Want to invest? First you have to take control of your finances through budgeting. 75% of investing is financial control. Iron control of your finances. I know this because I have slipped time and time again.
How can you maximize your budget to generate wealth?
Let’s use the example of Jessica. She earned her BA in a liberal arts field and obtained employment doing administrative work, earning about $30,000 a year. After taxes, she takes home about $20,000, or $1660 a month. She lives with roommates, so her rent is about 1,000 per month. She owes $20,000 in student loans and makes her monthly minimum payments of $150. After her monthly expenses, including groceries, health insurance, utilities, and miscellaneous things, she isn’t left with any money left over, and sometimes, she can’t even pay off the entire balance of her credit card.
Jessica has dreams and ambitions and wants to know how to maximize her budget to increase her net worth. She would like to own her own business one day, but it feels impossible when she’s barely scraping by, living paycheck to paycheck. So, what…
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