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A close friend of mine recently worked for a catering company and earned his first salary for a two-day event.
He came back and he spent it all on food, t-shirts and electronics. Before you start thinking that you wouldn’t do that, think again!
More than 80% of the US population lives paycheck to paycheck, this simply means they save very little and spend quite a lot.
Unfortunately, “Personal Finance for Youngsters” is not taught in most schools.
But don’t worry, in this article you’ll find 45 tips that will help you to make better financial decisions and be more financially literate. If that sounds interesting, let’s get started.
45 Personal Finance Tips For Your Financial Well-Being
1. Make Budgeting your priority
Financial expert Dave Ramsey says “A Budget is Telling your money where to go instead of wondering where it went”.
Every successful person has a different style of budgeting but they all maintain a budget to record even the smallest of expenses. This helps them understand the irrelevant expenses and cut them off when needed.
No, Budgeting isn’t rocket science, it is simply laying down your income and expenses to have a better idea of where your money is going every month.
Creating a Budget Planner helps you keep your incomes and expenses organized. Don’t have the time to create one? Go ahead and Grab your Free Budget Template to start your race towards financial literacy today.
2. Save as much as you can
If there is one thing I learned from my country India, it has to be Saving. From childhood, we have been taught that every penny you get or earn should be saved immediately without spending anything.
- Unless it’s a necessity, Don’t spend.
- Do you know how hard we work to earn money?
- You kids nowadays don’t value time and money.
- Don’t leave that One Rupee coin for the Rickshawala, we aren’t rich remember?
- During our childhood, we have struggled a lot to get food on the table. Today you get food cause we work hard to earn our daily bread.
These are a few statements parents and grandparents say to us. Honestly, they aren’t wrong. It is easy to say that you should be spending less but spending less is quite hard.
Getting into the habit of saving is crucial. There is a phrase in the Hindi language “Boond Boond Se Banta Hai Sagar”, this means that each penny has value because every penny collected will eventually lead to massive wealth.
3. Learn Finance at an early age
Finance, especially personal finance, is easy to learn but very difficult to master. That’s why most people fail at it.
The basic concept of saving or the tiny steps taken to ensure you don’t waste money wasn’t taught in schools.
And that is why I am here, to solve all your money issues, to teach you how proper financing can get you to achieve your goals faster, in a systematic manner and ensure that the next time you go for a date, you will have enough in your pocket to not feel embarrassed.
Start reading articles on money management to improve your knowledge in the field.
Related: How To Do A No Spend Challenge in 2023.
4. Have Financial Goals
Creating financial goals is an easy way for you to be in control of your expenses. It can keep you motivated and help you to make better financial decisions.
This will force you to come up with strategic plans to maintain a good budget which will make you reach your goals faster.
I suggest you come up with goals in 4 segments
What you want to achieve in
- The next 3 month
- The next 1 year
- The next 3 years
- The next 5 years
This way you will have short-term as well as long-term goals to work your way towards.
For example, your goals can be
- Making Rs 10000
- Investing in Stocks and Bonds
- Buying a Car
- Buying a House
Make notes of these goals and stick it someplace you can see it every day.
5. Buying used goods is Awesome
I know you want that expensive phone or that premium watch but you can buy them at a significantly lower cost.
How do you ask? Just like you can sell items on Olx you can also buy second-hand goods at lower costs. Platforms like Amazon, Flipkart, and Olx currently allow selling refurbished goods to customers who need them.
These work just as well as new and you save a lot of money.
Sounds like Money In The Pocket, doesn’t it?
6. Don’t overspend on holidays
Everyone loves a vacation far away from daily hassle, out in the open with friends and family.
Most often you make a list of your expenses, plan everything properly and end up overspending cause you didn’t calculate unnecessary expenses, feeling guilty that you have no money left.
One major spend observed was self-gifting which is gifting yourself when buying gifts for others. This is surely unnecessary and can be avoided.
Not only do you spend all you have, you end up overspending (i.e using your credit card limit and assuming you will pay it easily next month). This leads us to the next point.
7. Do Not Spend more than you earn
Yea I know that you are young and your friends are splurging all their money on luxurious items they don’t need. You crave to buy those expensive items to not look inferior among them.
But look Spending more than you Earn just creates unnecessary debt and at an age where you should be accumulating money for your future needs.
You need to track your spending habits, you can use our free budget template for monitoring your finances.
The faster you learn to identify the difference between ‘Needs’ and ‘Wants’ the better you position yourself in the path for financial freedom.
SO DON’T OVERSPEND USING YOUR CREDIT CARD. Spend some, Save some, Invest some – The Key to Financial Success!
