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Home > Personal Finance
Personal Finance
After reading the Five Rules of Personal Finance listed below, explore the rest of the Personal Finance links on
the left. More updates will follow, so be sure to come back frequently.
Five Rules for Personal Finance
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Spend less than you earn - You can't borrow your way to wealth and security. This very simple
notion is the cornerstone of financial freedom. Although it takes willpower and determination, the reward is financial
freedom! Using computer based personal finance software, Microsoft Money
2007
Deluxe,
Premium
and
Home and Business or
Intuit's Quicken 2007
Basic,
Deluxe,
Premier
and
Home and Business, can
show you where you are spending your money so you can find ways of reducing expenses.
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Use automatic savings - Pay yourself first. There is no such thing as "leftover" money.
Have 10% of your paycheck put into a savings account that you never touch.
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Take free money - Sign up for your 401(k) or 403(b) plan where you work. The benefits are
first: tax savings from Uncle Sam and second: many employers will match your contribution (up to a limit). Your boss
wants to give you extra money! Take it!
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Owe as little as possible - Credit card debt is killing a lot of peoples future security. Paying
off those credit cards is the same as saving money tax-free at 18% interest (or more)!
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Trust the power of "average" - Don't try to "time" the stock market,
instead invest in indexed mutual funds instead of betting on a particular stock. If you don't understand an investment,
as annuities, limited partnerships, and stock options, don't invest! When anyone offers you a "sure thing,"
grab your checkbook and run away!
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