{"id":11135,"date":"2019-05-16T14:06:59","date_gmt":"2019-05-16T08:06:59","guid":{"rendered":"https:\/\/bbf.digital\/new\/?p=11135"},"modified":"2019-05-16T14:33:17","modified_gmt":"2019-05-16T08:33:17","slug":"why-financial-freedom-is-a-key-for-gender-equality","status":"publish","type":"post","link":"https:\/\/bbf.digital\/new\/why-financial-freedom-is-a-key-for-gender-equality","title":{"rendered":"WHY FINANCIAL FREEDOM IS A KEY FOR GENDER EQUALITY"},"content":{"rendered":"

Financial freedom is a subjective concept. The term may hold different meanings to different people. To a teenager, it might mean freeing himself from his parents’ resources and using his own earned money for his expenses. To a young adult, it might mean finally landing a job after many unpaid internships. Moreover, to an adult, it might mean retiring with enough savings, or sensibly investing their money in cryptocurrency, as well as mining it and trading it with equipment like the dogeminer 2<\/a>, for example. <\/span><\/p>\n

By definition, being free financially means getting to a position in life where one can live the way they want to without being tied to any job or monetary restriction. This definition, however, collides with the concept of retirement in the 21st century that is widely accepted, taught and followed by millions of people around the world.<\/span><\/p>\n

FINANCIAL FREEDOM DESCRIBED IN STAGES<\/strong><\/span><\/p>\n

Instead of confining financial freedom in a point of time, the concept can be better understood if it is broken down in four stages.<\/span><\/p>\n

Stage 1: No Freedom<\/span><\/strong><\/span><\/p>\n

This is the point of life where an individual, regardless of age, finally lands on a job that ensures a steady payment so that they can pay bills in exchange for the time and work they put in.<\/span><\/p>\n

Stage 2: Temporary Freedom<\/span><\/strong><\/span><\/p>\n

To graduate to this level, the individual must learn to grow out of the lifestyle that makes them dependent on their sole income. They must learn to spend less money than what they earn and create a pool of savings that they can later use to invest on diversified investment portfolios to produce a regular stream of income or start a side-business that would create another stream of income. This will give them the freedom to feel comfortable switching jobs, starting a business or any other activity that is impossible to achieve without savings. This freedom, however, is temporary and will be gone when savings are depleted over time. One of these investment streams may be in the form of cryptocurrency that can help build up that portfolio, however, many do not know where to start so it would be best for them to check out how to identify opportunities to invest in Bitcoin<\/a> so they can keep funds coming in. <\/span><\/p>\n

Stage 3: Permanent Freedom<\/span><\/strong><\/span><\/p>\n

The individual reaches this stage when their non-employment income exceeds their total expenses so they no longer require a steady paycheck from his employer. This non-employment income can be a reliable side-business or a large investment portfolio providing a substantial amount of income. Anyone can take advantage of smart investments like stocks, gold, property, etc. that bring in ample returns to ensure that finance will not be a worry in the future. Today, as we see new forms of digital currencies coming into play, people might look to buy asic miners in australia<\/a> and in almost every part of the world, hoping to diversify their investment to include the new and (hopefully) thriving cryptocurrency industry as well. These can still be considered as labour but it is assumed that it is something that the individual finds fulfilling.<\/span><\/p>\n

Stage 4: Luxurious Freedom<\/span><\/strong><\/span><\/p>\n

In this last stage, the individual has enough passive income to spend freely. It is the point at which the person’s income exceeds their expenses by a comfortable margin allowing them to spend time doing the things they want to do regardless of the expenses that come with it. People in this stage will also have the spare money to invest in an exchange traded fund (ETF), for example. This will help the investor to get more of a return in the future. To learn more about the finances of investing in ETFs, it might be worth using an ETF savings plan calculator (or ETF Sparplan Rechner<\/a> as they would say in Germany). This should help people to work out how they could invest. <\/p>\n

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FINANCIAL FREEDOM AND GENDER EQUALITY<\/strong><\/span><\/p>\n

Financial freedom plays a very important role in the road to achieving gender equality. In fact, they go hand in hand. That is why financial freedom is crucial for women all around the world. It is through involving themselves in important financial decisions so that women can take charge of their lives and make life-changing decisions.<\/span><\/p>\n

The mastery of money is the key to gender equality. To women, this is much more than money. This is about the status, privilege, power, and freedom that women get when they understand, manage, control, earn, and spend the way they want to. That is why it is vital for women to influence their relationship with money and involve themselves in important decisions that take place in their lives.<\/span><\/p>\n

If they do not show interest in participating in financial decision-making then they will not be able to participate in decisions that affect their lives, their work, their community, and their world. Everything will be decided for them by others and the road to equality will never be found.<\/span><\/p>\n

FORMULAE FOR FINANCIAL FREEDOM<\/strong><\/span><\/p>\n

Now that it is clear how financial freedom opens doors of opportunities, it is time for women to open their door to financial freedom. Despite the difficulty of the daunting task, it is very much possible to gain financial freedom if certain things are followed.<\/span><\/p>\n