Understanding Your Financial Situation

Before you even think about investing, you need to know where you stand financially. This means taking stock of your income, expenses, and existing debts. Create a budget to see exactly where your money is going. Knowing your net income (income minus expenses) will help determine how much you can realistically allocate to investing. Tackling high-interest debts, like credit card debt, should be a priority before investing heavily, as the interest you pay can quickly eat away at potential investment gains. Understanding your financial health is the bedrock of successful investing.

Setting Your Investment Goals

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