Roadmap to Financial Freedom [3]

Part Three of the article..

Source: New Sunday Times, May 3, 2009
Author: Yap Ming Hui, Managing Director of Whitman Independent Advisors Sdn Bhd

A roadmap to financial freedom frees you from money-related worries so that you can enjoy the other important things in your life. Thus a roadmap to financial freedom helps you to live a balanced life. You have the confidence that your personal finances are in order because you have managed to define how much money is enough for you and you know you will eventually have enough.

You can then focus on the important things that I call non-financial wealth, like your physical wealth, your spiritual wealth, your family wealth, your mental wealth and social wealth. Without the confidence that comes from knowing that your personal finances are in order and on track, there is always a sense of guilt when you spend time on activities that don’t contribute directly to your financial well-being.

For example, you want to spend more time on community service, so you squeeze time from your hectic schedule for this. However, while performing your community service, you may feel a sense of disquiet that there is some outstanding matter about your personal finances that you have not dealt with. Then you may doubt that you are doing the right thing at the right time.

Thus, if you are not sure that your personal finances are in order, you will not be able to focus on non-financial wealth. Usually, you only enjoy this free feeling when you have actually achieved your financial freedom with millions in the bank, as most of my multi-millionaire clients have testified. However, you don’t have to wait until then to have this free feeling. By acting on your optimum roadmap to financial freedom, you can enjoy the same free feeling.