A. I want to stress on the fact that 'Financial Freedom' should never mean living indifferent to everything around you (regards to money). We must not forget that we're living in a constantly as well as rapidly changing world. Hence, we should always manage our money well. The journey to Financial Freedom could be long but utterly satisfying. Mostly it consists of the following steps:

(1) Taking adequate insurance cover esp. health and term insurance.

(2) Creating and maintaining an emergency fund.

(3) Having a family budget ready by making an allocation to different expense heads.

(4) Focusing on investing in yourself, achieving growth and stability in career, and in income.

(5) Investing majorly in debt assets for short term goals.

(6) Investing majorly in growth assets for long term goals.

(7) Actively participating in money management with your financial advisor.


Source : Financial Literacy