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Ripple Effect | The Collateral Damage Of Rising Corn Prices

Posted by Jim on Sep 6th, 2012 · 0 Comment

The worst drought to hit the Midwest in more than 50 years will impact more than the farmers who are looking at shriveled up ears of corn that are 1/3 their normal size, dry as a bone and a horrific color that no one is accustomed to seeing. Actually, those farmers will make it through this difficult summer—it’s the American consumer, food commodity prices(and perhaps the very poor abroad) that...
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Here are some simple guidelines that will help you build wealth:

1) Do the math. Get a budget and calculate your net worth

2) Get an emergency fund. Save at least 6 months worth of expenses

3) Limit costs. Spend no more than 30% of your income on housing

4) Max your retirement. Maximize contributions to your tax-deferred retirement accounts

5) Pay yourself first. Set aside money for yourself before you take care of your other bills

6) Set goals. Goal let you get ahead faster

7) Avoid high interest debt. Avoid credit cards, title loans and other usurious loans

8) Diversify. Diversity your assets.

Ripple Effect | The Collateral Damage Of Rising Corn Prices

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