5 Financial Habits That Every Person Should Have (Episode 114)

Updated: April 9, 2022

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What you’ll hear in this episode:

In this episode, we shared five financial habits that serve as one’s foundation for growing wealth.

These habits may seem basic, but I’ll explain why they’re so important and how the benefits of these habits can easily compound your self-improvement and teach you better financial habits in the future.

Habit #1: The habit of saving to build an emergency fund.

Habit #2: The habit of budgeting and tracking your spending.

Habit #3: The habit of being frugal without being cheap.

Habit #4: The habit of immediately paying off short-term debts.

Habit #5: The habit of managing one’s lifestyle inflation.

Excerpts and Highlights:

“Habits are the compound interest of self-improvement.” –James Clear

“You can’t build a great building on a weak foundation. You must have a solid foundation if you’re going to have a strong superstructure.” –Gordon Hinckley

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