. because to achieve financial freedom certainly requires a strong mental readiness. sometimes even we have to dare to get out of the safe zone. like trying to earn more income. sometimes we also have to dare to hold ourselves tighter to save money. and channeling more of our money into long-term investments. and to do so requires mental readiness.

Another obstacle is lack of confidence (pessimism). someone who is pessimistic will certainly find it difficult to develop. then remove this attitude and replace it with an optimistic attitude and grow better self-confidence.

Topic: What is your biggest obstacle to achieving financial freedom ? - page 9. (Read 4194 times)