10 Powerful Ways to Declare Your Financial Independence on July 4th

Although July 4th is known in the US as “Independence Day”, most of us were not included in the Declaration of Independence back in 1776.

As a Black woman in America, I don’t feel any strong connection to the 4th of July. And if you’re anything like me, this day does not inspire a powerful, patriotic urge to celebrate.

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I’ll pass on the sparklers, thanks.

But since it’s a federal holiday and I have the day off from work, I decided to use this day for something meaningful to me: financial independence. Living in a form of capitalism that is built on the white supremacist patriarchy, I’ve realized that financial independence is the greatest form of freedom I can attain.

And so, I have declared the 4th of July to be Financial Independence Day! And I invite you to celebrate with me.

Ways to Celebrate Financial Independence Day

I celebrate by taking steps toward my own financial freedom. This can look like a lot of things, big and small. Here are some ideas to get you started:

1. Elevate Your Financial Literacy

Empower yourself with financial knowledge. Take some time today to research and find online resources, articles, or podcasts on personal finance and wealth-building strategies to start expanding your financial literacy.

2. Create a Vision of Your Financial Future

Visualize your financial goals and dreams. Take a few minutes to jot down your aspirations and create a vision board on paper or digital media, inspiring you to stay focused on your path to financial independence.

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3. Establish a Budget that Aligns with Your Values

Craft a budget that reflects your priorities. Gather your financial information, such as income, expenses, and debts, and start creating a basic budget to align your spending with your financial goals.

4. Diversify Your Income Streams

Explore side hustles or passive income opportunities. Brainstorm potential side gigs or online ventures that align with your skills and interests, setting the stage to boost your income.

5. Increase Your Pay in Your “Day Job”

Research higher-paying roles within your industry. Today, research job openings, salary data, and job market trends to better understand the opportunities available for career advancement.

6. Tackle Debt Strategically

Develop a plan to pay off debts. List your debts, interest rates, and minimum payments. Today, start formulating a debt repayment strategy, focusing on paying off high-interest debts first.

7. Build an Emergency Fund

Establish an emergency fund. Open a separate savings account today and set up automatic transfers to start building your emergency fund gradually. Although July 4th is a bank holiday, you can still get started online through most banking websites.

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8. Invest in Your Future

Review and optimize your investment portfolio. Research investment options or even financial advisors you might like to work with to ensure your investment choices align with your long-term financial objectives.

9. Network and Collaborate

Connect with like-minded individuals. Today, join online communities, financial forums, or social media groups dedicated to personal finance and financial independence.

10. Prioritize Self-Care and Wellness

Invest in your physical and mental well-being. Take time today to engage in activities that promote relaxation and self-care, such as meditation, exercise, or spending quality time with loved ones.

Your Turn

Did any of these options stand out to you? Remember that this list is by no means exhaustive. You can of course consider ideas I haven’t mentioned here.

So how do you plan to celebrate Financial Independence Day this year?

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