Financial freedom is the state whereby the amount of passive income generated from investments, royalties, businesses, property and other assets exceeds your living expenses. It is when you have so much unearned or passive income that you no longer need to work to maintain your current lifestyle.

Many of you and I are trapped in the time-money trade-off where we have to invest time in running a business or earning a wage in order to earn the income that supports our lifestyle. If we were to achieve financial freedom, then you would be able to literally fire your employer and to do whatever you want with your time, energy and life.

Is financial freedom possible for the wage earner or average person?

Yes. It is possible if you follow the following principles that will lead you towards financial freedom:

• Live within your means
• Save and invest
• Grow your means

I have set up my target towards financial freedom. It is achievable in my lifetime even when I am just a salaryman on a monthly wage like the majority of people out there. However, I live within my means and minimise conspicuous consumption. I save and invest my monies in fixed deposits, treasury bills, stocks and shares. I grow my means by exploring blog monetisation opportunities using AdSense and continue to learn skills in public speaking and communication as well as volunteer work that helps me acquire knowledge outside of my normal scope of work.

I enjoy my life balancing between work, family life and my interests in financial freedom.

You too can achieve financial freedom if you are willing to learn and apply the principles in your daily life.

Be well and prosper.