Shawn Spruce (Dr. Per Cap) says the 5 Keys to Financial Success are:
1. Income - spend less time or earn more.
2. Savings - Save at least 3 months of expenses and bills.
3. Credit - maintain at least 3 active trade lines with a clean 12 months history.
4. Insurance - Identify insurance risks you face and insure accordingly.
5. Investments - Aim for retirement savings equal to 5 times your annual income by the age 55.
As you know, tax season is here and some of you may be getting a nice chunk of cash back from the government as a return. Here are some ideas to put those refunds to good use instead:
* Pay off your debt, keep working towards that higher credit score!
* Pay ahead on your rent or mortgage payments or car payments.
* Tackle car repairs, a tune-up, and/or tires.
* Create an emergency fund!
Be sure to plan on how you intend on spending your refund, this way you wont be mad at yourself for blowing it.
Happy Tax Season!