Ultimate Freedom: 8 Lessons from a Traveller on Money and Wealth
Has anyone ever felt the itch to pack their bags, and set sail around the world? I’ve been there, done that, and it’s been quite the ride.
Money is the main drive behind what I do. Who said money doesn’t buy happiness? Money does buy happiness, and it sure can buy a ticket to some incredible adventures.
Today, I'm going to share some nuggets of wisdom I've picked up along the way about money, wealth, and what it truly means to be free.
Defining Freedom
Ah, freedom. Such a big, almost mythical word, isn’t it? For the longest time, I thought freedom was about ticking off every bucket list item, like some kind of wanderlust-fueled scavenger hunt. But after years on the sea, I’ve come to realise that freedom is less about escaping and more about embracing.
Freedom, at least for me, is having the choice to do what I want with my time and energy. It's about having money to not be burdened by debts, to make sure my parents can live comfortably (typical mindset, being the eldest first-born in an Asian household), to travel to an exotic location every week (that would be a bonus).
Real freedom is waking up and knowing that your day belongs to you, not to someone else’s agenda, or expectation. It involves a steady income from passive sources.
What does freedom look like for you?
After a dark time in 2020, I started exploring new ways of making money. I’ve embraced the fact that financial security is key to freedom.
The rest of the blog post breaks down some basic principles about making money, saving money, and growing your income.
1. Pay yourself first
Paying yourself first sounds simple—like, of course I want to pay myself! But it’s about putting aside money the moment it hits your account. Before the rent, before the bills, and definitely before the coffee splurges.
Pay yourself 10% of everything you earn. The habit builds a sense of control. After all, if I’m working hard for this money, shouldn’t the first chunk go towards my goals rather than someone else’s profit margins?
Imagine telling yourself, “Future me, I’ve got your back.” Feels pretty empowering, doesn’t it?
2. Pay off debts
Debt is like a heavy backpack that just won't quit. It doesn’t matter how beautiful the scenery is; if you’re carrying debt, it’s going to weigh you down.
Paying off debt isn’t just a financial move—it’s a mental one. Each payment is a little slice of freedom, peeling back layers of that backpack until, one day, you’re strolling debt-free.
Tackle it one step at a time. Start with the highest-interest debt. Less debt means fewer worries weighing on the journey.
3. Live below your means
Living below your means doesn’t mean skimping on joy; it’s about making mindful choices. I used to think, “Well, if I can technically afford it, why not?” But that thinking has left me feeling broke before I’d even started.
By spending less than what you earn, you not only save money but you will also find contentment in the little things, like a sunrise hike instead of a pricey excursion. It’s not about being frugal; it’s about being intentional.
Are you living within your means, or are you letting expenses dictate your path to freedom?
4. Do not confuse necessary expenses with desires
It’s easy to confuse needs with wants. I’ve splurged on souvenirs that, in hindsight, were just fleeting desires.
There’s a difference between spending to survive and spending to satisfy. Ask yourself, “Would you really miss this if you didn’t buy it?”
It’s all about getting honest with yourself, spotting the difference between what keeps you going and what just keeps you… spending.
5. Make multiple income streams
Relying on a single income stream is like putting all your eggs in one flimsy little basket. What if that basket tips over? Having multiple income streams—no matter how small—gives you a cushion, a backup plan, a bit of breathing room.
It doesn’t have to be dramatic, either. Maybe it’s a side hustle, some freelance work, or even passive income from investments. With each extra stream, you’ll feel a little more secure, like building your own safety net.
And the best part? Those small streams can trickle into something substantial over time.
6. Increase your skills
One thing travel has taught me is that many of us don’t continue to study more. Sure, they may continue higher education to advance in their job.
But outside the scope? Is there such a thing as job security? The more we learn and improve ourselves, the more earning potential we have.
So, my advice? Never stop learning. Try something new every day, no matter how small. It might be uncomfortable at first, but that's where the growth happens. And who knows? You might just surprise yourself with what you're capable of.
7. Let money work for you
Here’s a thought: what if money could work as hard as we do? Money should be our ally, not just something we earn and spend.
Letting money work for you could turn small savings into significant wealth over time. Whether it’s stocks, real estate, or other investments, the key is to make your money generate more money. You don’t even have to limit yourself to these options if you learn money making skills.
It’s time to stop trading time for dollars and let passive income take the lead.
8. Overcome procrastination
I've battled procrastination my entire life. If procrastination were an Olympic sport, I'd have a few gold medals by now. It’s all too easy to put off financial planning for “someday”... but “someday” doesn’t come.
I’ve learned to start small, doing just one thing today that Future Me will thank me for. Maybe it’s looking into investment options, or study more ways to make money.
Tackling things bit by bit makes it all less overwhelming. The hardest part? Just starting. But once I do, it feels like lifting a weight off my shoulders. The sooner I stop putting things off, the closer I get to that elusive freedom.
Money and Wealth: A Traveller's Perspective
So, what does money really mean to a traveller? For me, it’s less about the numbers and more about the freedom those numbers can unlock. Money is the fuel, not the destination. It buys you time, choices, and a shot at living life on your terms.
Wealth isn’t about hoarding; it’s about knowing that if the world called you to a new adventure tomorrow, you’d be ready to answer without hesitation—or a frantic check of your bank account.
Don’t get me wrong; I’ve had my share of budget blunders and last-minute panics. I’ve been broke and in debt. I’m still learning, still fumbling my way through understanding money like everyone else.
But maybe that’s the beauty of it—the journey towards financial freedom is its own kind of adventure. Each lesson, each saved penny, brings us one step closer to a life we don’t need a vacation from.
So, here’s to redefining wealth not as a vault of gold, but as a life well-lived. After all, isn’t the ultimate freedom the ability to follow our hearts without fear of an empty wallet?