Financial Freedom Is A Lifestyle | EP#164

Financial Freedom Is A Lifestyle | EP#164


Hey everyone Scott Cunningham aka @scottcbusiness and today we’re going to be talking about financial freedom and how
it is a lifestyle it’s a lifestyle choice and that sounds a little you know
it’s like ok it’s just a lifestyle anyone could just be financially free
for the most part it actually comes down to being a lifestyle choice it is not
you know based on circumstance and all and and all these different things I
definitely think you can have extreme circumstances that could prevent you but
I don’t think that it’s this special thing that exists for the most
successful people ever or that you know financial freedom is only achievable for
really really wealthy people or people who have some amazing success formula
because that’s just a calling to get you to buy their course or whatever right
financial freedom is a lifestyle because there’s people who are not financially
free who make hundreds of thousands of dollars because they can’t afford to
support their own lifestyle there’s people who make fifty thousand dollars a
year as people make thirty thousand dollars a year and can support their
lifestyle and have money in the bank after to save and when there’s people
who have less money in the bank to save because they’re spending all of it
living a very luxurious lifestyle so is it really your income cash flow and all
these different things no it’s the lifestyle you choose to live which could
also be a result of the circumstances that you’ve set for yourself right like
by no means am i condemning you for if you had a child too early in life to not
be able to as well support the child that is part of your lifestyle so it’s a
lot harder to be financially free if you are now supporting someone that you
couldn’t really afford to and you know that that’s generally how it goes I mean
the basic tenants for ensuring you are not
by definition in poverty is to complete your high school diploma
and don’t have a child before you’re married and and also get married and I
believe those were the three tenants that ensured that you would not be
impoverished if you get a job finish high school and don’t have a kid before
you get married or before like 30 maybe or like 25 I can’t remember the exact
age but it’s generally like get your life set up and ready to go where you
were very you know grounded in with your finances and with your your living
situation and all your all the rest of it before you really get into you know
bringing another life into this world and trying to take care of that life
like I said there’s circumstances where things happen and there’s chance and all
the rest of it that is completely out of people’s control I’m not condemning any
of that by by any means what I am talking about is for what is in your
control generally will dictate your financial situation right so me in order
to get to where I’ve gone I’ve made adjustments in many different places so
so originally when I had very little money and I’m in debt for a university
and I’m working I was just eating like really really cheap not that great food
and I was just powering through it and I was just like you know whatever put my
head down and work do what I need to do I also decided that based on the work
that I was pursuing I could sacrifice the luxury and leisure of having a car
and that amongst many other sacrifices I’ve made I’ve been willing I’ve been
able wailing and able and then able to position myself in for success and I’ve
gotten to the point where I’m more or less financially free in that I’m able
to do what I want with my time that everyone has a different definition of
financial freedom right I mean for some people it is $2,000 a month of passive
income and they’re basically financially free like you don’t need a whole lot
more than that maybe 3,000 but the point here being that once for for me it’s
more about can I pay my bills can I have some luxuries and Leisure’s and and and
then can I spend the majority of my time doing what I want to do for me that’s
what financial freedom is and that’s what I’m doing right now so I feel
financially free the point is though financial freedom is a lifestyle say I
have been driving a car and paying for a lease on a really expensive car because
I wanted to impress people with the car that I had in the Audion a– i would
have a hell of a lot less money so again it comes back to the lifestyle that I
want to live what are you willing to sacrifice what are you willing to to
give up how serious are you with your finances because most people don’t look
at their finances don’t look at what they’ve been spending they don’t do any
of this until their taxes come up but it usually goes to like their parents or
someone else and they still don’t really know what they’ve been spending on what
they’ve been doing every month I track my expenses how much I brought in I I
can see exactly where I would go broke or where this would happen because I
have all of my expenses tracked out and I know exactly what’s happening and then
I’m able to decide okay if I want to you know drink on the weekends with my
friends how much money is that going to cost can I still do that and be more or
less financially free to do all the other things that I still want to do can
I do this can I do this and I navigate based on that I’m not telling you that
you shouldn’t enjoy luxury leisure vacations whatever I’m telling you that
your financial freedom and your ability to do whatever you want is going to come
down to that so if you’re okay well see here this is my philosophy right you
don’t need to take a vacation from work if you enjoy the work but you might need
to take a vacation from work if you really hate it and you just need to get
away thus you save up all this money and from
that shitty job that you don’t like and then you go on the vacation to get away
but then it only lasts a week and you’re back doing the same thing that you don’t
like so how beneficial is it to take those vacations not very if all that
money went to you know getting yourself you know you know set up to do your
business or whatever thing you’re trying to do maybe set aside some money for
your sign hustle so that you can get it going or whatever might be to get out of
that that loop of you know hating your job and then spending all of your time
outside of your job to distract yourself from how much you actually hate the job
and then you don’t have any money this the point is that your financial
freedom and your lifestyle are intertwined not only are they you know
dependent but they’re intertwined they will work off of each other
