Personal Finance | When some dream of financial freedom, they think it’s to do with owning luxury yachts and classic cars and frequently going on holiday. However, this is not true financial freedom if it is all funded by credit, writes Maya Fisher-French
You won’t attain financial freedom immediately after debt rehab, but I’d say after entering this, it can be done in around eight years.When some dream of financial freedom, they think it’s to do with owning luxury yachts and classic cars and frequently going on holiday. However, this is not true financial freedom if it is all funded by credit.
You are able to afford the kind of life that you and your family desire because you have enough savings, investments and cash on hand. Also, with no debts, money in the bank and investments for the future, you’re financially prepared for whatever life throws at you. Briggs says: “It all depends on how much debt you have and what you get paid as a salary. We’ve seen people come out of debt within two years or five years?“Debt rehabilitation is typically a five-year plan to turn yourself around. You won’t attain financial freedom immediately after debt rehab, but I’d say after entering this, it can be done in around eight years.
“Very often, the best opportunities come out of the most challenging times. The trick to a successful financial life is to be able to assess, adapt and action, depending on the circumstances one faces,” explains Garner.Financial freedom is a long-term journey that demands discipline, dedication and sound financial choices.?. Set financial goals: Identify your short- and long-term financial goals. This will keep you on track and enthused to actually execute them.
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