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Here are threebrutal money lessons that are not talked about enoughand how to avoid them.
Spiraling Debt
Americans are racking up more debt than ever.
Spending can get out of control quickly, andtoo much debtprevents a comfortable retirement and a strong financial future.
Understanding the full cost of ownership is the biggest way to prevent debt from mounting.
In addition, she believes its vital to plan for unexpected costs and mishaps by at least $1,000.
Many people dont get serious about retirement until they are near the age of 60, said Rothman.
By that point, theyre limited in how much they can save for retirement.
Others are forced to delay retirement altogether until they can build it up to a comfortable point.
With Social Security running out of funds, the dwindling program isnt enough to rely on.
Help your future self and save now.
Start small and create a routine of putting money away.
Often, retirement savings isnt enough to live at the same income level.
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