Let’s talk about ways for you to control your money instead of letting money control you. Success is about your choices, priorities, values and the development of healthy financial habits. Here are some tips:
1st Live within your means — This sounds so simple, yet so many people spend more than they make and live way beyond their means. Ultimately, this can lead to financial distress rather than success.
2nd Stay connected to your financial picture —Keep track and evaluate what you earn, spend, your debts and your net worth. Cash Flow is key!
3rd Make saving a top priority — in an ideal world-Every paycheck should include a portion going to savings, retirement plan, or investment account—and hopefully all three!
4th Establish goals —and priorities—and how much will it cost? Is it a new car every four years, retiring at 50? Private school? Invest the time to think about your goals, it’s important, it’s your future.
5th Secure your future — Set up an emergency savings fund and prepare for the unexpected such as a lost job, car repairs, etc.
6th Cover yourself — having the right insurance can help protect your finances. Whether it is health homeowners, life, disability or umbrella insurance
Finally— Start today! The earlier you start the more time for growth on your investments. Do not hesitate to seek the advice of a financial advisor who can work with you on the road to a successful financial future.
Answers from AZ