Financial Truths

Here are some basic financial truths:

• Income – Outgo = Exactly Zero
• Consumer Debt is NEVER helpful long-term
• Saving a little every month trumps trying to save a lot once in awhile
• Automatic savings is far more consistent than relying on oneself to write a check every month
• A spending plan prepared BEFORE the month begins allows one to accomplish far more than one without a plan
• No one has ever cried that they had saved too much money, but many have cried over saving too little
• Retiring entirely dependent upon Social Security is far worse than retiring independent of Social Security
• Working together with your spouse on money will improve your marriage
• Prayer really works!
• Seeking wise counsel from those who have “been there – done that” always trumps “going it alone”
• Mutual funds are not the only way to build financial wealth
• Everyone CAN be debt-free – it is a choice

What are some other financial truths you would share?

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