1~ Be patient with yourself and your situation. I list this first because too many times we get restless and impatient, wanting to do something with your finances that will impact you for years. These include buying or selling a house, car or any other expensive item. Don't ever be in such a hurry that you rush into something you don't fully understand.
2~ Take a step back (and a deep breath). Making any major financial decisions when under stress or strong emotion is never a good thing.
3~ Always live within your means. No exceptions. Period.
4~ Don't buy too much house or car. While houses are assets and generally go up in value, cars are not. They go down in value and if you can't afford the depreciation, don't buy it. Stick with a car that's a few years old and reliable. Buy a house that you can comfortably make the payments, and then some, to pay it off faster.
5~ Avoid debt at all costs. With the exception of a home and possibly some graduate level degrees, DO NOT go into debt. It's not worth it. Debt stifles your ability to build wealth and invest in your future. Cost versus benefit rarely tip the scales in favor of taking out loans of any kind. Most of the time that means sacrificing now for future rewards.
6~ Keep going. When you feel bogged down by where you are at, just remember to keep going! It's not a sprint, it's a marathon and you're not racing against anyone but yourself. As long as you keep putting one foot in front of the other you'll eventually get to where you want to be.
I promise that if you practice these things, not only will you will save yourself much grief, trouble and regret, but you will soar and be able to accomplish your dreams.
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