that’s why I’ve only ever gone on vacation like really in my adult life
one time and I regretted it because I just look back on it saying I wish I had
that money to invest in something instead and I really don’t plan on ever
taking another vacation until I you know have so much capacity to be able to
write I really just don’t plan on taking any vacations I don’t plan on getting a
car and less autonomous vehicles are out and then I can Oberer the car because
I’m not buying into liabilities I’m only buying into assets but again it all
comes down to your lifestyle and I’m not telling you this is is like you know I’m
so experienced or I’m a financial adviser or where I know better
I’m just sharing the life that I live I know this is true because this is what
I’m doing and I know that it comes down to your lifestyle because anyone well
almost anyone again aside from extreme circumstance can
alter their lifestyle as needed to to be able to achieve this and I explained
this a little bit in my last video where it’s like okay you need a car for work
what stops you from moving closer to work and then selling your car nothing
you just don’t want to or you actually really like the car for some other
reason and that’s your excuse as to why you need it
90% of what people tell you they need is just something that they want and and
like to have I mean I don’t need a glass water bottle I just I prefer to have a
glass water bottle because it’s it’s better when you have plastic obviously
BPA etc but I don’t need that that is a want that I fulfilled because it’s part
of my value set that I think it’s good to not have BPA in my water etc etc it’s
the lifestyle that I’m choosing right like I I try to eat healthy and I know
that that’s more expensive generally but I’m okay with that because it’s a
long-term investment obviously your health is a long-term investment I’m not
losing money to do that right but if you buy a chocolate bar that is just lost
money right there’s no benefit you’re not investing in anything it is just
lost money so it all comes down to your lifestyle partially you know your values
in the things that you believe in that all has some effect as well as obviously
again extreme circumstance if you’re living on the street like I’m not saying
that it’s just based on your lifestyle of course but
for the average person it really does come down to the lifestyle that you’re
living and it’s not about oh you need to save this or you need to stop drinking
coffee or whatever it might be it’s more about what are you really spending on
and do you need to and is there a way to to do something better right like oh if
you don’t go on vacation this this year you put that money aside and that starts
making you passive income and in five years from doing that you’re able to you
know start making enough passive income to maybe work part time and and then
start pursuing the job that you want or whatever it might be and I’m not saying
it’s gonna take ten years but I’m just saying whatever like whatever situation
you’re in there’s a way to slowly alter your lifestyle to get to the point where
you are basically financially free or at least free to do the things that you
want to pursue and I think that is really really important and again you
tell me and tell me if this is anecdotal but it’s really gonna come down to if
you think the reason that you’re stuck in the lifestyle that you live is all
external then then there’s no way out of it if you blame it on everything but
yourself how can you take charge and how can you control that if you’ve given all
the responsibility to everything but yourself you can’t you can’t fix it and
you can’t and you’re not you’re not gonna deal with the blame and that’s
fine but you’re not gonna improve it either right so it’s do you want to fix
it and and what are you willing to sacrifice to do that because there’s no
way you’re going to get this without sacrifice absolutely no way you just got
to know what you’re willing to sacrifice and and and what do you need to get you
through not not necessarily need what what will help you what do you want that
will help you get through and and and what could you sacrifice and like you
know there’s obviously a balance right what do you want that will give you
enough motivation to get through while being able to sacrifice and cut things
in other areas so that you are able to to help get your financial situation
back on track again I am NOT a financial adviser the point here is that and again
I always say this I am NOT a raging success but I’m doing what I want to do
and I’m able to do that and there’s most people can’t say that and it breaks my
heart and that’s why I make videos because I want to show people that you
know even if you look at me and you don’t think this guy is a raging success
but I am able to do the things that I want every day what’s more important to
you I mean you might think that that money is more important but I can tell
you like giving up all these things seemed hard at first but now I just look
back and I say yeah like that it’s whatever like this is just the life I
live some people be like oh like do you not have a license or something why
don’t you drive if I say no I was an amazing driver I drove all the time I I
have my full license you know everything’s fine but I purposely make
these sacrifices because it’s better for my long-term my life my long-term
financial plan and strategy that I have that’s playing out let me know what you
guys think about this I know it might not rub the right way for a lot of
people who really like their cars and and all these fun luxuries that they
have and you know I need my my pet that I can barely afford and I need you know
this really expensive car and I need and I need an innate do you need if you’re
totally satisfied with your situation then it’s fine but if you’re not
then maybe you have to reevaluate what you really need and what you just want
let me know what you guys think in the comments below
if you saw this video and you waited and you watched all the way to the end make
sure to go and comment number one ham hash tag number one ham in the comments
below trying to create an identity for my
audience let me know what you guys think about that and yeah
always good to always good to jump on here and and rant a little bit let me
know you guys think about this in the comments below
I’m Scott Cunningham aka @scottcbusiness signing off Cheers

2 Comments

  1. Scott Cunningham says:

    Let me know what you think about this in the comments below and don’t forget to subscribe!

  2. dmac16 says:

    nice video, enjoyed it

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