One of my friends had called me lately and we had a good 30-minute conversation. The core of the conversation was that he wanted to start a company and was seeking ideas to acquire clients.
During our conversation, I was curious to know why he wanted to run a business in the first place. His reply flared up the idea for this blog post.
I spent a lot of time thinking, most times with a sip of tea, about what should I pursue – money or freedom. The more I chase money the less time I get to spend my time doing things that really matter. The more I leverage my freedom, the little I’m left with to spend. I thought I’d share a few things with you to decide for yourself.
1. Know Your Fear
Most people including me no matter who they are, how much they make, feel insecure about something or the other. The insecurities could be anything – losing a job, medical expenses, starting a business, falling prey to the mechanical life, getting out of debt to name a few. Understanding your fear gives you the opportunity to identify what you need to make you feel secure.
2. Take Action
Once you identify your insecurity take action to reduce its impact. Life is full of surprises and we can only try to reduce the impact of the bad ones. If you feel less secure about your job then improve your skills and make yourself unemployable. If you feel less secure about starting a business then save months of expenses before you quit your job. If you are insecure about your health start exercising, get medical insurance and you get the idea.
3. Think Long Term
Once you start thinking for the long term, you will save yourself from decisions that contradict with your goals. Hitting the gym to stay fit and hanging out with foodies won’t get you anywhere in the long term. Let go of the small things that deteriorate your long term vision. If you don’t know what you will be up to in 30 years, find out what will matter to you in 15 years. If 15 years feels too much, figure out what will matter to you in 7.5 years.
4. Stop Trading Time
Jon Jondai is a farmer from northeastern Thailand. He works for 15 minutes a day and two months a year and owns many houses. He strives to find easier ways to fulfil basic needs.
Jon Jondai isn’t making millions. But he figured that trading time wasn’t working for him. To him freedom is wealth.
Traditional jobs trade time for money. More money implies that you get only little to no time to put the money you earned in doing what you really enjoy.
When you know you can be content working a few hours a day and using the remaining time doing things that really matter to you, would you still enjoy trading time for money? It really is up to you to choose.
5. Finding The Sweet Spot
You can’t be enjoying a Mojito sitting at the beach talking about freedom when you have a mortgage or EMI to repay. Each time you trade a penny to purchase stuff, you’re trading your life. In other words, the more you spend, the more freedom is lost. So trade wisely.
It is always better to find a sweet spot between earning money and living your life to its fullest.
The question is how do you find the sweet spot? Once you identify your insecurities, take necessary action to tackle them. Thinking for the long term will act as a beacon in your life. Finding ways to stop trading time for money will give you an edge to leverage your freedom in unimaginable ways.
Hope this post helps you to find your sweet spot and live life to its fullest.