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Paying bills on time is essential to maintaining good credit scores. Missing payments can lead to late fees and damage your credit score.

• Create a budget that accounts for all income and expenses. Track your spending to identify areas where you can cut back.
• Prioritize high-interest debts, such as credit card balances, over low-interest debts like student loans or mortgages.
• Consider consolidating debt into a lower-interest loan or balance transfer credit card.

Adequate savings is crucial for unexpected expenses and financial emergencies. Aim to save at least 3-6 months' worth of living expenses in an easily accessible savings account.

Creating a Long-Term Financial Plan

Create a comprehensive financial plan that includes short-term, medium-term, and long-term goals. Set specific, achievable targets for saving, investing, and paying off debt.

• Dream big: set financial goals such as buying a home, starting a business, or retiring early.
• Break down large goals into smaller, manageable tasks to avoid feeling overwhelmed.
• Consider consulting with a financial advisor for personalized advice and guidance.

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