8. Start a Side Hustle
Let’s say you make Rs15000 a month, even if you spend 30% of your income and save 70% which will be Rs 10500, it will take you quite some time to achieve Financial Freedom.
Why not start a side hustle to supplement your primary income? Starting a side hustle by merely working about 4-5 hours a week can benefit you immensely in the long run.
It creates a second flow of income. If you consistently grow your side hustle, you can easily make more than your primary job and have enough money to spend and save for your future.
The best thing about side hustles is flexibility. You can work for as little as an hour a week to as much as 10 hours a week, or maybe more, the choice is yours.
Don’t worry most side hustles don’t require a lot of effort or some unique special skill set, They just need the right approach to make money.
Confused about which side hustle suits you? Check out our blog on Best Side Hustle You Can Start Today!
Don’t worry these side hustles don’t require a lot of effort or some unique special skill set. I have listed only those that anyone and everyone can do easily and that do not require a lot of time and investment.
9. Start Investing
The savings account offers an extremely low rate of interest. So to earn more and make your money multi-folds start investing in funds like Sip’s, Mutual funds, stocks, Dividends, Bonds, etc.
Investing can be the best way you can increase your net worth. If you want to invest some amount each month in the market, creating a SIP(Systematic Investment Planning) is considered much better in terms of ROI.
Its track record certainly proves to be better than RD (Recurring Deposit). The risk incurred is generally medium although risk can be adjusted according to the age and choice of the customer.
The Basic Principle to follow is that the Earlier You Start, The Better your Returns Will Be.
In the short run, you might incur losses but in the long run, the grass is evergreen. Investing is a great long-term strategy to let your money grow multi-folds.
10. Create an Emergency Fund
Life is uncertain. At any point, anything can happen in your life or in the lives of the people you love.
God forbid but someone in your family got ill or your partner/friend needs urgent cash or you met with an accident and your car is damaged but the fact is you don’t have savings cause you spend all you have.
At such times, having an emergency fund proves to be of great help and keeps you stress-free.
Most people suggest calculating your monthly expenses and multiplying them by 3-4 months keeping that aside in another account but According to CNBC, Shark Tank Billionaire Mark Cuban says that an emergency fund should be calculated based on the expenses of 6 months.
Save this money in a trusted savings account where the interest rate is medium-high.
Benefits of an Emergency Fund:
- It helps you by not relying on Credit Cards for instant money.
- You don’t have to deal with stress of any kind.
- You also don’t need to depend on anyone for instant cash.
- Most people liquidate their investments and assets during an emergency, luckily you don’t have to, cause you to have an emergency fund!
Remember unless extremely necessary you shouldn’t exhaust your Emergency Fund. It is like a hidden treasure only used when of utmost importance.
11. Buy a Health Insurance Policy
Today due to ever-increasing medical expenses and new diseases affecting people, it is essential that every family should have a health insurance policy suited to their specific needs to ensure the need for money when utmost necessary.
Some benefits of a health insurance policy include
- Provides security
- Availing Cashless Hospitalization
- A cost-effective way of healthcare
- Provides great Tax Benefits
So to keep yourself safe and secure during critical times, it is advisable to invest in a good health insurance policy for you and your family.
12. Learn Debt Paying Strategies
So you have Debt! I wish you could go back in time when you didn’t have debt but now that you do, learn about how you can get rid of it soon.
I’ll teach you the two most common and useful debt-paying strategies, Debt Avalanche and debt Snowball. If you have multiple debts piled up, these will help you smartly pay them off.
The debt avalanche is paying off the debt with the highest interest rate. So if you have three debts – $7000 at 6%, $2500 at 9%, and $3000 at 12%; by following the Debt Avalanche Method, you’re going to target the debt with 12% interest first, then 9% then 6%.
Debt Snowball is different, here you target debts based on the total value of the debt. By following this method, we’ll target $2500 first, then $3000, and then $7000.
The debt avalanche is for those who like to be more practical and calculative and are less emotion-driven while tackling debt whereas Debt Snowball is for people who tend to get emotional and stressed due to debt.
Paying off the smallest debt initially brings victory thus motivating the debt payer to continue making regular payments.
If you’re still confused about which Debt Paying Strategy you must adopt, check out my Blog Post on Debt Avalanche and Debt Snowball.
13. Shift Your Focus To Only Cash Transactions
Technology has changed our lives for the better and the worse. Back in the days when credit and debit cards didn’t exist, people used to spend less because they used to pay cash.
Guess what, stop using those cards and use cash instead. Pay cash at the grocery store and shopping stores.
If you’re consistently overspending, you have no limit on your urges, it’s time to shift to cash-only transactions.
