he 4th of July is a time to celebrate our Nation’s freedom and independence. Use this Holiday to assess your financial stability and commit yourself toward achieving your own financial independence. Below are 10 tips to help you gain your financial freedom:

1. Write down your financial goals and determine how realistic they are. Make sure to include short, mid, and long term goals.

2. Create and follow a budget that is tailored for you and your family. Be sure to maintain and adhere to your budget.

3. Keep track of all of your income and expenses on a weekly basis.

4. Make a detailed list of what you owe and whom you owe it to.

5. Pay yourself first! Start by setting aside money each week in a savings account.

6. Pay cash! If you don’t have the cash, you probably can’t afford it.

7. Cut your expenses! Eat at home and bring your lunch to work, shop at outlet and wholesale stores, enroll in utility company’s budgeting program, and use community resources.

8. Take advantage of workplace benefits: Use direct deposit, set up a retirement plan, or enroll in a flexible spending account. Ask your HR department about workplace benefits.

9. Organize your financial records for easy reference.

10. Take the online money management certification program

Budgeting and frugal living is the basis of achieving financial freedom. With hard work and determination, you too can celebrate your financial independence!

Tom Palange Education Programs Specialist American Consumer Credit Counseling