DAILY MOTIVATION – 5 WEALTH SECRETS YOU NEED TO KNOW!

Gordon Sampson

12d ago in General discussion

Money is really simple.

Reaching Financial Freedom is EASY.

But, yet, HARD to do….

There’re only 5 things to do to win 100% of the time.

Let’s break it down for you:

𝟏. 𝐋𝐢𝐯𝐞 𝐨𝐧 𝐋𝐞𝐬𝐬 𝐓𝐡𝐚𝐧 𝐘𝐨𝐮 𝐌𝐚𝐤𝐞:

"Living on less than you make" means spending less than your income and saving the rest. This can help you build wealth, achieve financial goals, and avoid debt.

Too many people simply “hand over their salary” to debtors – DON’T be one of them!

𝟐. 𝐒𝐭𝐢𝐜𝐤 𝐭𝐨 𝐚 𝐖𝐫𝐢𝐭𝐭𝐞𝐧 𝐏𝐥𝐚𝐧 - 𝐚 𝐁𝐮𝐝𝐠𝐞𝐭:

Whether you’re saving for a fancy car or saving for a foreign vacation, Every Rand makes it so easy to plan for it all. Customize your budget with unlimited categories!

𝟑. 𝐏𝐚𝐲 𝐨𝐟𝐟 𝐚𝐥𝐥 𝐃𝐞𝐛𝐭 (𝐄𝐱𝐜𝐞𝐩𝐭 𝐭𝐡𝐞 𝐇𝐨𝐮𝐬𝐞) 𝐔𝐬𝐢𝐧𝐠 𝐭𝐡𝐞 𝐃𝐞𝐛𝐭 𝐒𝐧𝐨𝐰𝐛𝐚𝐥𝐥:

Next, it’s time to pay off the cars, the credit cards and the student loans. Start by listing all of your debts except for your mortgage. Put them in order by balance from smallest to largest—regardless of interest rate. Pay minimum payments on everything but the little one. Attack that one with a vengeance. Once it's gone, take that payment and put it toward the second-smallest debt, making minimum payments on the rest. That's what's called the debt snowball method, and you’ll use it to knock out your debts one by one. Find out your debt-free date with the Debt Snowball Calculator.

𝟒. 𝐒𝐚𝐯𝐞 𝐚𝐧𝐝 𝐈𝐧𝐯𝐞𝐬𝐭 𝐌𝐨𝐧𝐞𝐲:

Understanding the difference between saving and investing is essential to ensure financial security and a bright future. Though these terms are sometimes used interchangeably, it is important to note that they are very different. Both Savings and Investing are critical elements of personal finance, and starting early is a great way to set oneself up for long-term financial stability.

𝟓. 𝐅𝐢𝐧𝐚𝐥𝐥𝐲, 𝐛𝐞 𝐆𝐄𝐍𝐄𝐑𝐎𝐔𝐒:

Being generous means giving to others freely and abundantly, especially when it's more than what's usual or expected. It's a virtue that involves both attitude and action, and is often considered to be unselfish.

Generosity can involve giving many things, including: money, possessions, time, attention, aid, encouragement, emotional availability, and kindness.

Watch the video here: Click Here

Who is Dave Ramsey and why should you listen to his advice?

More than 25 years ago, Dave Ramsey fought his way out of bankruptcy and millions of dollars of debt. He took what he learned and started teaching people God's and Grandma's ways of handling money. Since then, Dave has helped nearly 10 million people take control of their money for good. Today, The Ramsey Show, formerly known as The Dave Ramsey Show, reaches more than 18 million listeners every week on the Ramsey Network radio show and podcast.

Ramsey has written several books, including The New York Times bestseller: The Total Money Makeover.

Here’s to YOUR Financial Freedom – One Step as a Time!

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