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Aiming for the Good Life! Wednesday, September 26, 2012. 5 Essential Steps in Effective Money Management. Sieving through the core ideas from various literature on financial planning, here are five essential steps to help people manage their finances effectively. 3 Begin with an emergency savings account. 4 Develop an investment portfolio. 5 Have a distribution plan. Money management is not all accumulation, for in the end, wha.
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