5 Steps to Financial Freedom: How Much Money Do You Really Need to Feel Free?

Money Talks, Literally – with Uncle Abundance

“Uncle… how much money do you really need to get to financial freedom?”

That’s what my cousin’s mate asked me while we were in line for a concert.
And I’ll be honest, it’s one of my favourite questions to discuss.

Because underneath it, what you’re really asking is:
“When do I get to stop worrying?”
“When do I get to breathe?”

And no, the answer isn’t a magic number.
But there is a way to figure it out.

Let’s walk through it together.

What Does Financial Freedom Really Mean?

For some people, it’s quitting a stressful job.
For others, it’s affording childcare, clearing debt, or taking a break without guilt.

So, before we go chasing financial freedom, let’s define it:

• Do you want peace of mind (bills paid, no panic)?
• Do you want flexibility (enough to choose how you spend your time)?
• Or are you after independence (no need to rely on anyone)?

Your version of financial freedom is your compass.
Let’s use it.

5 Steps to Financial Freedom — Your Way

1. Find Your Freedom Number

This isn’t about being rich — it’s about covering what matters.

Start here:

• What are your essential monthly costs?
• What would a “bare minimum” calm life cost you?
• What about your ideal calm life?

Write down:

• Your freedom baseline
• Your dream lifestyle

Now multiply each by 12 — that’s your yearly target.
It doesn’t have to happen overnight. But now you know where you’re going.

Also, play with some numbers using our wealth calculator.

2. Cut What Doesn’t Serve You (Even If It’s Shiny)

Financial freedom isn’t just about adding more — it’s also about removing what drains you.

Ask yourself:

• Is this purchase helping me feel more free… or more stuck?
• Is this subscription, car, or habit costing me peace?

You don’t have to be frugal. Just be intentional.

Every unnecessary “yes” to spending is a silent “no” to your freedom.

3. Start a Freedom Fund (Not Just a Savings Account)

This isn’t emergency savings.
This is your “I’m building something” pot.

Call it your Freedom Fund. Name it. Nurture it.

Put money into it:

• From your side hustle
• From your tax refund
• From anything you don’t immediately need to spend

Even £10 a week adds up. And more importantly, it rewires your focus.

4. Invest for Options, Not Just Returns

Investing isn’t just about growing money — it’s about buying back time later.

Start with tools you understand. And if you’re unsure where to begin?

Explore our Investing Brokers section — we’ve reviewed the best for beginners and long-term thinkers alike, and if you need some coaching on this, reach out to one of the top coaches for bespoke mentoring.

The earlier you start, the more financial freedom you get to enjoy.

5. Check In With Yourself, Not Just Your Bank Account

Money is a tool. But you are the driver.

Ask yourself monthly:

• Do I feel more or less in control this month?
• Have my actions lined up with what freedom looks like to me?
• What’s one thing I can tweak or celebrate?

Sometimes, financial freedom starts with a mindset shift before the numbers shift.

What Financial Freedom Isn’t

Let’s be honest:

• You don’t need £1 million to feel peace.
• You don’t need to retire at 35 to be doing “well.”
• And you definitely don’t need to match anyone else’s idea of success.

Financial freedom is you feeling light in your chest, not heavy in your bank account.

Final Thought from Uncle Abundance

“Financial freedom isn’t about having it all, it’s about having the power to choose, even when life doesn’t play fair.”

Financial freedom starts with a plan. It grows with small, consistent action.
And one day, you’ll look up and realise… you’ve built something solid.

Until next time,
Uncle Abundance
P.S. Always here with the kettle on and a financial truth bomb or two.