Eric Tyson’s Keys to Personal Financial Success
Take charge of your finances. Procrastinating is detrimental to your long-term financial health. Don’t wait for a crisis or major life event to get your act together. Read this book and start implementing a plan now!
Don’t buy consumer items (cars, clothing, vacations, and so on) that lose value over time on credit. Use debt only to make investments in things that gain value, such as real estate, a business, or an education.
Use credit cards only for convenience, not for carrying debt. If you have a tendency to run up credit-card debt, then get rid of your cards and use only cash, checks, and debit cards.
Live within your means and don’t try to keep up with your co-workers, neighbors, and peers. Many who engage in conspicuous consumption are borrowing against their future; some end up bankrupt.
Save and invest at least 5 to 10 percent of your income. Preferably, invest through a retirement savings account to reduce your taxes and ...
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