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You need to be responsible for yourself: to be able to meet emergencies, be able to retire without counting on support from
someone else, to pay for children's expenses and save for their education, to be able to fix the car when it dies, to be able
to pay for health insurance and medications, or to get by if you lose a job. You can't do that if you owe your soul to the
company store, or lenders.
The key to a sound financial plan is to understand how to balance income and expenses. The most important
think is to have a budget that allows you to live on less than you make. To budget to be able to set aside money to
cover the things that don't come up every month, but will come up if you are a typical American. Things like buying
clothes, medical issues, car repairs, replacement of appliances, vacations, etc.
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