It's no secret that families with adequate funds are better able to afford quality schools, health insurance, and homes in safe neighborhoods – aspirations we all share. United Way is helping hard-working families overcome these struggles to gain financial independence.
This includes assistance with job searches, affordable housing, and access to education about saving money and achieving financial independence.

Benefits of being financially independent:

• Good Credit: Avoid debt as much as possible. But if you have debts be sure to always pay at least the minimum balance on time. Pay more whenever you can; not just to reduce your debt faster, but also to maintain a strong credit rating.
• Lower Interest Rates: No one wants to pay more than they should for anything – whether you’re financing a car or home. When your personal finances are solid, you’ll secure lower rates which may help you save thousands of dollars in the long run.
• Power to Own: Chasing the “American Dream” to own a home, but still renting? Spending within your means helps you to save; you’ll soon gain the purchasing power to buy your own big-ticket items.
• Nest Egg: Setting aside 20 percent of your salary in reserves will help you to weather a financial emergency like losing your job or a health crisis. Resist the urge to spend what you've saved to enjoy home ownership and a stress-free retirement later in life.

Following these tips and living within or below your means will help you reach financial independence, which is something to celebrate!

Happy Independence Day!

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Charlie Boyce is Vice President of Community Impact for Valley of the Sun United Way. He guides United Way’s Community Objective to Increase Financial Stability of Families and Individuals. He oversees delivery of Financial Coaching trainings, the West Valley Volunteer Income Tax Assistance (VITA) Coalition and workforce development partnerships.