Given a choice what would you select – Financial Freedom or Financial Confidence.
I am 100% sure that the majority of you have selected Financial Freedom.
Well, how many of you know the difference between Financial Freedom and Financial Confidence?
Financial Freedom – Financial freedom is having enough residual income to cover your living expenses. It is not about being rich and having tons of money, but having enough to cover your expenses so that you can spend your precious time doing what you like rather than doing things just to earn money.
Financial Confidence – Financial Confidence is income on demand. It is the ability to make money with your skill. It is confidence and the ability that you can go anywhere anything any industry and you can make money with your skill.
Financial Freedom or Financial Confidence
Financial freedom is a general choice but believe me, it’s a bad choice compared to financial confidence.
When we say the word financial freedom what picture comes to mind lot of money, lot of abundance, passive income no need to work and all. No boss, you can do whatever you want to do right financial freedom.
But, passive income and financial freedom is not the thing that you want. You want financial confidence.
You might have read the book of Robert Kiyosaki – Rich Dad Poor Dad where he talks about passive income. He shares that when your investments grow when you have enough passive income coming in that exceeds your expense that you’re free. Financially free.
But I think passive income makes you lazy. It does not allow you to work.
You have to participate actively in business or job to get success to get an achievement.
E.g in Health you go to the gym and you say can I have some passive health. I want to build passive health. It sounds stupid right. You have to work actively to get a good health.
Although you build passive income still you need financial confidence because something is passive doesn’t mean it’s permanent. Passive income can also go away.
Suppose you’ve got some passive income coming in from some online website you’re selling something let’s see how long that lasts three months six months a year you got a property producing passive income you lose a tenant your passive income suddenly goes to zero.
So, forget the concept of financial freedom and go for financial confidence.
Now I am talking about something completely different financial confidence is income on demand. This means whenever you demand you can generate income. You have confidence and ability that you can go anywhere in any industry and do any dam work or business, you can make money.
Your skill can earn you money anytime anywhere.
You need to learn high-income skills that can give you financial confidence.
E.g Get the skill of selling you should be capable of selling anything and everything. You should be able to generate revenue. It doesn’t matter what you sell, application, services, product, or any other thing.
Once you get financial confidence, no one can take it away from you.
Does that make sense? So develop that that’s the truth the financial confidence.
How to develop Financial Confidence?
You can build financial confidence only with skill. You need to learn skills that are in demand.
We have shifted from a job economy to what I called a skilled economy. It is not the degree that pays your bill, it is high-income skills that pay your bill. That gives you financial confidence.
It may be difficult for you to learn a skill, but if you learn, it will pay off forever.
Remember what I have shared in my earlier article – 10 high-income skills that can make you rich.
- Skill = Income
- Skill = Money
- Skill = Confidence
You need to learn a new skill, new things that give you financial confidence & financial confidence gives you power.
Remember What Warren Buffett Says – The Best Investment You can make, is an investment in yourself. The more you learn, The more you earn. Keep Learning Keep Growing.
Keeping this in mind recently I started learning the French Language from the Top most institute in Anand – Techno Language Lab. Ms. Tulsi Shah from Techno Language Lab is a great tutor in French. It was a very good learning experience after so many years…!
Now once I learn french. I can leverage the power of this foreign language anytime. I can monetize it and generate income on demand. I can start my class, I can do translation work or work as a French language translator.
See the power of skill and learning. It gives a lot of financial confidence.
The French language is an example, you can learn many other high-income skills that give you financial boost, power, and confidence.
Over to you
Do you think that financial confidence is more important compared to financial freedom?
Do you think learning new skills and improving your persona gives financial confidence?
If you agree with my thoughts just share this post with your friends and relatives. You can even share it on your social media page.
In case you are looking for guidance or support you can get in touch with me at firstname.lastname@example.org