Warren Buffett is a billionaire with amazing long-term success in business and investing. So, when Warren Buffett speaks, thousands of his admirers listen. As an hour-long television interview of Mr. Buffett was ending, he was asked if he had any closing words of advice? “Educate yourselves and stay away from credit cards,' he said simply. Education is critical. Thousands of mutual funds compete on the open market with confusing fees, rules and terms. We need to ask informed questions and carefully evaluate investment opportunities. It's normal to want nice things and to want to enjoy ourselves. But, easy credit makes for easy spending. Credit card balances can gradually increase and become unmanageable. We are creatures of habit
We tend to do the things we like and avoid doing the things we don't like. We have lots of habits. The question is, are your financial habits working for you or against you?
How is your savings habit? Do you save money every month? Do you pay off your credit card balances in full each month? Small changes can make a huge difference
The difference between financial success and financial frustration is often small. Sometimes, all it takes is some financial fine tuning.
Try doing this:
-- For one month, keep track of all of the money you spend.
-- Ask yourself: 'What else would this money buy?'
-- Modify some spending so you can increase your savings. If what you've tried isn't enough, ask for help
Even people with good incomes sometimes wonder why there is not enough money to go around. Many people call FISC for a free consultation for up to 30 minutes with the “Counselor on Call.” Most people feel relief after talking with someone and learning more about their options. Call (920) 886-1000 or 800-361-8161
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