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Can humble savings produce great investments?

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Image source: argentresources.com The short answer is yes. However, before thinking about investing, it’s best for one to get started and get serious on saving. A humble amount can produce large returns in the future, especially when one stashes their money in investment vehicles that do very well. Here are a few tips to turn small savings into great investments. Steve Sorensen Networth . For a good start in saving, one should subscribe to the idea of paying themselves first. The way to do this is by saving a part of the monthly income as soon as one gets it, instead of saving what’s only left after paying bills and purchasing wants. An emergency fund is an ideal training ground for saving up for future investments. It definitely isn’t a cheap bill as it should cover 3 to 6 months’ worth of either income or expenses. Steve Sorensen Networth. Image source: theprofitkey.co.uk It is recommended by financial advisors that individuals get started on saving and investing as soo...
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A young professional's guide to building net worth

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Image source: Pexels.com  Steve Sorensen net worth. A person can increase their wealth as soon as they understand how their finances work. Learning how to manage one's money and applying these strategies allow a person to create wealth. There are some tips for young professionals who want to build their net worth. Settle debt If the payables are more than the income, this affects a person's net worth. Though it might take sacrifice, paying off student loans, credit card bills, and other debts early will allow a person to attain financial freedom faster. By setting goals and prioritizing these accounts, a person will have better opportunities to build their assets, investments, and emergency funds. Steve Sorensen net worth . Find a side hustle Image source: Pexels.com Income from a day job might not be enough for a young professional who is just starting out. Along with their desire to grow in their career, they might also consider pursuing graduate studies or m...
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Five tips for a financially healthy 2021

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Image source: forafinancial.com Although many desire to become financially independent, only some are ready to change their lifestyle. Being financially healthy exceeds maintaining a few savings accounts for different purposes. It takes a ton of practice and self-control to achieve financial independence. Steve Sorensen Networth. One should spend less than what they earn . It’s important to create a substantial gap between one’s income and spending in order to increase their savings. Sure, creating the gap is a huge challenge, but it definitely is possible. The key to spending less is to set up a budget . Having a budget in place prevents one from spending their money on unnecessary transactions. A budget can encourage a person to save and reach their financial goals. Steve Sorensen Networth . Image source: thehivelife.com Pay off debt aggressively . Don’t wait until the interest is much larger than the actual amount owed. Credit card debt is among the harshest financi...
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