Setting financial goals

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The New Year is a great time for a financial tune-up and it doesn’t have to be as daunting as many think. Rachel Cruze, personal finance expert and New York Times best-selling author of Smart Money Smart Kids, provides practical tips to help tackle your financial goals.

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  • Make a Written Budget
  • Make budgeting a priority.
  • Spend every dollar on paper before the month begins.
  • Give yourself 90 days to get it right.


  • Build an Emergency Fund
    • Start with $1,000.
    • Increase to 3-6 months of expenses once debt free.
    • Sell stuff you don’t need.
    • Get a second job or work extra hours.
    • Look at your budget and see where you can cut.


  • Live Within Your Means
    • If you can’t pay cash, don’t buy it.
    • It’s not worth going into debt for the latest “it” item.


  • Make Paying Off Debt a Priority
    • Cut up and close any credit cards you still use.
    • Use the debt snowball to pay off debt.
    • List your debts from smallest to largest and pay off in that order.


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