Setting your Financial Goals
Write down your financial goals and your definition of wealth. Periodically refer to your goals.
Now, write your own strategies for building wealth. Keep in mind the following:
- Educate yourself about money.
- Establish financial goals.
- Create a budget.
- Save each month, using automatic deduction.
- Take advantage of compound interest.
- Take advantage of tax-deferred investments.
- Research and learn about the best investments for you based on your financial goals, time horizon and tolerance for risk.
- Control debt.
Start budgeting, saving and investing today. Every day counts in building wealth.
Used with permission and adapted from the website of The Federal Reserve Bank of Dallas
Copyright 2002. All rights reserved.
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This content was last modified on: 07/22/2008