What Is Financial Freedom To You?

What do you think when you hear “financial freedom”? Is it being wealthy enough to charter your own yacht, buy fancy jewelry, or take up race car driving? That’s all fun to think about, but maybe it’s more simple. Maybe it’s living a financially secure life - one where you control your own choices.

The beginning of a new year is a great time to make positive changes that will lead you toward financial freedom. And you can bet CoastHills will be with you the whole way, guiding you in the right direction. First, it’s important that we understand your unique goals.

Getting to Know Your Financial Personality
One way to start is through our Financial Wellness Center, where you’ll find a brief questionnaire. It’s a five-minute “checkup” that helps assess your finances, so we can recommend tools, content, and courses to support your goals. You’ll receive a free analysis of your financial personality and learn how it can influence your money decisions. From there, you can build financial skills each month, at your own pace.

Understanding What Financial Freedom Means to You
In the same way that goals vary from person to person, so do our motivations. It helps to visualize what financial freedom means to you, because visualizing it will help keep you motivated on your lifelong path. Financial freedom can be:

• Freedom from debt. When you’re not burdened by high-interest debt on credit cards or loans, you become free to use that saved money to achieve goals and dreams. 

• Emergency savings. These may come in the form of unforeseen medical costs, home-appliance replacement, major car fixes or unemployment. Having to borrow to get through a rough patch just makes matters worse.

• Control over spending. This is about being intentional and making sure your purchases align with your priorities. Understanding where your money goes and how that spending supports your values, goals and lifestyle is one example of financial power.

• Income stability. This means having a steady, dependable flow of income that can be counted on to cover everyday needs and plan ahead. It’s less about how much is earned and more about how consistent that income is over time.

• Future preparedness. As you look toward the future, do you see yourself in your own home? Do you hope to send a child to college? Can you imagine a retirement filled with new adventures? These all fall into the category of “future preparedness” and are worthy goals.  

• Flexibility to choose. This is the kind of freedom that comes when you have a buffer built in that enables you to make your own life decisions. It could be making a career change, pursuing a new passion or starting your own small business.

Create a Financial Plan for Your Priorities & Goals
Now that you’ve thought about what financial freedom means to you, it’s time for the next logical step - a plan to help you achieve those dreams. Don’t worry, you don’t have to do it alone. This 20-minute course in our Financial Wellness Center is designed to help you set priorities and goals. You’ll start with a brief video, then move through interactive exercises and quizzes that offer immediate feedback. You’ll come away with a personalized action plan!

Learn Practical Strategies to Achieve & Maintain Financial Wellness
Financial freedom is a personal thing and looks different for everyone. And as you move through different stages in your life, you’ll find new levels of financial freedom. This is why you’ll want to keep a broad perspective to maintain financial wellness, no matter what direction you move.

• Explore this 30-minute course on understanding the importance of financial wellness to enhance your overall well-being and learn how wellness manifests in daily life.

• Visit our blog anytime you have a spare moment. It’s an excellent way to learn about money management, featuring straight-to-the-point articles on a variety of financial topics.

Freedom Plus Checking
CoastHills’ Freedom Plus Checking is a great account to help you reach your financial goals. This free checking account offers high dividends, allowing your money to grow as it works for you. 

Here’s to a new year and positive change! And you don’t have to do it alone. We’re here to help you make it happen.