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Financial Security Steps

first-time homebuyer tips

The Best First-Time Homebuyer Tips to Get You Started

These first-time homebuyer tips will help your home buying journey follow a financially responsible path. Purchasing a home is a complex process with many steps, and it’s one of the biggest financial decisions you will ever make.  Homeownership is a big part of the American dream, but it seems like a stretch these days. I’m …

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budget method

How to Find the Best Budget Method for Your Life & Money

Do you find yourself struggling to work out how much money you’re spending and where it’s going? We all know that budgeting is an important part of financial stability, but many people don’t know where to start. With so many different budget methods, which one will be the best for your life and money situation? …

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Financial Security Step 10 | choose your next financial goal - Balanced FI

Financial Security Step 10: Choose Your Next Financial Goal

Listen to the podcast episode The final step toward financial security varies from person to person. You can choose the next financial goal to pursue after Paying off debt Saving 6 months’ expenses and Increasing retirement contributions  Depending on your choice of goal, you can accomplish multiple over the years. You can, and likely will, …

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Financial Security Step 9: increase retirement contributions - Balanced FI

Financial Security Step 9: Increase Retirement Contributions

Listen to the podcast episode Early, monthly retirement contributions are the single most important part of your long-term savings plan as you prepare for life after work.  Waaaaay back in FSS Step 2b, you started saving for retirement. When you are saving a mini emergency fund or have debt (other than a mortgage), retirement contributions …

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Financial Security Step 5: Create a Debt Payoff Plan - Balanced FI

Financial Security Step 5: Create a Debt Payoff Plan

Create a debt payoff plan to take advantage of every extra cent and build momentum to get out of debt more quickly and strategically. Listen to the podcast episode Debt payoff is usually the longest, hardest part of the path toward financial security. It can take years to pay everything off, especially if you don’t …

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Financial Security Step 4 - Calculate your Net Worth - Balanced FI

Financial Security Step 4: Calculate your Net Worth

Calculate your net worth to track your financial progress. Net worth goes up as assets increase and debts decrease. Listen to the podcast episode: Calculate your net worth to measure your progress toward financial security. Over time, you want your net worth to increase. Once it hits $1 million, you’re officially a millionaire, even if …

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