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Most of us dream of achieving Financial Freedom ? that moment when we don?t have to worry about how we?re going to pay the bills or make rent, when all our basic needs are provided for.

When there?s enough left to set aside for whatever we desire, whether that?s paying off debt, recreation, or a long vacation.

But what is financial freedom, really?


Simply put, financial freedom is having enough income coming in to not have to trade your time for money anymore.

Most people believe that working until you retire or getting rich is your best bet for becoming financially free. But being rich doesn?t necessarily mean you?re financially free. In fact, 95% of people have this misconception. 

So today, I?m here to tell you there?s a better way.

And that way is by building yourself a stream or multiple streams of passive income that can pay for your expenses and more? without the need for constant, tiresome work.


In this article, you?ll learn:

  1. What passive income is and why it?s the best way to achieve financial freedom?
  2. How much money do you need to be making to become financially free (in 2 simple steps)?


By the end of this article, you?ll be able to identify how to earn passive income and how much money you need to be earning passively in order to be financially free.


How Much Money Do You Need To Become Financially Free?


What Is Passive Income?

Passive income is exactly what it sounds like: Money that comes in whether you?re actively working or not.

It may sound strange at first, but it really does make a lot of sense.


There are two main ways to make passive income:

1. Investments working for you

The first major type of passive income is an idea most of us are familiar with already: investments.

These investments generally create monthly income with a fixed or standard rate of return attached to them.

This would include vehicles like bank and government bonds, corporate bonds, t-bills, rental property income, etc.




2. Business(es) working for you

The second type of passive income is the one that?s harder for most people to wrap their heads around: passive business income.

Many people assume that running a business means you need to be constantly working to achieve any real success. But that?s actually not true at all.


Instead, what you need to do is create a business that has the potential to be systemized so that it can work without you. That way, rain or shine, money will continue to flow in whether you?re putting in the hours or not.

The reality is that you want to have BOTH investments and business always working for you.



Now that you know what passive income is? How much money do you need to be earning passively to be financially free?

Read on to learn a simple formula to find out how much income you need to be earning from different passive income ideas to be financially free.

The first step is to take a look at your expenses?


Step 1 ? Ask Yourself: What Are Your REAL Expenses?


Of course, passive income is only part of the puzzle. If you have passive income pouring in, but it doesn?t add up above and beyond your expenses, you?ll still never reach a state of financial freedom.

The other part is understanding your expenses and what?s actually essential in your life. Why?

Well, when we are talking about financial freedom, there are two ways to talk about it.


The first is being free just to be free. This is when your passive income pays for only your basic needs, but not much extra (like all the extra luxuries in life).


Then the other way is where you can get whatever you want, when you want, and still not ?have? to work.

The ultimate goal is the latter of the two, however, it?s a great first step when you have all your basic needs taken care of, yes or yes?!


So it?s best to create a list of your expenses that are necessities and a list of ?nice to haves.?

You?ll notice when you do this, that it?s much easier to simply cut or simplify the non-essential expenses. You?ll begin to question whether you truly need them in your life. 


Remember, even better than passive income, the best way to make money is to manage your money well.

The best way to make money is to manage your money well.


Let?s move on to Step 2?

Understand your expenses and what?s actually essential in your life.

Create a list of your expenses that are necessities and a list of ?nice to haves.?


Step 2 ? Calculate Your ?Financial Freedom Number?


It comes down to simple math. The simplest way to do this is?


For example: rent, mortgage, utilities, food, debt/loans, insurance, prescriptions, doctors, kids care, pet care, phone, car, car gas (if it?s necessary), etc.


You?ll need to earn more than [INSERT YOUR EXPENSE NUMBER] in passive income to be financially free and have all your basic needs met.


So now that you understand how much you need in passive income to be financially free, the next step is to figure out how to make it happen and take action!


Your road to financial freedom can take a very, very short time? if you know what you?re doing.

Want to discover exactly how I and other women trained by Women Flix became financially free, and how you can become free, too?

Then join our Community.



In our Community, you?ll have access to:


And much, much more! Click here to watch our Video!


What did you think about the article above?

How much money do you feel you need to make to become financially free?

Please share in the comments section.

For Your Freedom,






Written by Yola Bastos Co-Founder of Women Flix  and Founder of Beautifly Digital

https://msha.ke/yolabastos/

Empowering Financial Freedom for Women Worldwide


Women Flix Limited, a company limited by guarantee, incorporated in England and Wales (company no. 13047578 ).