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What Should You Get the Other Mothers in Your Life?

Posted by Amanda Stewart on May 8th, 2018 · 0 Comment

What Should You Give the Other Mothers in Your Life?

This year Mother’s Day spending will reach an estimated $23.6 billion. Although the strength of the economy is a key driver of this spending, another factor includes people buying gifts for all of the other mothers in their lives — not just their own mother.
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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.

What Should You Get the Other Mothers in Your Life?

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Critical Financials’ Basic Personal Finance Rules

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