It’s so easy to push having savings to the bottom of your to-do list. After all, you haven’t experienced any emergencies, right? However, that will not do you any good in the future. Although enjoying what you make in the present is important, you also need to make sure your future is secure. We’ve rounded up the benefits of having financial freedom below. 

1. You can achieve your goals sooner Unless you want to rely on money from your family, and trust us – they are probably less happy about this than you are – you need to learn how to stand on your own. Being financially independent will help you have the savings you need to achieve all your dreams. 

2. You’ll be prepared for emergencies Whether it’s an unexpected trip to the hospital or a sudden job loss, you need to cushion yourself from the financial impact of emergencies. When you become financially independent, you can still be comfortable without drowning in debt even when emergencies occur. 

3. You’ll retire comfortably sooner The benefits of savings are not just short-term. One of the most important impacts of financial independence is it will enable you to retire sooner. A lot of retirees who simply rely on their monthly pension do not have enough means to continue to travel, grow their business, and enjoy their life. The earlier you save, the more comfortable your retirement life will be. 

4. You’ll be freer Among the most vital reasons to work towards achieving financial independence is even if you don’t know what you’re currently saving for, you may find something that you’ll want in the future. This may be a house, a new degree, or a family. The thing with financial independence is it doesn’t center on money. Instead, it revolves around giving yourself the flexibility you need to enjoy your life. When you have enough funds, you can do whatever you want without having to wait for your next paycheck. 

5. You can follow your passion Millions of Filipinos work until they are old just so they can have the money to cover their expenses. So when they finally start earning more, they immediately think they have an excuse to spend more. However, lifestyle inflation is a very dangerous cycle. The sooner you understand this; the sooner you’ll be financially independent. When you work hard to save money and invest now, you can have more time to enjoy your passions in the future. 

Whether you want to travel across the country, collect cameras and lenses, or open a non-profit organization, financial independence will allow you to live a passion-filled life to the fullest.