Happy 4th of July! Celebrating America's Birth and the Freedom to Invest for Love

Hey Noyack Community,

As we wind down from the Fourth of July celebrations, let’s reflect on the true meaning of this holiday. Beyond fireworks and barbecues, it’s about remembering the birth of our nation and the principles of freedom, independence, and democracy. These ideals are the foundation of our lives, dreams, and financial futures.

At Noyack, we see a powerful parallel between the personal freedom our forefathers fought for and the financial freedom we strive for today. Just like the patriots of 1776, we aim to help you break free from traditional financial constraints. Long-term, goal-based investing isn’t just about numbers; it’s about creating a life full of love, purpose, and legacy.

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Staying out of Debt🚫💳

Thomas Jefferson wisely advised, “Never spend your money before you have earned it.” Not living within your means leads to debt and financial insecurity, a lesson Jefferson learned too late in his life.

Actionable Idea: Use budgeting apps like Mint or YNAB (You Need a Budget) to track your spending and ensure you’re living within your means.

Tracking Expenses📊

George Washington was meticulous in keeping track of his money. Did you know that he accepted no salary upon his appointment as Commander-in-Chief? Instead, he agreed to be reimbursed his expenses after the war. His fastidious record-keeping helped him become one of the richest men of his times.

Actionable Idea: Start an expense journal or use apps like Expensify to monitor your daily expenditures. Small changes can lead to big savings.

Financial Education 📚💡

John Adams pointed out that, “All the perplexities, confusion, and distress in America arise not from the defects of the Constitution, not from want of honor or virtue, so much as from downright ignorance of the nature of coin, credit, and circulation." Financial literacy remains a cornerstone of financial health, particularly for those navigating the complexities of high earnings and investments.

Actionable Idea: Take advantage of free online financial courses on platforms like Noyack Wealth Club ( launching Fall 2024) but in the meantime, follow us on LinkedIn

Compounded Interest📈➕📉

Most of us remember Benjamin Franklin’s saying, “A penny saved is a penny earned.” He also spoke to the power of compounding interest: "Remember that money is of a prolific generating nature. Money can beget money and its offspring can beget more, and so on."

Actionable Idea: Start investing early and consistently. Consider setting up automatic transfers to a high-yield savings account or investment fund to let your money grow over time. Here is a comprehensive list for you of some of the highest APY’s ; APY stands for Annual Percentage Yield, which is the interest rate earned on a savings or investment account in one year. It's a percentage that takes into account compound interest and the frequency of compounding, which gives a more accurate measure of the return on an investment than simple interest rates.

Top High-Yield Savings Accounts

Note: Annual percentage yields (APYs) shown are as of July 3. Bankrate’s editorial team updates this information weekly. APYs may have changed since they were last updated and may vary by region for some products.

Budgeting and Planning 💰📅

John Hancock, known for his famous signature, also understood the importance of money management. He said, “I find money some way or other goes very fast. But I think I can reflect it has been spent with satisfaction and to my own honour.” Effective budgeting and planning are essential for financial stability and growth.

Actionable Idea: Create a monthly budget that includes fun money and savings. Tools like Excel or Google Sheets can help you visualize and track your spending.

Living Within Your Means🏡💵

Thomas Jefferson’s regretful reflection underscores the importance of living within one’s means: "But I know nothing more important to inculcate into the minds of young people than the wisdom, the honor, and the blessed comfort of living within their income."

Actionable Idea: Challenge yourself to a no-spend month where you only spend on essentials. It’s a great way to reset your spending habits and save extra money.

We might close with another familiar Benjamin Franklin quote, “In this world nothing can be said to be certain, except death and taxes.” But let me assure you that you are certain to always receive sound financial advice from us here at Anahuac National Bank. We remain committed to the families and businesses of our community, here to help you in any stage of your financial life. Let us know how we may help. We thank you for banking with us.

Freedom Through Goal-Based Investing

Achieving financial independence goes beyond hitting numerical targets; it's about the freedom, security, and support those numbers bring. At Noyack, we champion "Investing for Love," a philosophy that redefines investing as a means to build a better future for those we care about. Whether it’s buying a home, sending our kids to college, or ensuring a comfortable retirement, our investments are about achieving what truly matters in life.

Just as our founding fathers sought freedom from tyranny, Noyack aims to liberate you from traditional financial constraints and ignorance. By embracing alternative investments (ALTs), we unlock new possibilities for sustained wealth and greater financial freedom. Our investments serve a higher purpose: providing for our families and securing our futures.

At Noyack, we're here to guide you on this journey with the tools and knowledge to align your financial decisions with your life goals. Join us in celebrating freedom and independence, not just as historical concepts but as integral parts of our financial lives. Together, let's invest in a future where freedom, family, and love go hand in hand.

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