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It's fair to say most, if not all, adults aspire to becoming financially free. For some, financial freedom may mean buying a home, starting a business, or traveling the world. For others, it's simply being able to afford the basic necessities without constantly stressing about money.
According to a recent Experian survey, 54% of Americans define financial freedom as not having debt. Another 33% define financial freedom as having a substantial emergency fund, while 33% of U.S. adults feel it means having the ability to pay their current bills for six months without worry. It's a powerful reminder of the impact that debt and our personal finances can have on our lives.
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