Financial freedom. We hear it on Instagram, YouTube, TikTok, but what exactly is it, and does the definition change for Catholics? Find out in this episode of the Catholic Money Show.

Financial freedom. Who doesn't want some of that?

You know, we hear about it all over social media. It seems like the buzzword of modern day times, don't you think?

Absolutely. I mean, just think of it. You even if you've never heard that before, But you probably have.

You've heard it. Even if

you haven't, though, once you hear it, you think Yeah. I want some of that dish it up. What is it?

If What is it exactly? What is it?

I think I want the it sounds good.

I mean, wow. Be totally free with my finances? Is that what it means?

Sounds great.

Let let's go through because

Oh, what is it?

We've been in this world, you know, of the financial realm, if you will

Mhmm.

For officially almost 7 years? But our own journey is more like 12 years deep.

Mhmm.

And this has been a topic that's been on the rise, basically, over the last decade? And when I hear the word financial freedom in different circles, it means different things. Mhmm. And so this is a fair conversation that we're gonna have today on the Catholic money show. And it's fair that we Step back and say, okay. Are any of these definitions actually right? Are there grains of truth baked in them? But there are they're also lies and deceptions at their core. So what are okay. Alright. Come on down.

Sign up for this. It's only 9.97, and financial freedom will be yours. When you hear something like that, what might somebody be alluding to when they say financial freedom?

Teach me how to make money on the Internet in my pajamas working 20 minutes a week. Okay. That's what that is. I know that pitch. Almost fell for it twice.

Yes. I think there are about 1,000,000 Internet scammers out there pulling that one, selling that 2 other wannabe business owners Mhmm. But they don't really sell them anything good?

Always thought on those. If this system is so foolproof, so Perfect. So easy. Why are you spending all this time trying to sell it to other people when you could just be doing it more?

Why don't you just retire and enjoy your rest of your life? Why are you still running this business?

Why buy the commercial? Just do the thing that gives you a gazillion dollars.

So there way. Those people are promoting financial freedom. The the translation there is make a lot of money.

Lots of money.

K. Make a lot of money. There's always little subtle definitions, but that one is straight up just, I'll teach you how to make a lot of money.

Mhmm. So then you can buy whatever you want.

Right. That's usually kind of the at the on the other side of it. Mhmm. I mean, they don't always tell you that, but that's kind of the Yeah.

But they're shooting the commercial in front of their beach mansion.

Yeah. On the hood of a Lambo or whatever. Yeah. Yeah. Yeah. Yeah. They're definitely selling as they have a Birkin bag in their in their on their arm. You know? That's what they're trying to sell.

Yes.

Okay. So make a lot of money so you can get whatever you want, usually high priced things.

Mhmm.

K. Alright. The other definition I oftentimes see, and this is more in our FinCon community, I would say, like, financial nerds? Mhmm. The law of finance,

people, world.

People who actually do know what they're doing.

Sure.

This is a more calculated math analysis Sure. Sure. Of financial freedom? And if you're looking at this really, really, factually. This definition's pretty dang good. Having enough assets that earn slash pay you enough income to cover your needs and maybe a few wants? Mhmm. So this yeah.

Go ahead. That you would run into in the so called fire movement, financial independence retire early Mhmm. Fire. You've calculate all this out.

Yeah. It's really down to just the numbers.

Is equal to or greater than the Outgo? The bills. Then

Burn rate is what the term is oftentimes referred to. Burn. My burn rate.

Then then you're there. Bingo.

Right. So you could do that in a myriad of ways. You could set different

Your burn rate's gonna be a lot lower if you're eating tuna salad sandwiches and living in a little apartment in the middle of nowhere.