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Studies show that individuals who have a written plan are more profitable in attaining their financial goals. The typical problem is that the majority do not actually have an accurate assessment of their current financial situation, i.e. private financial statements that means a Net Worth Statement of the present value of their property and liabilities, and a Cash Flow or Income Statement with the sources of income and a detailed itemizing of all expenses – all the way down to the morning coffee buy!
The highway to monetary success is filled with roadblocks, the largest of which is poor budgeting habits. A shocking number of individuals do not budget, and, consequently most of them are swimming in debt, have little or no savings, and are just …