Prioritize these actions, and you will accumulate wealth over the next 5β10 years:
β’ Emergency fund
Only 37% of Americans can afford a $500 emergency.
Your financial stability may be at risk if you don't keep some cash on hand.
The lack of an emergency fund leads people to take out loans or even use their retirement savings.
Always keep some cash.
Only 37% of Americans can afford a $500 emergency.
Your financial stability may be at risk if you don't keep some cash on hand.
The lack of an emergency fund leads people to take out loans or even use their retirement savings.
Always keep some cash.
β’ Keep track of your accounts
Many people have accounts that they still maintain but that they no longer use.
Regularly reviewing your account statements is an example of sound money management.
This makes it easier to spot canceled subscriptions and erroneous charges.
Many people have accounts that they still maintain but that they no longer use.
Regularly reviewing your account statements is an example of sound money management.
This makes it easier to spot canceled subscriptions and erroneous charges.
A tool that I use to track my finances and all my investments is :
@snowballtracker
You can check it out : snowball-analytics.com
@snowballtracker
You can check it out : snowball-analytics.com
@snowballtracker β’ Budget
A budget is an essential component of achieving financial success.
You could avoid dipping into your savings by being aware of what is coming in and going out.
It is a tool that helps you find areas where you need to reduce excessive spending and invest more money.
A budget is an essential component of achieving financial success.
You could avoid dipping into your savings by being aware of what is coming in and going out.
It is a tool that helps you find areas where you need to reduce excessive spending and invest more money.
@snowballtracker β’ Plan ahead for purchases
Impulsive purchases result in the failure of any financial planning.
It can lead to debt and problems managing your finances.
Planning your vacations and large purchases will help you stay on track to reach your financial objectives.
Impulsive purchases result in the failure of any financial planning.
It can lead to debt and problems managing your finances.
Planning your vacations and large purchases will help you stay on track to reach your financial objectives.
@snowballtracker β’ Living within your means
Always acquire what you can afford to better your financial situation.
If you are unable to make a monthly payment, using a credit card may not be a smart solution.
It is wise to avoid spending or borrowing money if you cannot afford it.
Always acquire what you can afford to better your financial situation.
If you are unable to make a monthly payment, using a credit card may not be a smart solution.
It is wise to avoid spending or borrowing money if you cannot afford it.
@snowballtracker β’ Pay your bills on time
It is a sign that you have a budget that works and that you take your finances seriously.
Being late on your monthly bills can be costly with a lot of fees.
Paying your bills on time means that you won't live paycheck to paycheck.
It is a sign that you have a budget that works and that you take your finances seriously.
Being late on your monthly bills can be costly with a lot of fees.
Paying your bills on time means that you won't live paycheck to paycheck.
@snowballtracker β’ Increase the value of your money
Inflation decreases the value of your money and your purchasing power.
This is why it is necessary to put your money to work on assets that beat the inflation rate.
Invest in :
- Stocks
- Real estate
- Index funds
- Business venture
Inflation decreases the value of your money and your purchasing power.
This is why it is necessary to put your money to work on assets that beat the inflation rate.
Invest in :
- Stocks
- Real estate
- Index funds
- Business venture
@snowballtracker β’ Financially literate
Ignorance is very costly.
There are people with huge salaries who are not familiar with basic financial concepts and still live paycheck to paycheck.
Being familiar with basic financial concepts can be a difference-maker in life.
Ignorance is very costly.
There are people with huge salaries who are not familiar with basic financial concepts and still live paycheck to paycheck.
Being familiar with basic financial concepts can be a difference-maker in life.
@snowballtracker β’ Invest for retirement
Even if you do not make a lot of money, you need to start investing with what you have.
Those who are smart with their money have accounts with their employers, such as 401(k) or 403(b).
They have IRAs, HSAs, or even brokerage accounts.
Even if you do not make a lot of money, you need to start investing with what you have.
Those who are smart with their money have accounts with their employers, such as 401(k) or 403(b).
They have IRAs, HSAs, or even brokerage accounts.
@snowballtracker If you enjoyed this thread, please like, comment, and retweet the first tweet.
I write about
- Personal Finance
- Investing
- Wealth
Follow me @AccentInvesting to get more tips.
Subscribe and get a free guide on 5 ETFs to hold for life: bit.ly
I write about
- Personal Finance
- Investing
- Wealth
Follow me @AccentInvesting to get more tips.
Subscribe and get a free guide on 5 ETFs to hold for life: bit.ly
I invest $300 per week in the S&P 500.
π 10 Yrs - $219,535
π 20 Yrs - $706,824
π 30 Yrs - $1,788,431
Don't miss out! Simplify your financial journey with our guide to index funds.
Get your copy today.
accentinvesting.gumroad.com
π 10 Yrs - $219,535
π 20 Yrs - $706,824
π 30 Yrs - $1,788,431
Don't miss out! Simplify your financial journey with our guide to index funds.
Get your copy today.
accentinvesting.gumroad.com
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