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3. Decide your priorities. You must know how much money you are bringing in, and how much goes out every month. Simply use a monthly budget sheet to find out where the money goes. If you are not satisfied with the result at the end of the month, then it is time to change your spending habits and make some serious decisions.

4. Set financial goals. Having financial goals makes it easier to make the necessary spending cuts to get what you really want. Without reasons to cut spending and save, you will constantly be under pressure to spend money you don't have for things you don't need. If you want to go on a trip, then find out how much it will cost you and you will know how much you need to save in order for you to be able to go on your trip. If you decide to buy a home, then find out how much money you need to save for a down payment, closing costs and reserve in case of an emergency. You always need to evaluate how much you need to save every month in order for you to accomplish your financial goals. You can't go anywhere without having a clear plan.

5. Use credit only as a tool and with a clear plan. Using credit cards wisely will help you establish great credit rating overtime. Figure out how and when you will pay the balance on your credit card purchases. Your goal should be to pay off credit card purchases within just a few months. If it takes you longer, then you should consider a higher paying job or taking a second job. You need to do something to pay off your debts rapidly.

6. Always have an emergency savings fund. You need to be prepared for emergencies. You should be prepared in case of a medical emergency, job loss, car repair or replacement etc...You need 3 to 6 months worth of living expenses should a problem occurs problems. Start savings today.

7. Learn how to invest money and prepare for retirement. Your money has to earn more money. You need to be prepared for your retirement. Talk to a financial planner but you need to do it now. Don't wait until you realize it is too late. The sooner you start the better off you are.

To Your Success,