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10 Money Goals to Maximize your Wealth
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1. 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
An emergency fund only benefits your financial health.
"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
An emergency fund only benefits your financial health.
2. Develop & Stick to a Budget
To build a budget, you have to:
- Track your income
- Track your expenses
Figure out where your money is:
- Coming from
- Going to (and how much)
To build a budget, you have to:
- Track your income
- Track your expenses
Figure out where your money is:
- Coming from
- Going to (and how much)
3. Eliminate Credit Card Debt
Credit card debt is bad because of:
- High-interest rates
- Potential to damage credit
Credit card debt can drain:
- Your budget
- Your savings
- Your future portfolio
It's time to eliminate all credit card debt.
Credit card debt is bad because of:
- High-interest rates
- Potential to damage credit
Credit card debt can drain:
- Your budget
- Your savings
- Your future portfolio
It's time to eliminate all credit card debt.
4. Educate Yourself on Basic Financial Literacy
Financial literacy teaches you how to:
- Earn
- Save
- Invest
- Spend
- Borrow
- Protect
Improve your financial literacy today.
Start by adopting a winning mindset
https://themillennialmoneywoman.com/poor-vs-rich/
Financial literacy teaches you how to:
- Earn
- Save
- Invest
- Spend
- Borrow
- Protect
Improve your financial literacy today.
Start by adopting a winning mindset
https://themillennialmoneywoman.com/poor-vs-rich/
5. Establish a Solid Credit Score
Benefits of a good credit score:
- Better chance for loan approvals
- Better insurance rates
- Negotiating power
- Lower interest rate
- Bragging rights
- Higher limits
Solid credit score = more money in your wallet.
Benefits of a good credit score:
- Better chance for loan approvals
- Better insurance rates
- Negotiating power
- Lower interest rate
- Bragging rights
- Higher limits
Solid credit score = more money in your wallet.
6. Save for Retirement
The earlier you start:
- Saving
- Investing (consistently)
- Investing in low-cost index funds
The more likely you will:
- See a return on your investment in your future.
The earlier you start:
- Saving
- Investing (consistently)
- Investing in low-cost index funds
The more likely you will:
- See a return on your investment in your future.
7. Understand that Health and Wealth Go Together
Don’t take your health for granted.
Make sure to:
- Exercise regularly
- Stick to healthy foods
- Stay away from caffeine/sugar
You won’t be able to generate high income from a hospital bed.
Don’t take your health for granted.
Make sure to:
- Exercise regularly
- Stick to healthy foods
- Stay away from caffeine/sugar
You won’t be able to generate high income from a hospital bed.
8. Build Additional Income Streams
The wealthy typically never rely on 1 income stream.
Possible examples:
- Royalties
- Their main job
- Rental property income
- Dividends and interest paid
- Second business income stream
Start diversifying today https://themillennialmoneywoman.com/passive-income-ideas/
The wealthy typically never rely on 1 income stream.
Possible examples:
- Royalties
- Their main job
- Rental property income
- Dividends and interest paid
- Second business income stream
Start diversifying today
https://themillennialmoneywoman.com/passive-income-ideas/
9. Pay Yourself First
Society tells you to:
- Spend
- Consume
Instead, use your paycheck to:
- Pay off credit card debt
- Add to your retirement plan
- Add to your investment portfolio
- Add to your emergency savings fund
Never live bigger than your paycheck.
Society tells you to:
- Spend
- Consume
Instead, use your paycheck to:
- Pay off credit card debt
- Add to your retirement plan
- Add to your investment portfolio
- Add to your emergency savings fund
Never live bigger than your paycheck.
10. Stick to a Productive Routine to Build Healthy Habits
Successful habits could include:
- Meditating
- Reading books
- Waking up early
- Eating a healthy breakfast
- Exercising daily for 30 minutes
Implement a healthy habit now.
Consistency will lead to automatic behavior.
Successful habits could include:
- Meditating
- Reading books
- Waking up early
- Eating a healthy breakfast
- Exercising daily for 30 minutes
Implement a healthy habit now.
Consistency will lead to automatic behavior.
Ultimately, you have the power to:
- Change your financial future
- Start the path to financial freedom
- Leave a lasting legacy for your family
The best way to achieve financial success?
By following The MMW today https://themillennialmoneywoman.com/
- Change your financial future
- Start the path to financial freedom
- Leave a lasting legacy for your family
The best way to achieve financial success?
By following The MMW today
https://themillennialmoneywoman.com/
