Personal Finance Topic #180 - Ultimate secrets to YOUR financial success
1. Personal Finance Topic #180 - Ultimate secrets to YOUR
financial success
Shhhh! This is a post with secrets you don't want everyone to know
I'm kidding about the secrecy part, but if everyone followed these concepts, they all can reach a high
level of financial peace that you would not have imagined 20 years ago. So let's get started with the
concepts - and you tell me if this is doable for you.
Ultimate secrets to YOUR financial success
Spend less than you earn - live below your means
Save and pay cash for everything except mortgage (but put at least 20% down)
Don't borrow money - and if you have debts, pay them off starting with the smallest balance first,
then work on the next smallest debt.
Keep up with monthly budget, and stick to it
Have emergency fund of 3 to 6 months in expenses
Buy reliable and economical 3 to 4 year old used cars with cash (millionaires can buy a new car once
in a while with cash)
Don't keep up with the Joneses because they look good on the. Those that need to have extra advice
about the topic of this article, explore used car guide asap.outside, but they are broke on the inside
Stay away from no-interest loan, no payment for 2 years loan, or any loan for that matter.
Go to state schools unless you or your parents are a millionaire
Invest at least 15% of your gross income into tax-advantaged accounts
Buy adequate coverage for your homeowners, auto, medical, disability, and level-term life insurances
to protect your family
Have a will, durable power of attorney, living will, and a willdata form. Funeral directives would be
smart also
Keep appropriate beneficiaries' names on insurance, annuities, and retirement funds (not your ex)
Don't go into a partnership
Have a joint checking account with your spouse
Don't buy something jointly with someone you're not married to
Keep your finances simple so your spouse can easily take over
2. In the event you need significantly more help
and advice concerning the topic of this article,
just go to this article directly.
In time of crisis, have faith, and protect your
family (credit card and unsecured loans are the
last things to pay on your list)
Other sage advice, anyone?
