Columbia, SC (WLTX)- As we celebrate Independence Day, many Americans are still in an uncomfortable financial position. Living paycheck-to-paycheck is still the norm for more than half the families around the country. Celebrate the 4th of July by giving yourself the gift of financial freedom with these 3 steps from Financial Educator Steven Hughes of Know Money Inc.
- Focus On Increasing Your Income - While many financial educators talk about limiting your expenses, it's important to find ways to add more cash to the bottom line. With freelance websites, the ability to run a business from a laptop and iPhone, and the fact that we're in the side hustle generation opens you up to opportunities to make extra money without picking up a part-time job.
- Create A Debt Elimination Plan - Credit card debt is now higher than it was in 2007, its record breaking year. Student loan debt has set records with the average loan amount each college student graduates with. Sort your personal debt by balance and interest rate and use the debt snowball or stack method to destroy it all.
- Save To Invest - You can't save your way to financial freedom. Talk to your favorite financial advisor or educator about ETFs and other stock purchases. If you're interested in investing in stocks, check out Black Market Exchange.
Do you have any successful money tips that have set you free? Tweet us @WLTX or @KnowMoneyInc.