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Here are the top five pieces of advice.
This breakdown allows those just starting toimprove their financial healthto get started.
Hold 6-Months of Cash
In this first tip, Tae discusses the inevitability of emergencies.
You may be a great driver, but accidents happen.
Your kid may be great at sports, but they busted their knee in soccer.
Things happen, and the last thing you want is to invite financial ruin by not being prepared.
If youre just starting out, you might build up to 3-months of your expenses in savings.
Then, work your way up to 6 months.
Build Competitive Career Capital
One of the most important steps toward wealth is getting really good at your job.
Whether you build houses, teach high school English, or sweep floors in a restaurant.
Always work on improving your skills and leveling up.
This approach to your profession goes a long way toward making you more marketable and more hireable.
Youll be more likely to continue to make more money and work toward real wealth.
Money spent on these parts of life is never wasted and is always an investment.
You might be paying for books to read on your profession or health.
Maybe youre paying for a gym membership.
Or, you could be spending money on a road trip with your family.
Avoid Debt
Tae is one of thefew financial expertswho will tell you to avoid debt at almost all costs.
Taking on credit card debt, car loans, and other kinds of debt may seem like smart tools.
From there, as Tae says, were only one paycheck away from financial ruin.
Be Frugal
Finally, become known as a frugal person.
According to Tae and many other financial experts, frugality is the true key to wealth.
The wealthiest people spend their money sparingly and only on quality items.
You wont see Amazon and Temu boxes arriving at their front doors every day.
They spend money well under their means, invest it, and grow it.
This, as the experts say, is the true, simple pathway to wealth.
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