Financial Tips You Should Be Following

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Piggy-bank-1056615_1920Some fundamentals should never be overlooked when it comes to money and there are a number of such tips to help you avoid pitfalls and grow your wealth. One good tip is to always put saving before the acquiring of shiny objects. Buying a five year old car and using it for ten years or until the wheels fall off rather than spending an exorbitant amount of money on something brand new and then changing it every couple of years is an excellent example. 

It is also a good idea to avoid risky investments that promise quick returns but often end up seeing you lose everything, while being methodical about saving instead, such as designating a particular amount of your pay check to savings and retirement accounts every month are the real keys to growing your wealth. Spending less than you make is a vital discipline to avoid being forever struggling and in debt. 

Automating your payments also helps you to avoid late fees caused by forgetting monthly debt payments.