If you have 100 bucks in your wallet, there’s no way you’re going to spend more than that. You’ll likely spend less than 1,000 thinking that you may need some cash for unexpected expenses on the way home.
It’s a simple trick that always works.
14. Follow a Budgeting Strategy
If you don’t know how much to save, how much to invest and so on, choose a budgeting strategy and follow those principles.
Let’s say you choose the Zero Budgeting Strategy or you choose the 50-30-20 budgeting rule.
Now read about how these strategies work; for example, in the 50-30-20 rule of budgeting, 50% is allocated to needs like food, clothing, shelter, and transportation, 30% to wants like dinners, movie day, and fashion accessories and 20% is for savings.
This gives you a borderline to stay in. Spend only 80% and make sure you save 20%. There are many variations in this Budgeting Strategy too like 40-40-20 or 90-10 or 70-30.
Basically, they all have the same logic, just different numbers depending on living situations.
One person may have debts to pay and that may equal 80% of this salary, 15% may go for living expenses, and the rest for savings.
So follow one such strategy, and customize it slightly to suit your preferences.
15. Appreciate The Tiny Purchases
The minute you start appreciating the small purchases you make, the sooner you’ll find happiness and realize that you don’t need expensive, large, and fancy things to put a smile on that face.
It can be chocolate, or a rose, or spicy food
16. Watch Finance/Business News Channels
If you have TV channels, especially business news channels, try finding out if they have weekly finance talks.
I’ve seen investment and business news channels having sessions for an hour a week where they talk about budgeting, investing, and anything that can help an individual be financially literate.
If you’re a beginner on this journey, I highly suggest you scroll some channels and find out about these shows.
The speakers here aren’t normal broke people usually they are financially way ahead of us all and they’re knowledgeable. You’ll benefit a lot just by listening to these shows.
17. Avoid Impulsive Buying Habits
Impulsive buying is a drug, a very serious drug. Here’s a fact, the things you buy on impulse are usually the ones you don’t need and the ones you’ll probably regret buying.
You’ll buy something once, then you do the same again and again, the cycle continues and your money in the bank reduces. Some bloggers say that impulsive buying has its benefits but I won’t agree with this.
I’ve seen my friends buy items on impulse decisions and it’s never good. Never! If you want to buy an oven, instead of impulsive buying it, think about it, make a pros and cons list (if needed), and compare multiple ovens.
Find the best one, then purchase it. There are a few problems with impulsive spending and you’ve got to stay away from it, at least if you don’t want to spend money on a financial advisor!
18. Craft a Financial Vision Board
Do you have a pen and paper? Awesome! Let’s create a simple financial vision board. You’ll need all the motivation you can get to reach your financial goals so a good way to touch the finish line is through a vision board.
Want to take this up a notch? Buy a whiteboard and position it at eye level at your house. This way you’ll look at it multiple times a day and the chances of accomplishing your goals go up by 42%, says the research, not me!
19. Negotiate Your Salary Like A Professional
Do you have any Kung Fu Skills to negotiate your salary? What I mean is, do you have any skills that will give you a higher salary? One trick is to let the employer put forward his salary and then you negotiate from there.
The problem with you stating your price is that you never know if you’re asking for more or less, the better approach is to let the other person give you a price, and then take it up from there.
Why just salary, negotiate your work hours, your holidays, your maternity, paternity leaves, or a better job profile?
I’ve written an article on How To get the Raise You Deserve, reading this should solve all your salary-related problems.
Sage Tip: If there’s one thing to note, it’s that a confident employee gets many benefits. Be confident and put a smile on your face, a job raise will likely be in your favor.
20. Don’t Ever Choose Debt Consolidation
If you’re in debt, I’m sure you’ve heard of Debt Consolidation. Debt consolidation is an option that promises to reduce your debt burdens and make your life peaceful.
Basically, it combines all your debts into one single debt payment, reduces monthly payments, and sometimes lowers the interest rate.
Doesn’t this all sound too good to be true and a steal? Well, it’s far away from a good deal. Debt consolidation companies unlike any company is company, need to make money, and they make their money from debt payers like you.
By offering lower interest rates and smaller debt payments they’re luring you for a longer period. Let’s say your loan period would’ve ended in 11 years, now by consolidating your loans, your loan amount will end in 16 years.
The concept is to make you think you’re paying less, but in reality, you’re paying more than what you were initially paying.
Only consolidate your debt if you are in no condition to pay the monthly installments and if your financial condition is bad right now.
Note: Consolidation Loans won’t eliminate debt, it’ll just make it easier to pay debts. There’s no shortcut to pay off debt, just strategies.
