If you're looking for an easy way to measure your performance in the financial arena, all you have to do is answer one question. How much interest did you pay last year? If the answer is anything above zero, you're not maximizing your finances. Ask yourself why you're paying interest. Interest is a symptom of a deeper issue. Maybe you're not living within your means. Perhaps you like to splurge on things that wreak havoc with your finances.
It took me decades to reach a point in my life where interest is no longer part of the family budget. The challenge now is to make sure I don't put my progress into reverse. I discovered that deferred dreams are better than money nightmares resulting from a "buy it now attitude." We saved our pennies for a year before committing to our deck projects and paid cash. How about you? Are you ready to get serious about removing interest payments from your budget? Today is a great day to start. Have a great day.
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