Financial independence and financial education are crucial for achieving long-term financial success. One of the most successful investors of our time, Warren Buffett, has shared some insights on what poor people tend to waste their money on. In this article, we’ll explore these 12 things and how you can avoid them. Earnings Power – Invest in […]
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What is the Difference? The difference between the poor, the middle class, and the wealthy are vast, and it all comes down to the financial statements. The income statement and balance sheet show how much income and expenses someone has, as well as their assets and liabilities. For the poor, income is minimal, and expenses
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Many people struggle with their finances and find themselves living paycheck to paycheck. No one wants to be in this situation, but it’s a reality for many people. One reason why people struggle with their finances is that they have bad money habits. In this article, I will explain nine of the most common bad
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The divide in the world between the rich and the poor has become wider in the past twenty years and is only growing. In this article, let’s look at exactly what’s causing such different outcomes in economic fortunes and separating the rich from the poor. The most significant difference in the mental framework between the
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10 Common Financial Mistakes If you want to be good with your money, there are some mistakes you need to avoid at all costs. These ten money mistakes can set you back financially, from spending too much on unnecessary things to not saving enough for retirement. But don’t worry; I’m here to help you avoid
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Do you believe your financial situation will never improve, no matter how hard you try? The truth is that most people struggle financially because they unknowingly make mistakes. Overspending, improper budgeting, or simply being unaware of good money management strategies can all lead to a lower quality of life. This blog post will discuss eight
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Inflation is a fundamental concept in economics that refers to the general increase in prices of goods and services over time. It’s closely monitored by central banks worldwide and is considered a key indicator of economic health. While some see inflation as a natural byproduct of economic growth, others claim it’s the biggest scam in
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The best order of operations for where to put your savings depends on where it will be most helpful in moving you toward your personal financial goals. This sequence can be different for everyone but there are some basic principles for determining where to best allocate your savings for debt reduction and investing. In what
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In 2019, 69% of respondents polled said they have less than $1,000 in a savings account compared with 58% in 2018. [1] No doubt, this has grown even worse in recent years with the pressures of inflation and the increasing cost of living. So what is the best ways to save a meaningful amount of
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If you want to become a millionaire you must create one million dollars of value in the marketplace through a product, in a portfolio, or with a business. A millionaire is someone who accumulated a seven figure net worth in assets above their spending habits and debt. A millionaire must have good financial defense through
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