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Get your money in balance. One rule of thumb is 50/30/20. Spend about 50% of your money on must-haves - things like rent, car payments - and about 30% on wants, while 20% should go toward savings and paying down debt.
Elizabeth Warren
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Elizabeth Warren
Age: 75
Born: 1949
Born: June 22
Economist
Jurist
Lawyer
Politician
Teacher
United States Senator
University Teacher
Writer
Oklahoma City
Oklahoma
Elizabeth Ann Warren
Senator Warren
Elisabeth Warren
Toward
Rent
Spend
Payment
Balance
Savings
Wants
Paying
Money
Saving
Haves
Must
Debt
Payments
Things
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Thumb
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People feel like the system is rigged against them, and here is the painful part, they're right. The system is rigged.
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Cars, toys, aspirin, meat, toasters, water - nearly every product sold has passed basic safety regulations well in advance of being marketed and sold. But consumer credit is a kind of buyer-beware, wild west. That is partly the result of history.
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My response [to fear of being poor]was to study contracts, finance, economics, to plan, to have a goal, to work on that goal. To learn everything I could. I always poked at the things that scared me most.
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I hear all this, you know, 'Well, this is class warfare, this is whatever.' No. There is nobody in this country who got rich on his own - nobody.
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Once kids get older, the list is longer. So here goes: Stay out of debt. Sometimes debt is necessary, to buy a home or to get an education, but not to buy a sweater or to eat out.
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Refinancing won't fix everything that's broken with our [American] higher education system. We've got to bring down the cost of college. And we need more accountability for how schools spend federal dollars.
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Say good-bye to Dodd-Frank and all of the financial reforms and efforts to try to rein in Wall Street. Just say good-bye to it. That means we can go where Wall Street gets to call the shots again. We saw how that worked out in 2008.
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We lose eight children and teenagers to gun violence every day. If a mysterious virus suddenly started killing eight of our children every day, America would mobilize teams of doctors and public health officials. We would move heaven and earth until we found a way to protect our children. But not with gun violence.
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Nobody's safe. Health insurance? That didn't protect 1 million Americans who were financially ruined by illness or medical bills last year.
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I talk to nurses and programmers, salespeople and firefighters - people who bust their tails every day. Not one of them - not one - stashes their money in the Cayman Islands to avoid paying their fair share of taxes.
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Сount dollars, not pennies. Look at the big-ticket items, in your budget.
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