If you want to retire with a decent nest egg, you have to do things differently than others.
Most people do not budget. They do not establish goals. They don’t watch their spending. They live paycheck-to-paycheck. They rely on credit cards for routine purchases.
A budget guides your spending so that you can grow your savings. You will never achieve your financial goals without a budget.
Many people think spending money lowers their stress. This isn’t true. It’s more of a numbing of the stress. In the long run, retail therapy leads to more stress.
If you have a home, student, or auto loan, create a plan to pay off that debt and quit paying those interest charges.
The power behind investing is compound interest: Your investments earn interest, and then that interest earns interest.