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How to Achieve Financial Freedom

Watch more How to Manage Your Money videos: Subscribe to Howcast's YouTube Channel - Use these ideas to achieve financial freedom. Howcast uploads the highest quality how-to videos daily! Be sure to check out our playlists for guides that interest you: Subscribe to Howcast's other YouTube Channels: Howcast Health Channel - Howcast Video Games Channel - Howcast Tech Channel - Howcast Food Channel - Howcast Arts & Recreation Channel - Howcast Sports & Fitness Channel - Howcast Personal Care & Style Channel - Howcast empowers people with engaging, useful how-to information wherever, whenever they need to know how. Emphasizing high-quality instructional videos, Howcast brings you experts who provide accurate information in easy-to-follow tutorials on everything from makeup, hairstyling, nail art design, and soccer to parkour, skateboarding, dancing, kissing, and much, much more. Step 1: Save for the long term Put money aside for long-term savings. If you are working for a company, have money automatically deducted from your paycheck and deposited into your savings account. Tip Save as much as you can for the future without sacrificing today. Step 2: Save for a rainy day Save for a rainy day. Have enough emergency money set aside to cover three to six months' living expenses. In the event of a job loss, a car accident, or large medical bills, this money will carry you through. Step 3: Minimize credit card debt Don't accumulate large, high-interest credit card debts. Use cash for non-necessities and pay off your card each month. Step 4: Live below your means Keep your expenses under control by living below your means. Set up a budget and stick to it. Step 5: Carry insurance Carry medical, home, and disability insurance and make sure your policies are paid up. If you have a family, purchase life insurance. Now you should be able to weather whatever the winds of fortune blow your way. Did You Know? Consumer credit card debt almost tripled from $238 billion in 1989 to $800 billion in 2005.
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