Money Guy Show Do You Need a Budget?
Mar 11, 2024
Discover the importance of tackling credit card debt before investing and effective strategies for managing finances with inconsistent income. Explore budgeting for golfing performance goals and maximizing Roth IRA contributions. Prioritize financial goals and long-term planning for a secure financial future.
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Debt Prioritization
- Prioritize high-interest debt repayment over tax-advantaged investments.
- Aggressively tackle debt to regain control and build a strong financial foundation.
Debt's Detrimental Impact
- High-interest credit card debt weakens your financial standing, acting as a destructive force.
- It turns the power of compound interest against you, hindering your progress.
Investing with Variable Income
- Base consistent savings on baseline income to manage inconsistent cash flow.
- Save a higher percentage of commission checks to reach overall savings goals.