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How can families struggling with financial insecurity, obtain financial freedom?
6 Answers
- Anonymous6 months ago
They need more skills . If not it's always a struggle
- ibu guruLv 76 months ago
1. Rethink spending. Identify essential needs, and the most effective & least costly way to meet those needs.
2. SAVE at least 10% of income out of every paycheck or other incoming funds.
3. BUDGET! Plan your spending, including setting aside your emergency fund.
4. Once you have an adequate emergency fund, learn about investing & transfer savings into investments for better returns & future streams of income.
5. Multiple streams of income! Those who rely solely on one stream, or one job, risk their livelihoods. Technological obsolescence is surging, with entire occupations being eliminated. Creativity, resilience, adaptability are major assets you can use toward creating financial security.
- R PLv 76 months ago
Use the Dave Ramsey method of getting out of debt.
It works, but you have to be diligent and stay on a strict budget.
- ScottLv 76 months ago
There's only two ways. 1) reduce expenses or 2) increase income, or a combination of the two.
- Anonymous6 months ago
Develop a work ethic.