Budgeting Like a Pro - Deepstash

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Budgeting Like a Pro

  • Consider an All-Cash Diet, as limiting yourself to physical currency combats overspending.
  • Set aside 1 minute a day to check on your financial transactions, to identify problems, track goal progress and set your spending tone.
  • Allocate at least 20% of your income to financial priorities like emergency funds, debts and retirement fund.
  • Budget about 30% of your income for nonbasic spendings, like entertainment. Abiding by the 30% rule, you can save and splurge at the same time.

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  • Pay attention to the fees you pay in your funds, also called expense ratios, as they can eat into your returns. It’s generally recommended to stick with low-cost index funds.
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  • Start Saving ASAP. Money you put in your retirement fund now will have more time to grow through compound growth.
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  • Evaluate purchases by cost per use. Higher cost products may last longer, but go unconsidered because of their initial price.
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  • Reviewing your credit report and your credit score regularly can save you money
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  • Make savings part of your monthly budget. 
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  • Get more life insurance on top of your company’s policy, as it is often far too little.
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  • When negotiating a salary, get the company to name figures first, otherwise you can’t know if you’re lowballing or highballing. 
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  1. Create a Financial Calendar: prevent yourself from forgetting quarterly tax payments and to get credit reports.
  2. Check Your Interest Rate: Pay off loans, open saving accounts and negotiate credit debts based on interest rates.
  3. Track Your Net Worth: The dif...

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