Prioritizing Your Financial Well-being

July marks the halfway point of the year, and perhaps now is a good time to assert some new ideas to carry into the next half of 2023. In the spirit of the July 4th holiday, why not consider issuing your own declaration to make a fresh start towards financial well-being:

I hold these truths to be self-evident, that all persons are endowed with certain unalienable rights, including life, liberty and the pursuit of happiness. I understand that fulfilling these rights requires the wise use of personal and financial resources, based on a balance of financial freedom and financial responsibility. Therefore, I hereby make this personal Declaration of Financial Independence.

Article I I declare my understanding that the ultimate responsibility for my financial well-being is mine alone. I understand that working with and learning from others is valuable, but my ability to provide financially for myself, my family and my future depends primarily on my choices and my actions.

Article II I declare my understanding of the fundamental principle of financial independence: spending less than I earn and investing the difference. I commit to follow that principle in my large and small financial decisions.

Article III I declare my independence from the tyranny of consumer debt. I will use credit judiciously and consistently set aside money for short-term goals like a car, trips, home maintenance, and medical bills.

Article IV I declare my independence from financial ignorance. I pledge to learn the basics of money management, budgeting, economics and investing. I pledge to be aware and conscious of my expenditures and track my spending.

Article V I declare my independence from the emotional pull of destructive money scripts. I pledge to invest time and energy to understand my unconscious beliefs about money and to rescript those that do not serve me well.

Article VI I declare my independence from the trap of measuring my financial and personal success by real or imagined societal standards. I pledge to honor myself by defining what success and financial independence means to me, instead of blindly adhering to the definitions of others.

Article VII I declare my independence from the fear of losing what I have. I pledge to learn and to use appropriate strategies to protect the assets I accumulate.

Article VIII I declare that my health and my career are the most important assets I own and manage. I pledge to invest in my own future by living a healthy lifestyle and by obtaining the education I need to develop my career skills and earning power, and to keep them current.

Article IX I pledge to teach my children, through my guidance and my example, the principles of financial independence.

Article X I declare my understanding that money is powerful and pledge to respect money as a useful and essential life tool. To give it an appropriate place in my life, not regarding the accumulation of wealth as an end in itself, but using money as a valuable resource to help me fulfill my life aspirations.

In full understanding of the importance of prioritizing my own financial well-being, I do hereby solemnly pledge to take action to fulfill this personal Declaration of Financial Independence.

At Biondo Investment Advisors, through the relationships and experience we have with our clients, we understand enjoying your hard-earned money is important for feeling financially independent. Prioritizing your financial well-being and making investments for the future will help you build a more stable and long-lasting foundation for your life and the lives of those you care about. On your path to financial freedom, we pledge to be a dependable source of knowledge, guidance and trust.

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