Finance Tips for Business | Long-Term Financial Success

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FIVE IMPORTANT FINANCE TIPS FOR LONG-TERM
FINANCIAL SUCCESS
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SPEND LESS THAN IS EARNED FOR LONG TERM FINANCIAL
SUCCESS
Overspending is the single worst financial
mistake a person can make. Finance Tips Long-term
financial success relies on the ability to avoid
or control debt and save money, and those can
only be accomplished when one spends less than
they earn. Spending less than one earns also
ensures they avoid entering a paycheck-to-paycheck
lifestyle.
3
CREATE A BUDGET AND FOLLOW IT

• A budget allows one to see where their money is
  going and better control the value they get in
  exchange for their spending. While making a
  budget is a helpful exercise in itself, the full
  value of a budget comes from following its
  financial directives to control spending better.

• Using a budget as a guide to monthly financial
  decisions can take the pressure off a consumer
  and allow them to focus more energy on earning
  money, rather than how to spend it.

4
SAVE MONEY
Having funds available to help out during an
emergency can keep an individual from going into
debt at the worst possible time. In addition to
saving an emergency fund worth three to six
months of expenses, if one wants long-term
financial success, they should also save for
retirement. When one begins retirement saving at
an early age, they allow more time for their
savings to grow.
5
AVOID CARRYING BALANCES ON CREDIT CARDS
Credit cards generally come with hefty interest
fees that significantly increase overall
spending. While using credit cards and paying
them off in full each month can be a strategic
financial move, especially when the credit card
offers rewards, using credit cards and carrying
balances over from month to month increases the
total amount spent.
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THANK YOU
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