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We can get out of debt by putting money back and start saving it instead of spending it.
TIME IS MONEY!
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Having an emergency fund can help us in a time of need and can save us from debt. It can also teach us how to manage our money and understand our financial behavior better.
By: Kasey, Zyyayre, Jyrell, and Kayla
The five steps to financial success!
When buying a car or a large purchase we can start a "Sinking Fund" which is saving money over time for a bigger purchase. Never take out a car loan, it could lead to debt. You need to calculate the expected of the item and how long you have until you need to purchase it.
The Fifth Foundation
Lastly we should build our wealth up, discipline is the key ingredient when it comes to wealth building. Saving your money is important to building wealth and having a happy retirement.
A good way to start paying for college is to save your money at an early age. You can start a college fund or "Sinking Fund" by saving your birthday and Christmas money and putting it in the bank instead of spending it on something you don't really need. A good and easy way to save money over time is to make a budget and save a certain amount each year.