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"How to Create a Bright Financial Future: 11 Expert Tips"

Regardless of the type of work you do, acting now to start creating a bright financial future for you and your family can be empowering. When you start now, things like a raise or better-paying job will become the icing on the tasty cake you’ve already made, and add to your pleasure, rather than having to bail you out of a financial jam.


Try these strategies to ensure your financial outlook is bright:


1.      Save at least 15% of your paycheck. This amount will give you something to fall back on when times are incredibly lean or funds to invest so your money can work for you.


·         For example, if you clear $500 a week, ensure you save at least 75 dollars for your future. 


2.      Choose a Financial adviser you trust. As you accumulate your savings, it’s crucial to have a well-thought-out investment plan that maximizes long-term returns. Remember, the decisions you make today can significantly impact your financial future.


3.      Have just one major credit card and use it sparingly. Charging a small amount on it each month and paying that amount back before the end of the month builds your credit and keeps you out of debt at the same time.


·         Keep a significant part of your credit allowance open for emergencies.


4.      Vow never to pay finance charges again. Of course, you’ll likely be paying a mortgage and perhaps a car loan that includes finance charges you may be unable to avoid. However, paying finance charges is like setting fire to your dollar bills outside of those two payments. Take steps to ensure you pay as few finance fees as possible.


Financial future

5.      Pay all your bills on time. There are a few good reasons to do so:


·         You build a favorable credit record.

·         You keep money in your pocket instead of wasting it on late fees.

·         You build confidence that you can manage your money responsibly.


6.      Find a competent tax preparer and accept his financial advice. A great tax accountant will tell you how to pay fewer taxes and rack up some helpful deductions. He may even offer helpful guidance about how much money to put into your Individual Retirement Account.


7.      Establish financial boundaries with your children. Teach them from a young age the value of earning and saving money. This early financial education will equip them with essential money management skills that will benefit them throughout their lives.


8.      Apply $500 to $1,000 yearly extra toward your mortgage principal. If you prefer, pay an additional mortgage payment each year. It will save you thousands in interest. Plus, you’ll pay your home off years earlier, freeing up your funds for whatever you want.


9.      Keep your resume up to date. You never know when you’ll want to apply for a promotion, change careers, or develop side projects for extra income streams.


10.  Consistently accept part-time, short-term, or temporary second jobs. Bringing in extra money occasionally in addition to your full-time work pads your bottom line.


11.  Hone your computer skills. Those who know their way around a computer are more likely to be successful at work. Broaden your horizons even further by learning about new software in your industry.


Put the above strategies to work to strengthen your money situation. Care for your finances and nurture your financial situation today and every day. When you do, you’ll live the incredible life you’ve always wanted!

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