The average person never receives a proper financial education when it comes to succeeding with personal finance. Understanding that, how in the world will you find success when it comes to your own financial abundance when you've never been taught all the correct financial principles?
Whenever you see someone struggling to keep their personal finances together, it's because they haven't followed the steps that lead to success. Don't feel bad if this has just described you and your life to this point. You can turn all this around by simply following the next couple of keys that lead to prosperity. It really isn't all that hard. It just takes a little dedication to your future happiness.
The very first strategy you must understand is the importance of paying yourself first. Don't you always find a way to get your rent or mortgage paid each month? You put food on the table and make sure your kids have clothes to wear, right? But you don't pay yourself first. You must start doing this. Don't make the mistake of counting on your job or the government to help you retire. In this new day and age, most of us are on our own.
So, pay yourself first. Every single month, set aside a part of your income toward your future. Don't use the excuse that you have nothing left to work with. You don't tell your mortgage company this excuse, so why are you telling your future self this?
If things are really tight at the moment, there are companies that will allow you to start investing into an IRA for as little as $25 a month. If things are so tight that even $25 is too much, then you have some serious life choices ahead of you, such as discovering ways to increase your income stream.
You'll also want to put a little away into an emergency account so you can eventually lay off the credit cards. Which leads into the second personal finance rule. Right away, make sure you make getting out of debt a huge priority for yourself. Debt is financial cancer. There's no other way to say it. You must make it a priority to pay off all debts and then stay out of debt.
If you want financial abundance, you need to change your mindset when it comes to debt. Our society has become one that accepts debt without question. This must change for you and fast. It's not all right to go buy that big screen TV on credit just because you don't have the discipline to save for it first.
Think of debt as the way that you rob your future self of life, liberty and happiness. Yes, it's that important. Unless you want to never retire, work until your dying day and become a bitter person looking back, develop a plan to get out of debt today.
Whenever you see someone struggling to keep their personal finances together, it's because they haven't followed the steps that lead to success. Don't feel bad if this has just described you and your life to this point. You can turn all this around by simply following the next couple of keys that lead to prosperity. It really isn't all that hard. It just takes a little dedication to your future happiness.
The very first strategy you must understand is the importance of paying yourself first. Don't you always find a way to get your rent or mortgage paid each month? You put food on the table and make sure your kids have clothes to wear, right? But you don't pay yourself first. You must start doing this. Don't make the mistake of counting on your job or the government to help you retire. In this new day and age, most of us are on our own.
So, pay yourself first. Every single month, set aside a part of your income toward your future. Don't use the excuse that you have nothing left to work with. You don't tell your mortgage company this excuse, so why are you telling your future self this?
If things are really tight at the moment, there are companies that will allow you to start investing into an IRA for as little as $25 a month. If things are so tight that even $25 is too much, then you have some serious life choices ahead of you, such as discovering ways to increase your income stream.
You'll also want to put a little away into an emergency account so you can eventually lay off the credit cards. Which leads into the second personal finance rule. Right away, make sure you make getting out of debt a huge priority for yourself. Debt is financial cancer. There's no other way to say it. You must make it a priority to pay off all debts and then stay out of debt.
If you want financial abundance, you need to change your mindset when it comes to debt. Our society has become one that accepts debt without question. This must change for you and fast. It's not all right to go buy that big screen TV on credit just because you don't have the discipline to save for it first.
Think of debt as the way that you rob your future self of life, liberty and happiness. Yes, it's that important. Unless you want to never retire, work until your dying day and become a bitter person looking back, develop a plan to get out of debt today.
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Matt Zavadil: Take the two keys to financial success you've just learned and make getting out of debt your top priority at this time in your life. Once you finally get out of debt, then use those old payments to pay yourself first and fund your retirement.
(ArticlesBase SC #3319847)
Article Source: http://www.articlesbase.com/ - 2 Highly Effective Financial Abundance Principles
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