What Does Financial Freedom Really Mean.. To You?
"Independence Day reminds us about the privilege and joy of being able to live life on our own terms. But freedom is not just a national milestone — it’s deeply personal. Financial freedom, in particular, is often misunderstood as simply “having enough money.” In reality, it’s about crafting a life where your choices, dreams, and values lead the way."
With Independence Day around the corner, you’ll hear “financial freedom” and “financial independence” everywhere — TV, newspapers, magazines, social media. The message? Build a pot big enough so you never work again. But is that the whole story?
Merriam‑Webster defines freedom as “the absence of necessity, coercion, or constraint in choice or action.” Money isn’t even mentioned!
I think most of you would agree that true freedom isn’t just about having more money — it’s about having more choices, the ability to live with intention and purpose.
As a Financial Life Planner, I don’t start with numbers. They matter, but they come later. First, I want to know the person — their stories, dreams, and the quiet aspirations they’ve tucked away.
Once those are clear, money becomes the means, not the master. The plan we co‑create is built to deliver that sense of freedom — starting now, not someday. Because, a good financial plan is one that integrates your life and money and helps you live fully today while preparing wisely for tomorrow.
I had this client who had the tendency to chase every "hot investment" idea that came his way or was in the news. He wanted to invest only in the "top performing funds." But whenever the markets turned volatile, (as they often do), he would panic.
When I dug deeper, I found that this behavior stemmed from his fear of not having "enough" and anxiety for his family's financial security, having grown up in a family with limited means and who had gone through some financial turmoil. Add the fear of being left behind, and you’ve got a perfect recipe for disaster.
We did some reflective exercises, behavioral coaching, and worked together to evaluate different scenarios and possibilities. Over the course of time, we managed to shift his focus from fear, anxiety and FOMO to the things that truly mattered, and the things that were in his control. He’s much calmer today, on track for early retirement, and ticking off items from a "real" bucket list.
“Your financial plan should be life‑shaped®, and not based solely around your numbers.”
The uncomfortable truth? We often equate success with appearances — wealth on display, shiny objects in hand. And no thanks to social media, we get sucked into an endless loop of earning, spending, and investing in that elusive search for happiness and fulfillment — based either on what we feel others will think about us, or the kind of impression and messaging we want to send out about our status and sometimes just to match the lifestyle of others around us. The Americans have a term for this: “keeping up with the Joneses”.
The sad part? We keep walking this path without direction or purpose. And by the time we realise that more money and shiny things don’t bring more happiness, life has already passed us by.
For everyone who is still reading this, my sincere request to all of you is to try the following simple thought experiment:
Imagine you’ve won a lottery that can fund you and your loved ones for the rest of your life. No EMIs, No Obligations, No “What If” fears.
After the initial euphoria fades and the champagne bubbles settle — paint a picture of the life you are living; what are the things/ activities you are doing? what is your plan for all the time you have ahead of you? how are you feeling?
That’s the heart of it!
True financial freedom is less about the numbers and more about alignment — choices, time, and energy matching your deepest values.
So this 15th August, as we raise the flag and sing with pride, remember to raise your own inner flag too — a reminder of the freedom you want for your own life. Protect it fiercely, live it daily, and let it guide every choice you make.
As I wrap, I’d like to leave you with lyrics from George Michael’s classic — a reminder that real freedom often starts within:
"I think there’s something you should know
I think it’s time I stopped the show
There’s something deep inside of me
There’s someone I forgot to be
Take back your picture in a frame
Don’t think that I’ll be back again
I just hope you understand
Sometimes the clothes do not make the man."
— George Michael, Freedom! ’90
This is an updated version of the original article which appeared on the Money and Meaning blog on 2nd Jan 2020. You can read it here: — https://www.kinderinstitute.com/what-does-financial-freedom-mean-to-you/
