10 Financial Strategies to Maximize your Wealth
10 Financial Strategies to Maximize your Wealth
1. Educate Yourself on Basic Financial Literacy
In 2019, lack of financial literacy cost Americans more than $307 billion.
Financial literacy teaches you how to:
- Earn
- Save
- Invest
- Spend
- Borrow
- Protect
Improve your financial literacy today. Save money tomorrow.
2. Build an Emergency Savings Fund
63% of Americans cannot afford a $500 emergency.
They would have to resort to:
- Using credit cards
- Using debt to pay debt
- Using other high-interest debt
Pro Tip:
Use a high-interest savings account for your emergency fund.
3. Build a Solid Credit Score
Benefits:
- Better chance for loan approvals
- Better insurance rates
- Lower interest rate
How to boost your credit score:
- Pay on time
- Pay off your debt
- Keep a low credit utilization ratio
Good credit score = more money in your wallet.
4. Build Healthy Habits
Successful habits could include:
- Frugality
- Positivity
- Networking
- Setting goals
- Taking action
- Reading books
- Waking up early
It takes around 66 days for a new behavior to become a habit.
Take the steps today to make a better tomorrow.
5. Develop & Stick to a Budget
To build a budget, start by:
- Tracking your income
- Tracking your expenses
Figure out where your money is:
- Coming from
- Going to (and how much)
Manage money before it manages you.
6. Pay Yourself First
Society tells you to:
- Spend
- Consume
Instead, use your paycheck to:
- Pay off credit debt
- Invest for your retirement
- Add to your emergency fund
- Add to your investment portfolio
Never live bigger than your paycheck.
That's financial suicide.
7. Eliminate Credit Card Debt
Credit card debt is bad because of:
- High-interest rates
- Could damage credit score
Credit card debt can drain:
- Your budget
- Your savings
- Your future portfolio
You rob your future self with credit card debt.
8. Save for Retirement
Use the power of compound interest to your advantage.
The earlier you start:
- Saving
- Investing
- Paying yourself first
...The more likely you will see a return on your investment.
Build your tomorrow starting today.
1. Educate Yourself on Basic Financial Literacy
In 2019, lack of financial literacy cost Americans more than $307 billion.
Financial literacy teaches you how to:
- Earn
- Save
- Invest
- Spend
- Borrow
- Protect
Improve your financial literacy today. Save money tomorrow.
2. Build an Emergency Savings Fund
63% of Americans cannot afford a $500 emergency.
They would have to resort to:
- Using credit cards
- Using debt to pay debt
- Using other high-interest debt
Pro Tip:
Use a high-interest savings account for your emergency fund.
3. Build a Solid Credit Score
Benefits:
- Better chance for loan approvals
- Better insurance rates
- Lower interest rate
How to boost your credit score:
- Pay on time
- Pay off your debt
- Keep a low credit utilization ratio
Good credit score = more money in your wallet.
4. Build Healthy Habits
Successful habits could include:
- Frugality
- Positivity
- Networking
- Setting goals
- Taking action
- Reading books
- Waking up early
It takes around 66 days for a new behavior to become a habit.
Take the steps today to make a better tomorrow.
5. Develop & Stick to a Budget
To build a budget, start by:
- Tracking your income
- Tracking your expenses
Figure out where your money is:
- Coming from
- Going to (and how much)
Manage money before it manages you.
6. Pay Yourself First
Society tells you to:
- Spend
- Consume
Instead, use your paycheck to:
- Pay off credit debt
- Invest for your retirement
- Add to your emergency fund
- Add to your investment portfolio
Never live bigger than your paycheck.
That's financial suicide.
7. Eliminate Credit Card Debt
Credit card debt is bad because of:
- High-interest rates
- Could damage credit score
Credit card debt can drain:
- Your budget
- Your savings
- Your future portfolio
You rob your future self with credit card debt.
8. Save for Retirement
Use the power of compound interest to your advantage.
The earlier you start:
- Saving
- Investing
- Paying yourself first
...The more likely you will see a return on your investment.
Build your tomorrow starting today.
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