The fundamentals on which we have built are tested in times of crisis. A solid foundation should withstand the storms that blow during unstable economic times. Unfortunately, the last economic crisis left exposed huge flaws in handling money, and many people were surprised by its catastrophic effects. They had to watch helplessly as their jobs, their savings and their belongings were literally made smoke. If you were one of them, does not regret for mistakes, but look forward and ask how you can learn from them.
It is also good to always maintain a thankful attitude that focuses on what one has and not on what you don’t have. This will help to overcome their problems more than anything else. And now, with a spirit of auto overcoming and optimism, look forward and see that things can change so that in the future you can have peace about your finances. It is a historical fact that the economy behaves cyclically. So today I want to give the necessary tools for be well prepared for the next crisis, because this will come sooner or later.
7 Steps toward peace in their finances: step #1: pay all of your debts in the same way that compound interest rates work in your favor when you invest your money, work against her when it should. A debt has a double cost: payment of fees and the money that left win by not being able to reverse it. #2 Step: Establish an emergency savings account should have at least 3 salaries well to be able to face any emergency in your life. Step #3: Be generous and make 10% of donations is a universal and biblical principle that the harvest always comes after one planting. If sowing sparingly, sparingly shall reap. This is the most important step that can take toward financial security. Step #4: Invest 10% of your income before you spend your salary, pay yourself. This money is money that will work for you through mutual funds, shares, real estate and business. Step #5: Save for their children’s education is a fact Chilean families contribute three times more than the of developed countries to finance their children’s higher education. Do not allow this stage caught him off guard. Step #6: Pay your home as soon as possible there is a huge difference in the amount of money that Ud will spend in your home if you pay at 30 years or 15 years. It is better to pay it as soon as possible and invest what you saved. Step #7: Learn how to create multiple sources of income the idea is to have eggs in different baskets that are producing income month after month. If Ud has not been able to establish other multiple sources of income, it is because it has lacked the necessary information to do so. That is why it is important to invest in their financial education before attempting to invest in anything else. If you need help to change their financial situation, they will love our 10 facts about how to have a business that a mother taught her son and as a result of which he became a millionaire at age 21! You can download them free of charge in may also participate in our video free lectures. Of Bettina Langerfeldt, whose passion is to teach people of all ages like acquire a vision for your life, set goals and then pursue the specific education so that they can achieve them. Original author and source of the article