Hungary international Bogdan, who missed a large chunk of this season through a knee injury, has a further year to run on his contract.
Freedman has acknowledged that handing Bogdan a new contract is something that merits serious consideration.
However, Freedman is also aware that he is working on a tight budget at Bolton and must decide if he can afford to give the 26-year-old an extended deal.
"Adam is someone who has been playing very well and enjoying his football, he's definitely someone who we have got an eye on extending the contract," Freedman told The Bolton News.
"But as you know, I have also got to have an eye on the budget. That is where we are - I need to find that balance.
"I need to look at the money we have got and wonder whether to take that risk, or secure the asset to try and sell it, or to build it. There are many, many things to take into consideration.
"But we definitely appreciate Adam at this football club."