5 Obstacles You Can Expect on Your Journey to Financial Freedom

By Denise Hill

The road to financial freedom is paved with good intentions — and littered with skid marks from those who started out, but opted for an easier path. It can be a lonely, winding road that has potholes, roadblocks, and detours. The best way to ensure any journey is successful is to properly prepare.

Here are a few pitfalls you can expect to run into on your way to financial freedom, and what you can do to cope.

1. You'll get tired

Living a life of frugality can be exhausting. Always pinching pennies, weighing options, tracking expenses, and telling yourself "no" can get old quick. Your ability to remain on the financial straight and narrow is directly proportional to your level of tolerance.

Some people can go months without new clothes, drive the same hoopty for years, take one vacation every decade, and be perfectly happy. Others cannot. Find a pace and intensity that fits your personality and level of discipline. Give yourself the wiggle room you need to succeed.

A great way to combat the fatigue that will pop up along your journey is to take breaks. Allow yourself the opportunity to relax and enjoy the view from time to time. Set financial goals that secure your future, but also keep you happy.

Plan to take a vacation, save up for a mini shopping spree, and blow a little cash every once in a while just hanging with friends. The key is to pace yourself. This journey is a marathon. (See also: Yes, You Need "Fun Money" in Your Budget)

2. You'll feel lonely

Forging a path toward financial freedom goes against the grain of our current society. You are bombarded with messages that tell you that you deserve the best no matter the cost. You are worth it. And you only live once, so you might as well live it up now. You are encouraged to indulge yourself.

Living a lifestyle contrary to the popular consensus can be extremely lonely. It can be hard to find people who support your money management value system. And not having someone you can talk to and who understands the dilemmas that come with financial freedom can leave you feeling isolated. You may even find yourself tempted to abort your mission and follow the crowd.

Before you give up and join the ranks of the financially irresponsible, consider this — you are not alone. There are others like you out there. If you're surrounded by those who do not share your passion for financial independence, you must look for those who do.

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