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Managing your money is a lifelong endeavor.
And sometimes, you may fear youre falling short.
Maybe youre not saving enough.
Debt might be weighing you down, or theprospect of long-term planning may feel overwhelming.
The first step is saving $1,000 for astarter emergency fund.
Then move on to the next smallest debt, continuing the process until all non-mortgage debts are eliminated.
The next step involves saving three to six months worth of expenses in a fully funded emergency fund.
In step four, you invest 15% of your household income for retirement.
If you have kids, theyre the focus of step five, which involvessaving for their college education.
Your home is the centerpiece of step six, because youre paying it off early.
Finally, step seven encourages you to build wealth and to give where you’re free to.
To avoid overspending, its crucial toset up a budgetthat is both realistic and challenges you to live frugally.
This also means learning to say no to yourself by steering clear of impulse buys.
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