8 Expert Tips To Attain Financial Freedom Without A Job: Act Now!

Table of Contents Show

A friend once said to me, "Life is only worth living for two days, Saturday and Sunday, rest is just slavery."

This sentiment resonates with many of us – trapped in a cycle of workweeks dictating our lives, leaving weekends as the only pockets of true freedom. We become cogs in a machine, slaving away for someone else's dream.

It doesn't have to be this way. We all have the power to take control of our finances and live life how we want. And it all begins with a change in mindset and perspective. If we’re not doing it right now, there’s no excuse.

Financial freedom means having enough money to cover your needs and wants without relying on a job. It's about having the flexibility to pursue your passions and control your time.

It begins with making conscious choices that dictate our spending and saving to liberate ourselves from the 9 to 5 grind. As poet and author Oscar Auliq-Ice said:

“Millions wish for financial freedom, but only those that make it a priority have millions.”

— Oscar Auliq-Ice

So let’s make financial freedom a priority and live life beyond the weekends. Let’s make every morning something to look forward to, where you call the shots on how to get financial freedom and decide how you make your money.

Lets explore the tools and strategies to break free from the workweek shackles and design a life brimming with freedom and possibility.

Are you ready to ditch the Saturday and Sunday-only mentality and embrace financial independence? Let's get started.

A. 8 Expert Tips for Financial Freedom

There are billions of people in this world. Why is it that only a few ever achieve financial freedom?

The reasons may be many but the change begins with you. Consistency, discipline, and planning are just some things you need to work on to achieve financial freedom. While each individual’s challenges may be different, they are built on the same principle - pulling yourself out of the normal into the extraordinary.

This begins with overcoming internal and external obstacles to bring about the mindset you need to achieve financial freedom. Let’s explore 8 Expert Tips to beat them and be financially independent

Tip 1: Reframe Your Starting Point

The "zero to hero" mindset can be a trap because it focuses on a lack of resources. It’s the thinking that you can’t make money with an empty pocket.

Become Financially Independent When You Have Nothing

Here's how to shift your perspective and start paving the way for financial freedom even with small innocuous things:

1. Treat Capabilities as Assets

Instead of "I have nothing," acknowledge your strengths and skills. Are you a great organizer? A creative problem solver? These are valuable assets that can generate income and help you achieve financial freedom.

Making money can be as simple as doing odd jobs, babysitting after school, or putting in extra work hours to start saving your investment money.

2. What are you Pro At

What resources do you have currently? Make a list of your skills and past experiences. Are you a good writer? Do you have a knack for teaching? Can you leverage any of these to generate income through freelance work, online courses, or consulting? Time, skills, and even the willingness to learn are valuable starting points.

3. Utilize Your Idle Time

Take stock of your time, physical assets (like a car), and access to technology. Maybe you can do Uber on your regular route or freelance your tech skills to make money.

Financial freedom is built on a foundation of consistent progress, not overnight miracles. You don't need lots of money or to be a certain age. You can start with "zero" and build with consistent effort.

Look at the example of John Magennis who at 42 is a TV producer, professional speaker, and entrepreneur, with his very own IMDB page. He didn't follow the traditional college route. John was self-taught in web design and started his own business at the young age of 14! Starting at just $15 a website, he grew his skills and clientele to the point where he could command fees of $30,000 per site. This work ethic and talent allowed him to become a millionaire by the time he was 16.

Tip 2: Let Go Your Fears

The first step to achieving financial freedom is identifying your fears. You can’t become a risk-taker overnight. The biggest mistake is inaction and staying in a false blanket of security.

How to Let Go of Your Fears to Achieve Financial Freedom?

Here’s what you can do to conquer your fears and pave the way for a financially independent mindset:

Start Journaling: What are your biggest financial fears? Write them down and explore their root causes. For example, you’re earning $5K a month but it’s a dead-end job with no career growth. What scares you more? Losing your monthly income or staying on this fixed amount for years? Or is the thought of starting out on your own through freelancing or looking for a new job without the steady $5K coming in?
Focus on Controllables: Consider your options. How can you save up more money to have a security blanket and look for a job? Can you pick up a side job like working at a cafe or driving Uber and save more? Can you cut down on fuel and social expenses like eating out? This gives you flexibility and breathing room to actually focus on building your financial freedom and getting out of the no-future 9-5 you’re stuck in.
Celebrate Small Wins: Shifting your financial mindset is a journey. Celebrate your progress, no matter how small. Did you stick to your budget this week? Did you land your first freelance client? Did you save $200 this week? Acknowledge these wins, reinforcing positive habits and building confidence.

