The views expressed in Economy Matters are not necessarily those of the Federal Reserve Bank of Atlanta or the Federal Reserve System.
Editor's note: Throughout Economy Matters, "Southeast" refers to the six states that, in whole or in part, make up the Sixth Federal Reserve District: Alabama, Florida, Georgia, Louisiana, Mississippi, and Tennessee.
Financial Tips from the Atlanta Fed: Financial Independence
July is a time to celebrate our nation's independence as well as to ensure your financial independence. Our tips may just help you secure your financial freedom.
- Before signing on the dotted line, understand the pros and cons
of the financial products and services offered by various financial service providers. Evaluating these options in advance may help keep you from facing unexpected debt and fees. - Controlling your debt may assist in building your net worth. Additional debt reduces an individual’s net worth. Interest paid on debt is funds that are foregone for saving and investing.
- Protect your online and financial security by actively checking your credit reports and financial statements for accuracy. Inaccuracies on a credit report may lead to a lower credit score, which may result in a higher cost of lending.