80. Declaration of Financial Independence

In this podcast episode, host Laura Sexton discusses the significance of Independence Day in the United States and draws parallels between the principles of the Declaration of Independence and personal financial freedom. Emphasizing the importance of breaking free from oppressive financial systems like high-interest credit card debt, the host encourages listeners to take control of their financial futures, much like the American colonies sought independence from British rule.

In this episode we’ll:

.     compare the Declaration of Independence and Financial Freedom

.     critique the use of Credit Card Debt

.     exercise the pursuit of Financial Autonomy

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Transcript

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Laura 0:02

Hello and welcome to the Accelerate Your Legacy podcast. I'm Laura Sexton, your trusted financial coach and money mindset specialist. Join me as we explore the world of money and money mindset while also paving the way for a lasting legacy that extends far beyond money. Together we'll eliminate stress, amplify freedom, and ensure you stop paying for your past so you can start saving for your future. If you're seeking peace in your finances, more margin in your budget, and a legacy that inspires generations to come, you're in the right place. Hey, Accelerators. As much as I want to sing Martina McBride's Independence Day to you, I won't assault your ears that way. That would not be kind of me. But I do want to talk about the fact that today is the 4th of July. It's a big day here in America. It is a day where we talk about freedom. And our rights as American citizens and what a privilege it is to be an American. There's one line in the declaration of independence that I get really excited by, and it says "a Prince whose character is thus marked by every act, which may define a tyrant is unfit to be the ruler of a free people." The definition of a tyrant is a cruel and oppressive ruler or a person executing power or control in a cruel, unreasonable, or arbitrary way, a ruler who sees power without legal right. Now, your credit card company has a legal right to charge you 26 to 36 percent interest because you signed up for it, but boy, does that feel oppressive and cruel. You are a free people and you do not deserve to be ruled. By a tyrant, and in fact, I would love for you to rule yourself. I would love for you to be the 1 in charge of what happens to your money and not have anybody else telling you what you can and cannot do with that. Of course, that does exclude the international revenue service. Our Declaration of Independence, which was ratified on July 4th, 1776 says "when the course of human events, it becomes necessary for 1 people to dissolve the political bands, which have connected them with another, and to assume among the powers of the earth, the separate and equal station to which we To which the laws of nature and of nature's God entitled them a decent respect to the opinions of mankind requires that they should declare the causes which impel them to the separation." The separation of you with your credit card, the cause there is that they're stealing from your future. Now, we may have political bands that have connected us. Yes, I signed a piece of paper that said I would pay you. So, guess what? We are going to do the due diligence on our part. We are going to pay what we owe to the credit card company, but then we are going to disband and we are no longer going to be bound to someone that is stealing. From our future, from our children's future, and from the legacy that we wish to leave. The next part of the constitution says "we hold these truths to be self evident, that all men are created equal, that they are endowed by their creator with certain unalienable rights, that among these are life, liberty, and the pursuit of happiness." Please know that when this was pinned, they really wanted to put property. Life, liberty and property that we have the right to own property, but that doesn't really work with liberty too much. Who owns it? How do you own it? How does it get passed down? Do we sell it? Do you just get it when you, there's a lot of questions. So, instead of that, we get the pursuit of happiness. We do not have the right to be happy. We have the right to pursue happiness. However, that looks like to us and what it does not look like to me is having to pay a credit card company. I don't know if you're getting the gist here. I am talking about the Declaration of Independence, and I am hoping that you declare independence from your credit card company because you do not need a credit score. You do not need to worship at the altar of the great FICO. I love when Dave Ramsey says that. It always makes me laugh, and I feel like when I say it, people look at me like I'm a little bit crazy, like I have three heads, and that's fine. I no longer care what my FICO score says. I only care what my net worth is, and what kind of legacy I'm leaving to my children. Back to the Constitution, "that to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed, that whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it and to institute new governments laying its foundation on such principles and organizing its powers in such form as to them shall seem most likely to affect their safety and happiness." My friends, are you hearing this right now? When the ends become destructive. When we are being overrun by the financial institutions that are just trying to be oppressive and hold us down and having us run the race of you need a credit score so you can get more debt so you can have a better credit score so you can get more debt so you can have a better credit score so you can have more debt so you can pay the banks and stay in this cycle forever and never have ownership over anything. These are destructive ends and now it is the right of the people to alter and abolish it and institute something new. What is the new? What is the new foundation that we are laying? What are the principles that we are laying down? 1 of the principles is that we are never going into debt again. We are going to find new ways. We are going to have cash on hand. We are going to do new things set a new foundation on to which we live our lives. Back to the constitution. "Prudence and deed will dictate that governments long established should not be changed for light and transition causes." This is not, we don't do this because it's fun. We don't do this because it was a small grievance. No, no, no. It was a big one. "Accordingly, all experience hath shown that mankind are more disposed to suffer while evils are sufferable, than to write themselves by abolishing the forms to which they're accustomed." Ugh. Did you hear that? We're more likely to suffer because we understand what the suffering is. We know what it feels like to be treated poorly by the credit card company, so we're not gonna change because we're comfortable. It may be insufferable, but we are comfortable in the discomfort and the discomfort that I know is better than the unknown of having to go out there and rely only on myself instead of relying on the credit card company and their line of credit to sustain me. Back to the Constitution, when a long train of abuses and usurpations pursuing invariably the same object, events is a design to reduce them under the absolute despotism. It is their right. It is their duty to throw off such government and to provide new guards for their future security." A couple of weeks. I'm going to be talking about what happens when we struggle and then have to bounce back. Let's talk about the new guards that we're putting in for security. That's talking about emergency funds. It's talking about insurances. It's talking about the things that we can do to secure ourselves. Back to the Constitution. "Such has been the patient sufferance of these colonies and such is now the necessity. Which constrains them to alter their former systems of government. The history of the present King of great Britain is a history of repeated injuries and usurpations, all having indirect object, the establishment of an absolute tyranny over these states. To prove this, let facts be submitted to a candid world." I am going to stop there, my friends. I'm not going to read the entire Declaration of Independence, but it is so good. We go through and we list out our grievances and we list out why it is we're choosing the discomfort of having to govern ourselves. It was not easy to choose to govern ourselves. If you can look at what government looks like today, it is not easy to govern ourselves. Sometimes it's terrifying, but we have the ability friends to make a new system for ourselves. We do not have to stay in the FICO rhythm of things. We can be free. Free to rule our own lives and set our own boundaries. Maybe it's a Liberty loving Texan inside of me. I don't know, but this was a fun one today. All right, accelerators. I hope that I did not take up too much of your time here on the 4th of July. I hope you're spending it with your loved ones. You were celebrating your rights as an American. If you're not an American, set off some fireworks anyway. We are thankful to have you in this world. We are thankful to be a part of each other's lives. You know what it is, accelerators. I'm thankful and I'm proud to be an American. Go out and make a difference. Thank you for investing your time with us today on the Accelerate Your Legacy podcast. Remember, your legacy isn't just measured in dollars and cents, but in the tools, habits, mindset, and reputation you leave behind. Don't just listen to the show, but take action on what you've learned. Share this wisdom with a friend who can benefit and help us spread the word by rating and reviewing the podcast. For questions or encouragement, reach out to me on Instagram at Accelerate Your Legacy or explore the resources listed in the show notes. I will be back with you next week. Until then, build your legacy with intention.