Tip 3: Embrace Calculated Risks

The road to financial freedom is paved with smart, calculated risks. This doesn't mean reckless gambles, but taking well-considered steps outside your comfort zone.

How Can I Set Myself Up Financially — How Can I Set Myself Up For Financial Freedom?

Here are a few things I did:

Do Your Research: Before taking any risk, gather information. Research investment options, talk to financial advisors, or read success stories of others who took calculated risks.
Start Small: Don't jump into major investments right away. Begin with smaller risks, like exploring a side hustle or automating a portion of your savings. Invest your savings, be it in real estate, stocks, or fixed-interest schemes. This way your wealth is always multiplying even if the amount coming is $100 to $500.
Focus on the Upside: While acknowledging potential downsides, visualize the potential rewards of your calculated risk. When this investment decision you made works, you’ll have $5K sitting in your account at the end of the year rather than then only $416 every month.

““As you move outside of your comfort zone, what was once the unknown and frightening becomes your new normal.” ”

— Robin S. Sharma

Tip 4: Build A Financial Plan

Building a financial plan doesn't have to be complicated. It’s all about setting targets like saving $1k a month or increasing your income annually by $10k. Then you need to budget and plan.

How much do you have in hand? Can you invest it in real estate or stocks? Can you start a side hustle to increase your income?

Here are a few steps to get started on your financial freedom plan:

Know Your Why: Before diving into numbers, take a moment to reflect on your financial goals. What do you want to achieve with financial freedom? Is it early retirement, traveling the world, or simply feeling secure about your future? Having a clear vision will guide your financial decisions and motivate you throughout your journey.
Smart Budgeting: There are many budgeting methods (50/30/20 rule, zero-based budgeting). Choose one that suits your style and use budgeting apps or spreadsheets to track your expenses. Be realistic about what you need versus what you want, and allocate funds towards savings, essential expenses, and some wiggle room for discretionary spending.
Review and Refine: Don't set your plan in stone. Regularly review your progress (monthly or quarterly) to see if you're on track. Adjust your budget as needed based on changing circumstances, for example, the markets going down or if your goals evolve, like moving to a new country.

Tip 5: Outsmart Impulse: Wait 24 Hours

We’ve all been there. We go to buy some groceries and see the kitchen blender on sale. It’s at 40% off and would be such a steal because it’s a newer model. Instead of putting it in the cart - Wait! Stamp down the impulse and think it won't be here tomorrow. Financial freedom is all about smart spending and prioritizing your objectives.

Here’s what you need to do:

Hit Pause for 24 Hours: Give yourself 24 hours to consider. Wait and see if this purchase really makes a difference in your life. Do you really need the blender when you have a workable one at home? It meets your needs just fine, would the new one make a big difference?
Evaluate Wants vs. Needs: Distinguish between needs (essentials) and wants (desires). Do you need the blender or the eggs, meat, and veggies you came to buy? What’s more important?
Research and Compare: If your old blender is actually giving you problems and you really need a new one, then go back home and see if you can find a better deal. Instead of buying an expensive one on sale, you can also do it with a workable model and put the money in your savings fund.

Tip 6: Embrace The Long Term

Financial freedom is not a quick get rick race, it’s a steady consistent process. The key is to set realistic expectations and chat a course for success that aligns with your objectives, not fantasies.

