When you can cover your living expenses with passive income from investments, working becomes optional. Turns out there’s a term for that: financial freedom, also known as financial independence.

In other words, freedom from the daily job to make ends meet, freedom from a boss, freedom to do what makes you happy rather than living chained to a paycheck.

How do we achieve financial freedom? By setting a high savings rate and investing for high returns.

But enough of our jawing about financial independence. Enjoy these quotes for financial freedom, to motivate, inspire, and inform you how to get there too.

Quotes for Financial Freedom

Here are a few of our favorite quotes about financial freedom — enjoy!

It Starts with Budgeting

“A budget is telling your money where to go instead of wondering where it went.”

— John C. Maxwell; Quote picked by David Northup, Founder at InShapeMD.

David explains further: “A thought that often crosses our minds when we are left with less money than we need is ‘Where did all that money go?’ And this quote addresses that predicament perfectly. The problem is that we do not have control over how we spend and invest what we earn, which means we are left following the route our money takes instead of directing it. The solution is to follow a strict plan where we route our money according to a set budget that has financial freedom as its primary and ultimate aim.”

“Beware of little expenses, a small leak will sink a great ship.”

— Benjamin Franklin; Quote picked by Sallie McBrien, Realtor at Your At Home Team

In McBrien’s words: “This quote is from one of our wisest Founding Fathers and is a reminder for me of what is the root cause of debt: frivolous spending. A little item here, and little fast food there can quickly add up to hundreds of dollars. You can nickel and dime your way into debt just as you can nickel and dime your way to financial freedom.”

You Need FI, Sooner or Later

“If you don’t find a way to make money while you sleep, you will work until you die.”

— Warren Buffet; Quote picked by Jordan Fulmer, founder of MomentumPropertySolution.com.

Fulmer’s quote is popular for a reason. “Passive income is the largest component of financial freedom. If your income stops when you stop working, you are not financially free. The great thing about establishing passive income streams is that they continue to produce income while you spend time forming other income generators.

“By doing this, you are able to diversify your income and follow in the footsteps of self-made millionaires that have several significant income streams. By generating income that is not attached to your time, you free yourself up to dream up new business opportunities that wouldn’t be available to you if your time was consumed by a job.”

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Persistence Required

“Money grows on the tree of persistence.”

— Japanese Proverb; Quote picked by Paul S. Sian of RealCincy.com.

Something many don’t think about when it comes to creating passive income streams is persistence. Paul says: “To me persistence means to keep on the path you started on no matter how many doubts or obstacles you may come across.”

Real Estate Gets You There Faster

“Ninety percent of all millionaires become so through owning real estate.”

— Andrew Carnegie; Quote picked by Danny Margagliano from Destin Property Expert.

Danny explains: “People often ask if it’s a good time to purchase real estate as an investment. The short answer is always yes. If you plan on holding it long-term, a property’s value will go up. Furthermore, if you want to build passive income that will lead to financial freedom, buying a home or condo as a rental property is the way to go.”

“It’s all about expanding your real estate portfolio. To do this, start by buying smart, living within your means, making the right upgrades, generating income and then rolling those profits into additional properties.”

— Joe Edgar, CEO of TenantCloud & Rentler

Edgar continues: “To gain financial freedom, it’s essential to choose a side hustle that would make you money while you sleep. In this context, investing in rental properties might be one of the best businesses for generating passive income. For starters, you’ll need to learn how to reasonably manage money and then how to efficiently manage your rentals.”

Passive Investing Works

“Save as much as you can and use the savings to invest in ETFs which focus on the entire market and let the power of compounding do its thing.”

— James Crawford, founder of DealDrop.

James includes some personal advice: “Since the COVID-19 Pandemic, many people have reassessed what is essential in life. As a result, people can achieve financial freedom because their goals of what financial freedom means has changed. If you buy a smaller or cheaper property and pay down your debt faster, you’ll be able to invest your ‘mortgage repayments’ into investments that compound.”

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Money Is Just the Tool

“The goal isn’t more money. The goal is living life on your terms.”

— Chris Brogan; Quote chosen by Orlando Rodríguez, from Credit.com.

Rodríguez adds: “This quote really speaks to me. Some may say we live in a world in which more money means greater status or success. While this may be true for some, to me it speaks volumes when those that want to achieve financial freedom do so to become better providers for themselves and the people they care about most in their lives. And that can give just about anyone with an unparalleled sense of accomplishment.”

“Financial independence is about having more choices.”

— Robert Kiyosaki; Quote chosen by David Clark, CEO and Founder of Basement Guides.

David goes on: “This quote by Robert Kiyosaki accurately describes one of the benefits of being financially independent. Financial independence allows you to have a wider array of choices and more freedom to choose what you want to do without being limited due to a lack of resources.

“Oftentimes, our choices are limited in what we want to do. We’re forced to work longer hours, put off buying something we really want, or even sacrifice a few things because our financial situation doesn’t allow it.”

Personal Growth, Not Just Financial

“Financial freedom is a journey of self-love.”

— Danetha Doe, Clever Real Estate.

Danetha explains: “I believe financial success is 20% about the money and 80% about the person you become in the process. The more success you achieve, the more you realize that money without fulfillment feels empty. True joy and true fulfillment can only be achieved when you learn how to love the person in the mirror.”

Final Thoughts

As we round out the list of financial freedom quotes, I’ll add a paraphrased quote that I like from Dave Ramsey: “Personal finance is not a math problem. It’s a behavior problem.” Here are a few more for good measure:

“I hate to break it to you but if you limit your money-earning abilities to eight hours a day, you’re not going to find financial freedom.” — David Bailey

“Success is doing what you want, when you want, where you want, with whom you want, as much as you want.” — Tony Robbins

“Money is a terrible master but an excellent servant.” — PT Barnum

“Wealth is the ability to fully appreciate life.” — Henry David Thoreau

No amount of budgeting spreadsheets or automated savings apps will help you save a dime if you don’t start by focusing on changing your own behavior. Budgeting is like dieting: sure, there are a few tricks, but by and large it’s about discipline. We all know we’re supposed to eat more vegetables, fruits, lean proteins, and whole grains. We just don’t do it. 

Stop making excuses like “I’m on a single income,” or “I’m married to a spendthrift.” It doesn’t matter if you were born a poor person or a rich person — what matters is what you do with your money now, as an adult. Build the habit of saving, learn how to invest for high returns (such as real estate syndications), and start building real wealth.

Or keep doing what you’re doing. Just don’t be surprised when you’re still just as poor in five years as you are today.♦

What are your favorite quotes for financial independence?

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