Key 1 – Pay your self first

key 2 – Saving is not a punishment. Its making choices about how you’ll use your money.

Key 3 – Financial sucess involves hard choices. Be prepared to make them.

Key 4 – Make a budget and stick to it.

Key 5 – Future financial independence is worth present sacrifices.

Key 6 – If you cant afford it pay cash, pass.

Key 7 – Communicate with your creditors, especially if you are going to be late with a payment.

Key 8 – As soon as expenses rise to the level of your income, trouble is not far behind.

Key 9 – Self-discipline is the key to any sucessful financial program.

Key 10 – Balancing your checkbook with each statement is essential. It costs only 15 minutes a month and is one of the best investments you can make.

Key 11 – If you dont know where your money is going, you cant decide where to spend it.

Key 12 – A penny saved is a penny earned.

Key 13 – You never know whats going to happen. Tuck away an emergency fund of at least 3 months.

Key 14 – Save at least 10 percent of each paycheck.

Key 15 – Beware of small expenses. Each muffin and cup of coffee on the way to work adds up over a years times.

Key 16 – make a list your basic, essential living costs and add them up to get a real picture of what you need to cover your monthly nut.

Key 17 – Avoid the temptation of buying more than you need just because its a good price. You cant afford the savings.

Key 18 – If you have multiple crdit cards, pay down your highest intersts cards first.

Key 19 – Paying at least double the minimum required each month will show progress.

Key 20 – Re-evaluate your personal budget at the begining of every year and adjust where needed.

Key 21 – Teach your children how to save.

Mike Magana is a personal finance coach that helps families in reducing their taxes, getting out of debt, and controlling there living expenses. Please reach me at [email protected] for any comments.

article source: adzines.com