by Katarzyna Radzka

Created on: July 21, 2009

Financial freedom is a state of bliss that everyone would like to experience, instead many are in debt and only thinking about how nice it would be, to be financially free. Those in debt are under the impression that financial freedom is impossible for them, the truth is that financial freedom starts with just one penny. One penny per week is fifty two pennies within a year, but zero pennies is always zero.

Saving pennies teaches us to save. Savings don't need to be astronomical to have a positive effect on your finances. The key is regularity. It's not good enough to save a large chunk this month but go on a spending spree for the next three months. The best way is to save a little bit, usually the same amount, each month to get yourself in the habit of putting money away. Starting small is the way to go in order to stick to it for the long haul. You can always increase the amount you save each month as long as it's comfortable and doesn't stop you from paying the bills, eating and having a little bit of fun.

Financial freedom is all about not having any bad debt like credit cards or personal loans, and having money in the bank saved for a rainy day. It means being able to go on holiday when you want to, have a retirement account and money put aside for a rainy day. It's also the ability to make choices about your job and work more for enjoyment rather than to make sure you have money to pay the bills. Saving pennies from the start of your working life can lead to this state within a few years.

Saving pennies forms a habit that will remain for life. Even when you're financially free it's important to put money aside. Starting with pennies gets you into the habit and within a few months or years, saving is the natural thing to do, whether you're saving one penny or one hundred pennies each month. This is the most important habit in order to attain financial freedom.

Starting with pennies is the way to go. Empty your wallet of them every day, or once a week, and put them away in a jar or money box, or deposit them into your savings account. Make sure you do this regularly to see the full effects of your pennies and you won't be disappointed.

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