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Episode 3220:
Michelle Schroeder-Gardner emphasizes five key strategies to strengthen your financial foundation, paying off high-interest debt, holding regular family money meetings, diversifying your income, saving for retirement, and tracking your money. These practical steps not only reduce stress but also empower you to make informed decisions, align your household around shared goals, and build long-term financial freedom.
Read along with the original article(s) here: https://www.makingsenseofcents.com/2021/07/financial-success.html
Quotes to ponder:
"High-interest rate debt simply becomes more and more difficult to pay off over time as those interest charges build and build and become unmanageable."
"Having regular money talks with your family usually means increased communication between partners, a unified financial goal, partners being more involved, and so on."
"Even if you think that you love your job and will want to work forever, you never know what the future may bring."
Episode references:
Wealthfront: https://www.wealthfront.com
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Optimal Finance Daily - Financial Independence and Money Advice