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Sometimes, the bestfinancial adviceis blunt and straightforward, even if it is a bit uncomfortable to hear.
Youre Not Unique
Its true that no two people are the same.
However, when it comes to personal finance, people have a lot in common.
While getting the most out of your morning is important, what you do wont amount to more savings.
The most important thing is to be intentional with your time and figure out what works best for you.
Dont Blame Inflation
Inflation has become a common scapegoat for individuals with poor financial habits.
Rather than blaming inflation, take accountability for your actions.
Start keeping a budget and tracking your spending to make a real difference.
Then, invest the money you save from cutting your expenses to counter inflation.
Sethi said you should ride out market fluctuations by keeping your money in the market long term.
While these decisions can help, prioritizing the bigger picture is more important.
Focus on being consistent and following theright financial rulesto succeed.
Sethi pointed out that housing and vehicles are the two most likely causes of financial trouble.
However, there are more than just monthly payments.
Finally, with both houses and cars, things will break down and need fixing.
Some people rationalize these purchases by calling them investments; but, in reality, those items are luxuries.
After you admit the truth, you’re able to determine whether you should get them.
Sethi said renovating something doesnt guarantee you will make money.
He added thatmost home renovationslose money.
Instead, build a system for your investments and be patient.
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