Stock market crashes, inflation, geopolitical conflicts, supply-chain issues, and more can all wreak havoc on the global economy. Financial freedom can be harder to achieve if you’re a person of color, a woman, a member of the LGBTQ+ community, or if you’re disabled-all the more reason for all of us to fight for a more equitable world!Įven when you’re on a promising path, our world is full of volatility that can impact your finances. And, despite some promising steps forward, inequality is still a major barrier. Anyone kicking off their adult life with a bit of help from their parents and a good education has a better chance of achieving the financial freedom they’re striving for than someone without these benefits. No matter where you live, your socioeconomic status can impact your path to financial freedom. For example, urban areas typically have higher paying job opportunities than rural areas do-although they’re also much pricier to live in. Even within countries, location impacts your cost of living, education, and job prospects. The situation is complicated, but it’s important to note that many people are at a financial disadvantage through no fault of their own. People living in the Global North often have an easier path than those in the Global South, where economies can be smaller and less robust. In wealthier countries, a larger number of people have opportunities that lead to greater financial freedom, such as inherited wealth or access to education. But we know all too well that our world is far from perfect, and many factors can get in the way of financial freedom. In a perfect world, everyone would have enough money to stay happy and healthy and avoid financial stress. What gets in the way of financial freedom?
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