Here are three critical money moves that can help Americans prepare for tough economic times.
Transcript:
REBECCA MEZISTRANO: As recession fears grow, what three financial moves should every American be making right now?
DAVE RAMSEY: Well, your most powerful wealth building tool is your income. If you’re a typical American, most people that makes them more money. That gives them the money to put in their 401(k) in their Roth and to let it grow in some good growth stock mutual funds. So getting out of debt. So that you free up your income is a powerful move and no one wins on accident. And so winning is an intentional act, whether it’s in your marriage, raising kids, in your success or in your money. And it’s an intentional act in your money. It’s called a budget. So tell your money what to do instead of wondering where it went before the month begins. And those sound like old fashioned and grandma things. But if you learn to live on less than you make, and you learn to invest and you stay out of debt and you do it with a plan, those are the keys of people that actually become wealthy.
Subscribe |
Earn. Live. Invest. |
TheStreet Pro |
#daveramsey #personalfinance #recession
source
