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Timeless Financial Truths

Everyone has their own personal beliefs that guide their decisions. There are also some core financial beliefs that are timeless truths - a guiding compass throughout the ages. These markers extend beyond spending less than you earn and the age-old saying of work to live and don’t live to work.

They are transcendent reminders that we can use to keep our financial footpath planted firmly.

1. Lean on your values and beliefs

When it comes to money, let your core values and beliefs guide your decisions. Ask yourself what is important to you. This is a guiding safety net especially when considering big purchases or taking risks. It is not in your best interest to base a decision off of someone else’s behavior.

2. Focus on what’s in your control

Your own actions are all that is within your control. Accept that there will be things that happen that will cost you regardless of fault. Learn to control your impulses and emotions that can quickly send you to the poor house.

3. A little is more than enough

Many people have an obsession with possessions. They are neither satisfied with little nor a lot. The key to personal finance is to respect your financial limitations in every stage of life. There you will find an appreciation for all that you have tangible and intangible.

4. Exist not for the love of money

When money is the only motivating factor, principles and values become flexible. Remember, money is simply there to enable you to live a life in accordance with your values.

Source: U.S. News