Financial Freedom, XL Edition

Is it possible to achieve financial freedom? Or is it just a dream? Can you actually pay off all your debt? In order to reach financial stability and freedom, you will have to follow our comprehensive guide to achieve financial freedom and survive.


Financial freedom seems impossible. Especially if you are drowning in debt and can't even plan a decent budget. However, it may seem hard, but you definitely can achieve it! There are a few tips you should take into account in order to organize your personal finances and achieve freedom:

1. Write down a plan and set your goals

It may seem too simple, but to achieve the financial freedom you will need to create a plan and set your financial goals. Without this roadmap, you will probably end up failing and even increasing your debt.

There are some planning methods. One of those is the snowball method, in which you start writing down your debt from the smallest to the largest. By doing this, you can set short-term goals by canceling the small debt. Every step will take you closer to success. By writing down your plan, you will then get to see and experience the satisfaction of achieving your goals.

2. Eliminate bad debt

Once your plan is ready, you should analyze the different kinds of debt you have. There are basically two types: bad and good debt. The first one refers to those linked to credit cards, lines of credit or even car loans. These are considered bad because they can represent bad investment, lack of purchase control, high interest and...loads of accumulating debt. Bad debt is the type of debt that damages your credit score, which gets worse with time and can chain you to financial slavery for life!

So, the faster you cancel this debt, the closer you'll get to financial freedom.

3. Passive income

This is considered the key to financial freedom. A passive income is an income you accumulate while you aren't working, like earning money for running a successful website or being a landlord. This type of income usually is combined with an active income (your job). By generating passive and active income, you can earn more money, pay off debt and even save without any stress!

4. Discipline

If you manage to master self-discipline, you will be able to reduce bad debt and reach your goals. It may seem simple, but you need to train your discipline in order to achieve your goals. This means you need to control your purchasing impulses, always pay your credit card balances full and on time and stick to your budget. This is the most essential task that can help you achieve your financial freedom, so be prepared to make some sacrifices and avoid temptation!


We all finish school or college with a completely different knowledge about personal finance but, in most cases, we aren’t at all prepared to succeed at it. However, there is no need to panic. No matter how much you know, or what your situation is, there is surely a blog that meets your needs. Here is a list of the top 5  personal finance blogs for young adults to help you start creating a financial plan:

1. Broke Millennial

Unlike other millennials, Erin Lowry,  the author of this blog and the book Broke Millenial: How to Stop Scraping By and Get Your Financial Life Together, isn’t broke. She is a personal finance expert who created the blog to help millennials get their financial life together. She understands that it is a struggle for many young adults and that is why she created an interesting and easy to read blog to appeal to her peers. Broke Millennial can give you a good base to get serious about financial planning. There is no need to have any financial background to understand this blog because it isn’t too technical and uses simple language 

2. The College Investor 

Like many Millennials, student loans are what drove the author, Robert Farrington, to start writing in 2009 to figure out his financial situation. In his blog, he turns his experiences into practical advice for others who are in that same situation. The College Investor doesn’t believe you’re ever too young to start taking care of your financial plans and to start thinking about your investments. For any young adult who is wanting to invest and isn’t sure where to begin, this blog is the right place to learn. 

3. My Money Blog 

Jonathan Ping describes himself as a “father, husband, self-directed investor, financial freedom enthusiast, and perpetual learner” and has been sharing about money since 2004. His blog is about learning about finances, retirement and preparing for the futures  He and his wife are half time workers and their passive income is enough to cover their household expenses.

4. The Centsible Life 

Kelly Whalen, the author, is a mother of four and started her blog in 2009, She started The Centsible Life to write down how she was able to get her family out of debt. Soon after starting, she realized that others just like her, trying to get out of debt, were finding hep in her posts. She describes her blog as “my corner of the internet, where I help women live happier, healthier, and wealthier lives”. 

5. Money After Graduation

This blog, created by Bridget Casey in 2012, is an online financial literacy resource for young professionals who want to build long-term wealth. Her niche is helping young adults figure out how to pay off your college debt, start investing or plan for retirement. On the site e-courses and workshops are offered and thousands of millennials have already learned how to stick to a budget and achieve long-term goals.

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