The  10 Personal Finance Strategies

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15 September 2022

By : Quick Insurance Guru

It's best to begin financial planning as soon as possible, but it's never too late to set financial objectives to provide for the freedom and security of your family. 

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1. Devise a Budget

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To live within your means and save enough money to achieve your long-term goals, you must have a budget.

2. Create an Emergency Fund 

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Most financial experts advise saving 20% of each salary each month.

3. Limit Debt 

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It sounds easy enough: Don't spend more than you make to prevent debt from getting out of control.

4. Use Credit Cards Wisely 

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Although credit cards can be huge financial traps, it is unrealistic to live without them in the modern world. 

5. Monitor Your Credit Score

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Credit cards are the main vehicle through which your credit score is built and maintained

6. Consider Your Family

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Spend time teaching your young children the importance of money and the proper ways to save, invest, and spend it while they are still young. 

7. Pay off Student Loans

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There are myriad loan repayment plans and payment reduction strategies available to graduates.

8. Plan for Retirement

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Although it may seem like a lifetime away, retirement comes considerably sooner than you might anticipate. 

9. Maximize Tax Breaks

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Many people squander hundreds or even thousands of dollars each year as a result of an unnecessarily complicated tax structure.

10. Give Yourself a Break

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Budgeting and planning can seem full of deprivations. Make sure you reward yourself now and then.

THANKS FOR READING!

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The  10 Personal Finance Strategies