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 1, 2019

illustration of a set of scales with a hand placing a stack of coins on one side and a tropical island with a plane on the other side

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 consOff-site link 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.Off-site link 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 securityOff-site link 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.