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5 Long-Term Financial Goals and How to Achieve Them

Success

These goals provide motivation, direction and discipline when managing your finances. Opening a college savings fund for your child when they’re young can help you save for their future college expenses. How you build generational wealth depends on your financial situation and those of your heirs.

Goals 253
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How Do You Survive When Your Business Isn’t Profitable at the Start?

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But you also need to be prepared for your finances to change dramatically. The good news is that you can make a salary even if your business isn’t profitable. The bad news is that if you don’t have a profitable business to start, you might feel guilty or reckless drawing anything except the smallest salary you can live on.

Budget 279
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What Is My Net Worth?

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Many people focus on one or two areas of their finances but don’t stop to look at the big picture and confirm that they’re moving in the right direction overall. You may be spending more than you earn and using credit cards to help you cover expenses. You don’t have any left for emergencies, but you aren’t spending more than you earn.

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How to Reframe the Way You Think About Money

Success

It doesn’t matter how much or how little we earn—no one is immune. I studied finance in college and then worked in financial services, and I still didn’t know anything about my own money. Most of us would absolutely love to double our salaries. This was me! In most cases, we are actually choosing not to purchase it.

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Do I Need to Buy Life Insurance?

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Keep reading to learn about the different types of life insurance policies, how to determine if you need to buy it, and how much your policy should be worth. People purchase life insurance to help their families replace lost income and cover final expenses after death. But it doesn’t have to be a painful experience.

Policies 233
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Should You Encourage Your Team to Pursue Side Hustles?

Success

Side hustles give people the chance to earn more money, start their own businesses or learn new skills, potentially leading to a salary increase in the future. New business owners, for instance, need to know how to manage and prioritize their neverending to-do lists. Even soft skills are inevitably learned on a side hustle.

Salary 264
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How to Manage Yourself When Making the Move to Self-Employment

Productivityist

It can be really difficult to plan for the future when all you can think about is how to cope and stick it out until the time is right. Build Your Finances. You ideally need to make sure you have enough running costs of the business to run for 6 months as well as making sure you have enough to pay for living expenses.