OctaFX: 10 tips for becoming financially independent this Independence Day
OctaFX prepared ten tips for saving and increasing your capital ahead of Independence Day.KUALA LUMPUR, MALAYSIA - Media OutReach - 30 August 2022 - What does it mean to be financially independent? It is not only about being able to pay for your bills, groceries, housing, health care—the basic living expenses. Financial independence is also about saving money, not losing it to inflation and unnecessary spending, and increasing your capital over time. Your personal financial system should be sustainable—it should be able to support you even when your main stream of income decreases or disappears entirely.
This Independence Day, OctaFX shares ten most crucial tips for becoming financially independent. Remember that the tips will only work if you develop the habit of applying them. It takes time and effort, but it's worth it.
- Track your spending
- Come up with a realistic budget
- Create an emergency fund
- Pay your bills on time
- Get rid of unnecessary recurring charges
- Pay cash for expensive things (most of them)
- Use credit cards wisely
- Diversify your savings
- Start saving for retirement
- Create an investment strategy
Let's say it again: the tips above will help you create a more independent personal financial system only if adhered to daily. Being independent is not a hobby—it's a lifestyle.
Happy Independence Day!
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OctaFX is a global broker providing online trading services worldwide since 2011. It offers commission-free access to financial markets and a variety of services already utilised by clients from 150 countries who have opened more than 12 million trading accounts. Free educational webinars, articles, and analytical and risk management tools they provide help clients reach their investment goals.
The company is involved in a comprehensive network of charity and humanitarian initiatives, including the improvement of educational infrastructure and short-notice relief projects supporting local communities and small to medium enterprises.
On a side note, OctaFX has also won more than 50 awards since its foundation, including the 2021 'Best Forex Broker Asia' award from Global Banking and Finance Review and the 2021 'Best ECN Broker' award from World Finance.