Financial Independence Day!

The 4th of July weekend was a great reminder to me that there is no better time to seek financial independence than today. Yes, I know that unemployment is at 14% and many folks are having a hard time just making ends meet. However, there are 86% of the population still working!!

So, why do I bring this all up? Well after reflecting on the holiday and the time with family and friends, my wife and I both realized that there are so many things to do around the valley that don’t cost a lot of money. (More on that in a later Blog post. Please share your favorites with me by sending a message to me at AskGene@roguefcu.org.) In addition, with so many folks struggling due to the economy there is no longer a need to keep up with the “Jones.” In fact, it is time for just the opposite. It is time to rethink what is important in our lives and get back to enjoying the simple things. It is time to leverage a challenging time for a better future!

What is financial independence? It is the opportunity to pursue your life’s ambitions absent of the chains of financial obligations. While many of us will never eliminate debt, we can manage it and use it to our advantage. Debt used effectively is powerful… debt used inappropriately is an overwhelming restraint. Many of us became accustomed to a lifestyle fueled by debt and now that burden has overwhelmed folks from all segments of our society.

For someone who runs an organization where our income is dependent on folks getting in debt these are blasphemous words in many circles! However, we only make the money needed to pay competitive rates on deposits and low fees if folks repay their obligations. Our goal has always been to promote the wise use of thrift. Now is the best time in recent memory to reconsider what that is. Fortunately, I get to work for an organization whose sole purpose is to help folks work together to make a better life. We are dedicated to helping folks realize their dreams, not endure a life overwhelmed by debt.

There are a variety of ways that you can pursue financial independence. Over the next couple of weeks I will share with you some of my thoughts on how you might be able to achieve what is an elusive goal for many. Next blog we will discuss how it all starts with a plan…