How Free Are You – Find Your Financial Freedom Score

…this is Mey here on a rainy and peaceful Monday morning, what a beautiful day to start a magnificent week, blogging about How Free Are You – Find Your Financial Freedom Score…

…so, some would say that you are or you aren’t financially free…

…like turning on and off a switch…

…and this is true, because if you are financially free, you don’t need to work anymore…

…however, there is also another way to determine how free you are, and that is your Financial Freedom Score…

…it’s a way to measure progress…

…and there are 2 scores you can calculate…

…one measures your time freedom…

…the other measures your money freedom…

…go ahead and find out your scores below…

Financial Freedom Score – TIME

…take the number of hours that you have in a week, or a month, depending on your work cycle…

…in a week there are 7 days x 24 hours, so the total hours in a week are 168…

…so how many hours do you have to work in that week for money?

…let’s say it’s 45…

…how many hours do you have to prepare and commute to work?

…let’s say another 5…

…now take your total hours of 168 and subtract the 50 hours of work = 118 freedom hours…

…that means that your financial freedom score is 118 hours / 168 hours = 70%

…if you have a TIME score of 70% ask yourself what are you doing with that 70%?

…the more you use it wisely, the more likely more time freedom will be afforded to you…

Financial Freedom Score – MONEY

…take the amount of money that you currently spend per month, say $2,000.00…

…now take your passive income (money you make without spending time like dividends, interest…), say it’s $180 per month…

…now take your passive income $180 / total expenses $2,000.00 = 9%

…some people speed up their freedom by moving to a country where their expenses would be lower…

…for instance in Taiwan you could get by with $180/mo for rent and food in a very rural area…

…in which case, your score would change to 100%…

…or you might use the score to make a business decision…

…if I make this decision, will it help or hurt my financial freedom score?

Conclusion

…you have two scores on how free you really are, based on time and based on money…

…the good part is that most of us are already more free than we may imagine in terms of time freedom…

…it’s important to use our free time well, in order to bring more time for us to use…

…in terms of the money score, unfortunately most people are at 0-1%, and very few even get as high as this example of 9%…

…in order to be 100% free, we need to focus on building our passive income, and reducing our expenses…

…I love blogging about financial freedom, and helping others attain their dream of becoming financially free…

…that’s the power of blogging…

…not only that, I make money doing what I love to do!

…if you want to start your own blog and share what you are passionate about with the world, the CLICK HERE, watch the free video and get started…