Suze Orman says ‘The government can not save you’, so we should all pay attention to “

When it comes to personal finance, Suzuz forest Obviously: You are the best person who cares for your financial future. In his last episode “Women and money“Podcast reminded that the government reminded you that” the government can not save you “and encouraged everyone to take responsibility for the three main areas: debt, income and investments.

Here’s the forest, how he broke it and now offers to accept what actions.

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Forest dates back to two categories: good and bad. A good debt can include a mortgage or a car loan – especially you need a car to get started. Bad debt, on the other hand, usually comes in the form of high-interest credit card balances used for non-interest spending.

If you deal with Credit card debtForest offers to organize your cards at the highest to the lowest level. Type the minimum payment of each, then add these minimums in total and total 20%. You will do minimum payments on all cards, but apply an additional 20% card with the highest interest rate. Once someone pays, you roll the whole amount you do not pay the next highest card – and so on. Until the debt is over.

Notifying that cards that connect the cards can lower your FICO account, encourage you to protect your credit limit.

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Next field Forest Cash flow is called for your assessment – what is wrong.

The forest offers a simple exercise: See what you spend in the last year and divide this number to 12 to get your average monthly expenses. Then, after taxing this number, compare with the post-retirement contribution income. If your income does not cover your expenses or just makes it difficult – you have a little job.

“Ya you have to earn more or have to spend less,” he says. “Or you can do both.”

Forest emphasizes that your relationship with money is not just reaching a certain amount of dollars. This applies to yourself with how you appreciate and extend your money. It can now be active on your income and expenditures, help prevent painful surprises from the downline.