Business Daily Media

Men's Weekly

.

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.

  1. Track your spending
      2. Start by learning your financial inflow and outflow. It might be hard to keep your daily purchases in your head or on a piece of paper, so if your banking app does not do that automatically, install one of the expense tracker apps.

      1. Come up with a realistic budget
      Next, craft a realistic budget that fits your lifestyle. Doing so is not about cutting back on spending: if you are accustomed to having coffee every morning, cutting it out from the budget won't work. Instead, try to plan ahead what you are going to spend your money on.

      1. Create an emergency fund
      Creating an emergency fund will help you deal with unforeseen circumstances without borrowing money with interest or selling your things to get out of the situation urgently. Putting aside 1 USD a day will give 30 USD more to your account at the end of the month.

      1. Pay your bills on time
      Tracking your monthly bills is actually a part of your budgeting plan. Paying your bills on time is an easy way to manage your spending and avoid fees.

      1. Get rid of unnecessary recurring charges
      If you have ever signed up for a free trial to a streaming service, you might have recurring charges you have forgotten about. Check your credit card statements and ensure you don't pay for something you can live without. Unsubscribe and put that money aside for your emergency fund!

      1. Pay cash for expensive things (most of them)
      Loans help you with major life purchases like a house or a car. For other big purchases, say a 65" TV, cash is often the best way to go as it saves you the monthly interest payment you would otherwise have to pay.

      1. Use credit cards wisely
      Most credit cards nowadays come with a free annual fee, and promotional offers could sometimes be beneficial. However, be sure your repayments are on time, keep your credit card limit for tight situations, and repay purchases within a month to avoid additional fees.

      1. Diversify your savings
      To protect your savings from inflation and other negative market factors, try diversifying them with different currencies, precious metals, and real estate income (earned from renting out a property). This will make your portfolio more resilient.

      1. Start saving for retirement
      Regardless of your age, start saving for old age—the younger you are, the more you will get. Set up a separate fund or term deposit to ensure you don't access the funds for purposes other than savings.

      1. Create an investment strategy
      Choose wisely. There are many forms of investment: some are more easily accessible, while others are more complex. However, even a small contribution to your investment is a potential for additional income and financial independence.

      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!

      Hashtag: #OctaFX

      The issuer is solely responsible for the content of this announcement.

      About 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.

    News from Asia

    Dusit International expands across the lodging spectrum, launches ninth hotel brand – Dusit Hotels

    Refined upper-upscale brand is tailored for 120–300 key properties in prime urban and resort locations, delivering market-relevant experiences enriched by Dusit’s signature Thai-inspired gracious...

    Cushman & Wakefield Takes Gold, Silver and Bronze Prizes at Phoenix Tree Marketing Awards 2025

    HONG KONG SAR - Media OutReach Newswire - 14 July 2025 - Cushman & Wakefield, a leading global real estate services firm, has won the Gold Prize in the Integrated Marketing category at the 1...

    "Eternal City" Pompeii Exhibition Opens in Hunan, Marking New Sino-Italian Cultural Exchange

    CHANGSHA, CHINA - Media OutReach Newswire - 11 July 2025 - On July 8, the exhibition "Encountering Pompeii: The Eternal City" opened at the Hunan Museum's Special Exhibition Hall 1. It is jointly ...

    Anhui Unveils Teaser for 2025 World Manufacturing Convention, Extending a Global Invitation to Innovate Together

    HEFEI, CHINA - Media OutReach Newswire - 11 July 2025 - On July 10, Anhui officially released the teaser for the upcoming 2025 World Manufacturing Convention, setting the stage for this premier ga...

    Shenzhen hosts first promotion event for 2025 Global AI Machines and Electronics Expo

    SHENZHEN, CHINA - Media OutReach Newswire - 14 July 2025 - The inaugural promotion event for the 2025 Global Artificial Intelligence Machines and Electronics Expo (AIE) was held in Shenzhen, a ...

    Meey Group Hosts the 'Proptech Capitalization Strategy Forum: Born in Vietnam - Build for the World'

    Affirming Its Pioneering Role in Realising Vietnam’s National Digital Asset Policy Over 20 investment fund leaders and 20 top companies in attendance...

    Datumstruct Enhances Singapore Experience Centre for Command Centre Technology

    SINGAPORE - Media OutReach Newswire - 15 July 2025 - Datumstruct, a provider of critical facilities solutions across Asia, has announced the revamp of its Singapore experience centre (XC 2.0)...

    VinFast Advances Ecosystem Strategy in Philippines’ EV Catch-Up

    MANILA, PHILIPPINES - Media OutReach Newswire - 15 July 2025 - With nearly 19,000 electric vehicles sold in 2024, the Philippines is looking to catch up in Southeast Asia’s EV race as ecosystem pl...

    Rising AI-Driven Cyber Attacks and Geopolitical Tensions Shaping Asia Pacific Cyber Risk Landscape, Aon study

    SINGAPORE - Media OutReach Newswire - 15 July 2025 - Aon plc (NYSE: AON), a leading global professional services firm, has released the Asia Pacific (APAC) findings from its 2025 Cyber Risk Repor...

    Far East Hospitality Strengthens its Presence in Japan with Two New Hotels in Osaka

    Group enters Osaka with two Far East Village Hotels in Namba South and Honmachi districts, reinforcing its commitment to double its footprint to 2000 rooms in Japan. SINGAPORE - Media OutReach New...

    How to ensure your manufacturing business survives international tariff turmoil

    Optimising your operations in FY2026 will help you combat the challenges of a volatile trading environment. Up, down, in out…Since the commence...

    Why Apptio is Enhancing Visibility into AI and Hybrid Cloud

    AI investments have become a strategic priority for business with the mindset that if you're not using AI, you're falling behind. But according to...

    Beyond borders: Building a scalable strategy for international hiring

    For many Australian businesses, growth increasingly depends on thinking beyond local borders.  As wage pressures rise, and specialised talent pool...

    The Next Generation of Maritime Sustainable Solutions

    As organizations globally seek innovative ways to improve sustainability and their impact on Earth, the American Waterways Operators (AWO), a lead...

    Demand for Home Batteries surges as Federal Rebate Kicks In

    A leading provider of energy solutions VoltX Energy has seen a 400% increase in demand for home batteries in the past three weeks as people put d...

    Why Sport Remains the Safest Bet in an Uncertain World

    When Rome was in crisis, its leaders did not retreat to the Senate. They went to the circus. To the chariot races. To the gladiators. Sport was no...

    Sell by LayBy