2. Swabeng Dilemma: The things that prevents you from achieving financial freedom

I'm sure a couple of years back or even a decade ago, whenever we think about financial freedom, it means that when one has a bank account or if we have an OFW relative (be it an immediate family member or a distant relative), we are assured of our future.

I can enumerate what prevents you from being financially free. However, I'll just tell you some of the things (in general) that hinders you to your financial success. Here they are:


1. Financial Ignorance

With today's technology, it is impossible for you not to even google what financial literacy is all about. If you decide not to act on it, then my friend you are considered financially ignorant. Its a matter of choice whether you take action and get it on or just get stuck (in poverty or worse).

It took me more than 30 years to realize that being financially literate is a very important factor to ensure not just my future but for my child's future as well. Right now, I can't afford to be financially ignorant and so do you.


2. Society's Influence

Every time you receive your salary during payday, are you influenced by your peers to go out on lunches, gimmicks, out-of-towns, or get the latest stuff money has to buy? Is it hard for you to say no to them because if you do, you're out of their inner circle?

If saying no to your friends gives you a hard time, then my friend you are easily influenced by your peers on your spending habits. You might even have the wrong set of friends for preventing you to achieve financial freedom. Think about it.


3. Too much dependency on your relatives

When you're starting to earn money on your own and say you ran out of cash, what do you do? I'm guessing that you'll ask for help from your parents. While some parents (and some relatives) won't mind providing assistance to their children, we should never be dependent on our parents (especially if we are working already) nor on our OFW relatives whom we think they're doing well in life.

If you are nearing your retirement (or if you are retired already) you should never rely on your children for your retirement expenses as well since they have their own family to take care of now.

These are the things that I know (for now) that could hinder you from achieving your dream to financial independence. I could add more in the near future but anyway, on the next post, I will show you the steps to achieve financial freedom.