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Strategy To Improve Your Financial Literacy Skills

 

 Create A Budget:

Set yourself up for success by utilizing a budget.  Keep track of your money transactions.  A budget helps you keep track of where your money is going.

Spend Less Than You Earn:

No matter how much or how little you earn, you may find it difficult to get ahead  if you spend more than you make.

Payoff  Your Credit Cards:

Credit card debt is one of the biggest obstacle to improving your finances.

Save and Invest:

Set aside a percentage of your income for short and long-term saving.

Review Your Insurance Coverage:

It is important to have enough insurance to protect your family.

Prepare and Update Your Will:

A will is important to direct where your money goes when you die.

Keeep Good Records:

It will be important comes tax time.

Get Financial Advice:

A financial adviser can help you reach your financial goals.

 

5 Character Traits for Financial Success

1

Awareness

It has never occurred to the average person who they could become. The average person grew up in a family where they were never encouraged to climb as high as they can.
2

Decisiveness

No one becomes financially successful until they decide to. Even if a person reads a book or attends a seminar. Nothing changes until they make a decision to do something different.
3

Action

Procrastination keeps many people from becoming financially successful. People always have a good reason not to begin doing what they know they need to do to achieve financial success.
4

Discipline

If you cannot delay gratification and discipline yourself to refrain from spending more than you earn, you cannot become financially successful.
5

Time Perspective

How far do you project into the future when you make a decision?

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