How to Declare Your Financial Independence

Today being July 4^th has me thinking not only about our national Independence Day, but also the personal financial independence that I want each and every one of you to create for yourself.

I know for some of you the notion of financial independence may seem far-fetched as you’re juggling plenty of debt and struggling to keep up with your savings goals.

If that sounds about right, I want you to make one vital move right now: Change your perspective!

Financial independence is not something we snap our fingers and have materialize right then and there. It is the result of a process that we create and then commit to seeing through.

And that process can start at any time. Like today.

My challenge for you is to start thinking about the initial steps you want to take this summer to start working toward your financial independence.

Make it a short list. No more than two or three goals. And honestly, focusing on getting rolling on one goal is great. It’s up to you.

Instead of me telling you what I think are great goals, I want to make this all about you.

The right goal for you to tackle is the one that will bring you a combination of relief and satisfaction.

Relief comes into play when you begin to tackle a financial goal you haven’t been able to stay on top of and that fact gnaws at you. Satisfaction arrives when you are able to jumpstart behaviors that put you on a path to achieving that goal.

No matter how big the goal is, and how long it may take to get to the end line, financial independence is about the journey. Each week and each month are you making choices that move you closer to your goal?

If you want to start saving more, for an emergency fund or retirement, have you managed to spend a little bit less this week so you can add to those savings accounts?

Same goes for a credit card balance that is stressing you out. Are you making choices this week, and next week, and next month that will keep the balance from growing? That likely involves spending a bit less and paying more than the minimum balance due each month.

I recommend writing the goal down and placing it somewhere you will see it daily. This gentle reminder can be all the motivation that’s necessary to stay committed to whatever you’re aiming for.

And then, in the spirit of July 4^th I want you to celebrate at least once a week the fact that you are on your road to financial independence. Again, don’t focus on the end goal. Rather, give yourself credit and a big pat on the back if each week you manage to keep working toward the goal. And hopefully, that moment of recognizing what you have accomplished will be all the motivation you need to go and do it all again the following week. Keep it up and I guarantee Independence Day 2025 is going to arrive with you having made a ton of progress on achieving financial independence.