July: Declaration of Financial Independence Month

Written by Chris Cullen on 7/18/2024

When most Americans think of July, Independence Day comes to mind immediately. We use the 4th of July to commemorate the signing of the Declaration of Independence, but the Revolutionary War wasn’t declared until the 8th and independence was not won for 7 years after that, so maybe the days are less important than the month itself.

Let’s say July is Independence Month.

Historically, in France, the French Revolution of the working class began with the fall of the Bastille in July.  In Russia, an insurgency took place that is called the July Days, during which workers and soldiers staged armed demonstrations. In Cuba, the revolutionary 26th of July Movement in 1959, was a rebellion to drive out a dictator (only to be replaced by another).

Nelson Mandela was born the son of a Tembu tribal chieftain on July 18, at Qunu, near Umtata, in South Africa, and "The Liberator" Simon Bolivar was born on July 24th in Caracas, Venezuela. He is known as the George Washington of South America for his efforts to liberate six nations: Venezuela, Colombia, Panama, Ecuador, Peru, and Bolivia from the rule of Spain. A community in Baltimore has a life-size bronze bust of Simón Bolivar.

July is a month of historical change makers taking charge of their future, and of working to achieve independence. Not just political independence but freedom from outside control and support.

This is an important concept for us at MarylandSaves, because our program was designed to give the workers of Maryland the opportunity to control their own financial future and to limit their need for outside support.

MarylandSaves is a state-sponsored retirement savings program that was created to offer more than 1 million Maryland workers that do not currently have a way to save for retirement at work a pathway to future financial independence.  The concept goes beyond just saving enough money, financial independence affords freedom to pursue personal goals.

Maybe it’s the heat that sows so much discontent in July, drives people to their boiling point and inspires their dreams to make change, or maybe it’s the stars. The Zodiac sign Cancer is in July, represented by a content and happy crab, but then followed by Leo, which is represented by a lion, bent on leadership and loyalty.

In any case, July is as good a month as any to take stock of your financial situation and make the changes you need for your financial independence and freedom.