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Monday, February 6, 2012

Our challenge for February? Financial fitness.





Our challenge for February? Financial fitness.


Set goals.
As with most things in life, setting tangible goals gives you an early advantage. This applies to your financial well-being, too. By defining an item you want to purchase or a date by which you hope to pay off a piece of debt, you give purpose to your decision-making as well as chart your progress. Otherwise, it may be difficult to recognize the importance of keeping your wallet in order.


If you're looking for a place to start, go back through the challenge and see if there was any task you passed over or thought was too onerous.
Short-term: Staying on budget, paying bills on time, knowing what you need, and paying off debt.
Medium-term: Building a savings, maintaining a healthy credit history, buying a home, and paying off debt.
Long-term: Saving for your yet-to-be-born or newborn child's college education, retirement, and paying off debt (are you seeing a pattern?). And maybe buying a yacht one day.
There you have it. Though our January challenge may be over, we wish you the best of luck in staying financially fit!

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