There is 3 types of freedom: time, financial and location freedom. They are very powerful and could change your life.
What does being truly free mean to you? Since the start of the covid pandemic, we hear a lot about freedom and how politics are taking away our rights and freedom.
What if your choices were the only barrier to your freedom? What if you could be wherever you want, when you want, doing what really matters to you? It’s called location, time and financial freedom.
Let’s take a closer look at these 3 types of freedom concepts, shall we?
Time freedom is answering YES to the question “Can I do “xxx” today?”
It means you are free to schedule your daily tasks as you please and are able to choose what your day will look like, everyday!
Someone is offering to go for a hike and spend the day in the wild? YES
You get the opportunity to meet with a new group of like-minded digital nomads at 1pm? YES
Sunny forecast for the day and want to spend the day at the beach with the kids? YES
Time is the most precious thing. You can’t create more time, you can only make the most of the 24 hours you are given everyday.
Having time freedom will allow you to build the life you want for you and your family. It will give you the ability to spend your time however you like it, with who you want, doing what matters the most to you!
Financial freedom means you have enough passive income not to worry about how you are going to pay for your credit card balance at the end of the month. It is being free from having a job to pay for your living expenses.
Being financially free is not easy and requires some upfront work and compromise but when you reach it, you will be truly free.
We consider financial freedom as a journey that starts with financial security then financial independence and lastly financial freedom. Read more about how you can climb your way to financial freedom.
Location freedom means that you can be anywhere you want. It could be because you can work remotely, or because you have a skills set that can be used or is required internationally or that you don’t need to work at all thanks to strong passive income streams.
For us, it meant selling our house so we could travel and not have home-based expenses to cover at the same time. It also meant leaving our jobs and reinventing ourselves, looking for investment opportunities and planning our budget and expenses in a different way.
Location freedom is usually linked to time and financial freedom because even if we are lucky to live in an era where travelling is the easiest ever, there are still some limits to it (especially if you have a family to bring with you!)
Step by step is the key
Our goal is to reach time, financial and location freedom but we know it can be a long journey.
As of February 2022, location freedom is the first of the three types of freedom we’ve reached.
As I am writing this, we are in Mexico for 5 month. We made a lot of compromises, changed our thinking and created new habits. I won’t lie, there are some days where we miss our previous life. But all these changes gave us the freedom to enjoy amazing adventures, meet new people and discover a new culture on a daily basis!
We are not yet financially free, we still have to manage our budget closely. We still have to work, attend appointments and meetings but we are on our way to reach time and financial freedom too.
Now that you know the main 3 types of freedom, you’ll have to decide if you want one or all of them and what you are willing to change and which compromise you are ready to do to reach them. There is work ahead but it is worth it! Are you ready? Let us know in the comment what you think your biggest challenge would be!