Many of us have imagined a life where money isn’t an issue. Obtaining that level of success would grant us financial freedom that most people only dream of. But as distant as that goal may seem, it is achievable if you avoid the pitfalls. Here are three barriers to financial freedom and how to avoid them.

1. No End Goal

The first barrier to financial freedom is the lack of an end goal. We’ve all heard the phrase “keep your eye on the prize.” The reason that phrase is so popular is because people have a mutual understanding that focus is critical. By keeping your focus on the end of the race, you are better able to maintain your motivation. If financial freedom is your goal, sit down and figure out how much money you’ll need in order to consider yourself financially free. How much money will you need to retire early? To pay off your debt? How much will you need to buy your dream house and car? Make those financial figures your end goal and set your sights on them.

2. Lack of Discipline

Another barrier is a lack of discipline. In order to secure financial freedom for your future, you’ll have to buckle down in the present. This means avoiding impulse buys, steering clear of unnecessary debt, and sometimes declining invitations to participate in expensive events. Because your ultimate goal is to save money, you have to be extremely mindful of occasions that counteract that effort. People who lack discipline really struggle to turn down opportunities to spend money, even when they don’t absolutely have to.    

3. Missing Tools

The final barrier to financial freedom is failing to have the necessary tools to be successful along your journey. Desire and intention only go so far. To bring your dreams to fruition, you must know which steps to take. When it comes to making the right financial moves, having a well-thought-out budget, a financial advisor or mentor, and a clear method to track your progress are all tangible tools that can help you stay on the right path. Without concrete support and advice, the road to financial freedom can be quite rocky. 

Long term financial freedom is worth conquering the short term barriers. If any of these stumbling blocks are preventing your progress, step back, reassess, and try again.  You have what it takes to succeed. Don’t let minor setbacks stop you from pursuing your financial dreams.