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Dangers of Being Too Frugal

Posted by Joe Wallace on Feb 4th, 2021 · 0 Comment

Are there dangers of being too frugal? Some believe in an old wheeze that goes something like this; “if you spend all day making everything from scratch, you’ll never have time to explore the world and share your skills”. But learning how to DO things–especially from scratch–is a skill worth cultivating no matter what it is you are trying to make. Learning self-sufficiency...
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Tips To Improve Your Finances

Posted by Joe Wallace on Oct 1st, 2020 · 0 Comment

People find out that I write about personal finance issues, and start asking me questions about how to improve their finances–especially the budget and overall financial bottom line. Some of the most common issues when trying to manage your personal finances have to do with the information, how often you get it, and what you do with it. Here’s a list of tips that can help you do better...
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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.

Dangers of Being Too Frugal

Tips To Improve Your Finances

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