3. Borrow Sparingly – Used credit on things of lasting value, pay cash for everything else. Do you know anyone who got in big financial trouble because they didn’t borrow enough money? I don’t think so, says Kiplinger.
4. Pay Yourself First – Next time you sit down to write bills, reverse the process and write the first check to your investment account, continue writing your regular monthly bills, and finish up with the credit card bill. If you have trouble paying that last bill, start trimming your discretionary spending (movies, clubbing, restaurants, etc).
5. Don’t Swing For Home Runs – In investing, like in baseball, those who swing for the fence occasionally hit the home run. But they strike out a lot too. Be patient, and shy away from the risky stuff, and don’t try to time the market. Invest regularly in solid companies.
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