Written by Darin C. Yuzyk, BA, CFP Consultant, Financial Education & Employer Services
August 26, 2014
“The art is not in making money, but in keeping it.” ~ Proverb
As a financial educator, I’m commonly asked about the best ways of increasing wealth. My first response, as the old adage goes, is to pay yourself first.
This is simple enough in theory but in practice; well, that’s another story. Most people spend first and save what they have left over, but the best plan is to do the opposite. Set money aside first and then spend the remaining on the essentials etc. This is the foundation to financial success and it’s what separates the haves from the have mores.
The starting point to achieving any financial goal is to understand your current financial situation and, if necessary, to make adjustments so that your goals are achievable. The first thing you need to examine is your income verses expenses.Read more »