While financial freedom may mean different things, it generally means having enough savings, financial investments, and accessible cash to afford the lifestyle desired.

Having debt negatively impacts your financial freedom as a portion of your earnings goes towards servicing the debt. So, one of the first things you do to attain financial freedom is pay off your debt.

A budget shows the inflow and outflow of money for a person, business, or organization. It shows the health of one’s finances and it can help you plan.

A financial goal should include a written plan of what you want to achieve, how and when you want to achieve it. It basically states how you expect to make and spend your money over a period.

Attaining financial freedom depends more on how you manage your money than how much you make. The most important money management tip is to spend less than you earn and save and invest the rest.

Investing is the act of allocating resources, usually capital (money), with the expectation of generating an income, profit, or gains over time.

When it comes to wealth building, both saving and investing are important. Saving involves setting aside money ( typically in a savings account) for future you. An example is saving for a vacation. Investing, on the other hand, is putting funds into assets with the expectation of growth over time. Examples include stocks, bonds, and real estate.

Low interest rates discourage savings and make it difficult to reach savings goals quickly. However, there are ways to earn a high interest rate on savings account and beat inflation. This article shows some of the ways.

This blog post explains what CDs are, how they differ from traditional savings accounts, what types of CDs are available, and how to compare and choose the best CD rates. It also gives tips on creating a CD ladder, keeping track of CDs, and avoiding early withdrawal penalties.