Here’s how you can stick to your path to financial freedom:

Craft Long-Term Vision: Visualize your future financial goals. A clear vision keeps you focused on the long game and helps you make smart financial decisions today. When we’re limited by higher expenses and minimal savings, we get discouraged and stop thinking about our long-term goals. That $1k a year can be $5k in 5 years. Maybe at $2k, you get motivated or find a way to increase your income. That $2k can also be a starting point to invest in certifications to boost your income.
Set Realistic Goals: Set achievable goals based on your income and expenses. Reaching realistic goals builds confidence and keeps you motivated. For example, based on your expenses and income, you can only save $100 a month. This seems like a nominal amount not worth saving and you spend it on treating yourself to a new pair of shoes or eating out. What that comes to is no saving at all. Even $1k a year can be better than having $0 savings.
Track Your Progress: Celebrate small wins and milestones. Every dollar saved and every smart financial decision is a step in the right direction. Like resisting the impulse buy blender and putting the money in your savings fund to meet the target of 1k monthly.

The aim is not to become a millionaire overnight. Celebrate saving your first $1k then your first $5k. Set realistic goals based on your income and steadily build your wealth over time.

Tip 7: initiate Multiple Income Streams

Explore ways to diversify your income streams and multiply the money coming in to attain financial freedom. Think beyond the 9 to 5 mindset and ask yourself, “how can I be financially independent without a job online?”

How Can I be Financially Independent Without a 9-5?`

Here are a few things you can do:

Multiple Side Hustles: Consider a side hustle that aligns with your skills and interests. Are you an excellent cook? You could try starting a small business, starting with selling to colleagues and friends and advertising online through social media. This could start new income streams and even grow into your main gig over time.
Passive Income: Invest in assets that generate passive income, such as rental properties or dividend-paying stocks. Remember the $5K you saved? Put in a fixed investment scheme to generate $30 monthly. This provides a steady stream of income without requiring constant effort.
Skilled Online Work: Are you a great writer or have teaching skills? Look for online writing gigs or explore online tutoring that pays by hour or project. Explore freelancing platforms or Facebook groups to start earning. Upskill with free resources and guides on YouTube and start applying for higher paying gigs when you have experience.

Here’s a life example of Michelle Schroeder who became financially independent without a 9 - 5.

Michelle Schroeder-Gardner was a successful CPA, who craved a location-independent lifestyle. To achieve this, she launched "Making Sense of Cents" in 2011, focusing on travel hacking and personal finance.

Through high-quality content, diverse monetization (advertising, affiliate marketing, online courses), and community building, her blog exploded in popularity. Within a few years, her online income surpassed her CPA salary, allowing her to travel the world full-time and become a financial freedom inspiration.

Tip 8: Build Your Financial Knowledge

Financial literacy is the foundation of financial freedom. However, many people lack the basic knowledge to navigate the complexities of personal finance.

The good news is that anyone can overcome the knowledge gap. All it needs is research, education, and keeping yourself well-informed about the financial happenings and market.

Here are a few things you can do to increase your knowledge in your quest for financial freedom:

Government Websites: Look for resources from trusted government agencies like the Consumer Financial Protection Bureau. These websites offer unbiased information on various financial topics.
Financial Books & Ebooks: Libraries offer a wealth of financial books and ebooks for free. Librarians can also help you curate a personalized learning list.
Online Resources: Financial podcasts and blogs from verified sources break down complex topics into digestible, giving you the choice of listening or reading to understand how finance works. LinkedIn and several universities have free online courses available on various disciplines available for free.

Look for credible and valuable information. Begin small, don’t overwhelm yourself with a truckload of information. Educate yourself about the concept first to understand how it works and then go into depth.

B. Decyz POV On How To Be Financially Independent Without A Job

“My definition of financial freedom is simple: it is the ability to live the lifestyle you desire without having to work or rely on anyone else for money.”

— T. Harv Eker

At Decyz, we understand that financial freedom isn’t given, it's earned. It’s not easy but a painstaking struggle achieved through persistence and hard work.

Financial freedom is a journey paved with possibilities and choices, where we make mistakes but also learn from them. That’s how we grow and work for our own goals, making ourselves rich, not the people we work for.

This is where our struggles come to fruition for us, where we reap the rewards by living a life doing what we love and excel at financial freedom isn't just about money; it's about control, flexibility, and the freedom to pursue your passions.

Don't wait for the "perfect" time to begin. Start today, celebrate small wins, and watch your financial future transform.