As we celebrate Independence Day this July, it’s the perfect time to think about a different kind of freedom—freedom from debt. Whether you’re managing credit card balances, personal loans, or just feeling weighed down by your monthly bills, this summer could be the fresh start you need.

At FinancialEdge Credit Union, we believe every member deserves to feel in control of their financial future. If you’re ready to declare your independence from debt, here are five practical steps to help you take charge—and remember, our certified financial counselors are here to guide you every step of the way.

1. Know What You Owe

The first step toward financial freedom is getting a clear picture of your debt. It might feel overwhelming, but listing out each balance, interest rate, and minimum payment can help you take control.

Start simple—create a spreadsheet, use a budget app, or even jot it down on paper. Once everything is in one place, you’ll be better equipped to make a plan.

2. Pick a Payoff Strategy That Keeps You Motivated

There are a couple of tried-and-true methods to tackle debt:

• The Snowball Method: Pay off your smallest debt first while making minimum payments on the rest. Once it’s gone, move to the next smallest. It’s great for staying motivated.
• The Avalanche Method: Focus on your highest-interest debt first. This saves the most money in the long run.

Choose the method that fits your mindset—and your budget. The key is consistency!

3. Consolidate or Refinance Where It Makes Sense

If you’re juggling multiple high-interest payments, consolidating your debt into one lower-rate loan might help you save money and reduce stress.

Look into options like:

• Personal loans
• Credit card balance transfers
• Refinancing existing loans

FinancialEdge can help you explore what makes the most sense for your situation.

4. Cut Back (Without Cutting Out All the Fun)

Small lifestyle changes can free up more money for debt payments—without making you feel deprived. Here are a few ideas:

• Review subscription services and cancel the ones you don’t use.
• Plan no-spend weekends or free activities like beach days, bike rides, or local summer festivals.
• Cook more meals at home or host a potluck instead of dining out.

Every dollar you redirect toward debt brings you closer to freedom.

5. Talk to a Financial Counselor

You don’t have to tackle debt alone. FinancialEdge has certified financial counselors available at both our branch locations. Whether you need help creating a budget, prioritizing debt, or just talking through your situation, we’re here to help—with judgment-free, personalized support.

Give us a call at (989) 892-6088 to set up a free appointment with one of our counselors today.

Take the First Step Toward Financial Freedom

This July, take inspiration from the spirit of independence and start building your own path to financial freedom. With the right plan—and the right support—you can break free from debt and take control of your future.

Call us at (989) 892-6088 or stop into your nearest branch to get started. Your journey to financial independence starts now.

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