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In order to optimize the amount of money that you make throughout your lifetime, it can be extremely beneficial to understand money principles at a young age. The younger that you are when you learn how to protect, grow, and invest your money, the better off you will be when it comes to your finances.
In this video, tax expert Karlton Dennis explains 9 money principles for building wealth that he has learned throughout his life. When applied correctly, these principles can potentially help you to manage and invest your money more effectively so that you can live a more financially secure life.
There are many different aspects to managing and investing your money. From budgeting, to savings, to selecting investments, there are a wide variety of skills that you need to learn. Unfortunately, many people do not learn key money principles until they are old. Watching this video can help you to master these concepts before you reach your elderly years.
CHAPTERS:
0:00 Intro
0:22 1: Maintain Awareness of Your Financial Accounts
1:28 2: Live Below Your Means
2:40 3: Avoid Stacking Up Bad Debt
4:07 4: Build an Emergency Fund
5:38 5: Study Investing
6:30 6: Invest Early and Consistently
8:28 7: Diversify Your Income
9:30 8: Get a Good Credit Score
11:04 9: Invest in Tax Strategy
12:29 Subscriber Question
12:57 Outro
*Disclaimer: I am not a financial advisor nor am I an attorney. This information is for entertainment purposes only. It is highly recommended that you speak with a tax professional or tax attorney before performing any of the strategies mentioned in this video. Thank you.
#personalfinance #wealthbuilding #buildwealthyoung
