People who struggle financially cite some common reasons: low pay, credit card debt, high housing costs, inflation, too much retail therapy, etc. Smart Sacrifices MASTERING MILESTONES ON THE ROAD TO RICHES Invest your savings. Start investing any new savings for higher returns. Avoid speculative plays such as cryptocurrency or Master Your Money With Reverse Budgeting
Few realize that by setting goals and making the sacrifices required to achieve them, they could join the ranks of those who live comfortably with ample savings. Here are five proven steps for making your money work for you.
individual stocks. Instead, do some research on index funds, exchange- traded funds, bonds, or certificates of deposit with solid track records.
Pay off high-interest debt. You must stop the bleeding from costly credit card debt. One of the best strategies is the avalanche method, which entails paying off your highest- interest debt first to save the most money on interest. Another method, the snowball approach, requires paying off the smallest debt first, then redirecting that money to pay off the next largest debt. This method saves less money in interest but offers more immediate gratification. Save up an emergency fund. If you can, set aside $2,000 as a safety net immediately. After paying off any high-interest debt, build that fund to cover 3–6 months of expenses. Stash it in a high-yield savings account so it will keep working for you while you pursue other goals.
Increase your earnings. If you don’t have money, you must work to get it. It may not be fair that some people work three or four jobs to meet their goals, but it’s better than staying stuck. You also may have to invest in gaining new skills to increase your income. Take charge. Clinging to a victim mentality is self-defeating. Thinking positively isn’t enough to make you rich, but it will open up new opportunities you couldn’t otherwise have imagined and help you stick to your goals.
Once you have mastered these secrets of the rich, start working toward your own milestones. The lifelong rewards will be more than worth the effort!
MEET ARIEN The Friendly Face of Estate Planning at Shoup Legal At Shoup Legal, the camaraderie and teamwork our team members bring truly set us apart. Every day, our team comes together to support one another and ensure that we deliver the best for our clients. We work hard to bring in the best talent and are proud of the team we’ve put together! Some of you have likely met Arien, our estate planning assistant at our Escondido office. With his cheerful personality and amazing skill set, Arien greets our clients, connects them with our attorneys, schedules appointments, and assists in reviewing documents to ensure we are accurately meeting our client’s wishes. “I’ve wanted to be a lawyer since high school,” Arien says with a smile. “I attended the University of Santa Cruz, where I learned more about legal studies and environmental law, two areas that really excite me. I believe that Shoup Legal is a great atmosphere that allows me to not only grow and develop, but to connect with team members in a positive environment to gain a lot of experience.”
love that grew during his time attending school in Santa Cruz. Now, he stays active whenever he can, whether it’s hiking, running, or simply taking a stroll. Arien also enjoys writing in his free time. As an undergraduate, he spent three years as a research assistant and contributed to an undergraduate publication.
Arien is currently preparing for his law school admission test with aspirations of becoming an attorney. Outside of work, he has a passion for the outdoors, a
Arien, we are thrilled to have you as part of our team and look forward to continuing to serve clients together!
Plan today for peace
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