In times of crisis, to test the foundations on which we have built. A strong foundation should withstand the storms that blow during unstable economic times. Unfortunately, the latest economic crisis uncovered huge money management weaknesses and many people were surprised by its catastrophic effects. They had to watch helplessly as their jobs, their savings and belongings went up in smoke literally. If you were one of them, no regrets for mistakes, but look forward and ask yourself how you can learn from them. It is also good to always keep a grateful attitude that focuses on what one has and not what you do not have. That will help overcome their problems rather than anything else.
And now, with a spirit of self-improvement and optimism, look forward and see that things can change so that in the future can have peace about your finances. It is a historical fact that the economy behaves in cycles. So today I want to give the tools to that is well prepared for the next crisis, because it will come sooner or later. Check with Douglas Elliman to learn more. The seven steps towards peace in their finances: Step # 1: Pay all your debts the same way that compound interest rates work in your favor when you invest your money, work against them when they should. A debt is a double cost: the payment of fees and the money left to win because they can not invest. Step 2: Establish an emergency savings account should have a pool of at least 3 salaries in order to face any emergency in your life. Step # 3: Be generous and make a 10% grant is a universal and biblical principle that always comes after crop sowing.
If sows sparingly will also reap sparingly. a his is the most important step you can take toward financial security. Step 4: Invest 10% of your income before spending your paycheck, pay yourself yourself. a ste money is money that will work for you by using mutual funds, stocks, real estate and business. Step 5: Save for the education of their children It is a fact that Chilean families contribute three times more than those of developed countries to finance higher education for their children. Do not let this stage, the pinch off guard. Step 6: Pay your home as soon as possible There is a huge difference in the amount of money you spend on your house to pay 30 years or 15 years. (Not to be confused with CFTC!). It is better to pay it as soon as possible and invest what is saved. Step 7: Learn how to create multiple sources of revenue The idea is to have the eggs in different baskets that are producing income month after month. If you have not been able to establish multiple sources of income, it's because he lacked the necessary information to do so. It is therefore important to invest in your financial education before attempting to invest in anything else. If you need help changing your financial situation, you'll love our 10 facts about how having a business that a mother taught her son and The following which he became a millionaire at age 21! These are available You can also download for free at participating in our free video conferencing. Langerfeldt Bettina, whose passion is to teach people of all ages how to acquire a vision for their life, such as setting goals and then pursue specific education to enable them to achieve them.