21. Find A Savvy Buddy
The more the merrier, right? If you merge your money goals with your friend or wife, your journey should get easier. You’ll both learn a few things from each other and get motivated to continue working on your financial goals.
I won’t recommend joining hands with many friends, You + One is enough, by including more people in your pact, you’re risking one of their backing thus creating a negative atmosphere.
22. Read My Guide To Save Money On Groceries
You read it right, I’ve written an extremely detailed guide, it has 29 points to save money on groceries. I’ve written down as many practical points as I can in the article.
If you want some great grocery-saving tips, I highly suggest you check out the best ways to save money on groceries.
23. Social Distance From Toxic Friends (Period)
I have a few friends who love to spend, they’ll spend all they can without really thinking about the cost and the long-term impact on their pockets.
I’m not like them, I won’t spend unless I need the item. I also spend on wants but to a limited extent. This depends on my budget.
I understand, If they buy things and you don’t, it makes you feel inferior. Instead of trying to be a spender like them, ignore them.
Yea, it sounds bad but staying with them will not bring any good to you. Only bad money habits.
You have aspirations, goals, and dreams, you are a person of high value, and you don’t need things that take you far away from your goals.
24. Break The Traditions
Sometimes traditions cost us money, I’ve seen a few wedding traditions that cost big money. Some old traditions also focus on buying a house rather than renting.
Some talk about not doing two jobs in a day or stopping Saving money and starting spending (yeah I’ve heard that tradition too).
So if you and your family are following such practices, I don’t suggest you stop these right away, try understanding the logic behind these, and if it seems relevant you can continue to follow them.
Read More >>> How to Save Money On Weddings
25. Shop for Clothes Only Twice A Year
How often do you shop for clothes or shoes? Please don’t tell me if it’s once a month! It’s a crime and I don’t want to bear witness to such crimes.
Window shopping is a funny concept, you browse through all the clothes in the fancy shops and don’t buy anything.
It has a scientific logic, so it makes sense but the problem is once you’re done with window shopping, you’re ready to make a purchase be it within your budgeting limits or not.
You buy things you don’t even need cause window shopping has pumped you to the core and now you’ll buy anything to satisfy yourself.
Restricting your fashion shopping to twice a year is ideal, once in June and once in December is what I follow. You’ll save money and time, and your buying habits will improve, i.e. you’ll be financially more stable and smart.
26. Circle Yourself With Positivity
A positive mindset is not a devil’s workshop. Being good with money requires discipline, a sensible mind, and rational thinking.
Keep productivity books on your desk, some good energetic money quotes to get you going, less clutter, and more free space.
A good environment that motivates you to work more, produces more output. Surround yourself with positive people who bring out the best in you.
This doesn’t save you money directly but has an indirect effect on your mindset, and in the world of saving – mindset is the key!
27. Follow The 20% Principles Of Investing
The 20% Principles of Investing is based on diversification. The rule of 20% states that in your investment portfolio, no investment must exceed more than 20%.
Let’s say you have stocks, gold, real estate, forex, and art collectibles. The rule is that stocks should not exceed 20% of your total investment value, the same goes for forex real estate, or art collectibles.
If you want to exceed the 20% mark on investment, be sure to de-risk it, like let’s say you want to buy more stocks, now you choose those stocks that rarely (if ever) go down in value, usually blue-chip stocks (large-cap stocks).
These are safer and less risky compared to other stock investments. The 20% rule is best if you’re a total beginner on investments.
If you only invest in real estate or you only invest in stocks, consider diversifying into new investments to reduce risk and increase profits.
28. Create A Retirement Account
You can’t depend on anyone to secure your retirement, not your job and not the government.
It’s best to assume that your retirement problems are in your hands. The process is simple and if you’re ready to start saving for retirement, I’m here to help.
I’ll list down 4 steps to get you started on your retirement planning journey:
- Know Your Retirement Age
- Determine Spending Needs and Wants
- Create A Health Insurance Policy
- Put Money In Your Retirement Savings Account Each Month
It’s never too late to start retirement planning.
So if you haven’t started with your Retirement planning yet, prepare a plan, figure out the amount you’re going to contribute each month for retirement, and then consistently do it.
If you’re confused about some aspects or don’t know how to start, I have an in-depth guide on retirement planning to help you – A retirement planning guide.
29. Don’t Cash Out Your Retirement Funds
This is even more important than creating a retirement account!
If you have started the process of allocating a small sum of money each month for your future, you’re way ahead of 87% of the people worldwide.
This money is for your future, specifically for your retirement. Don’t be under the impression that you can withdraw this money anytime you have an urge to spend on a unique experience or a piece of expensive jewelry.
A retirement fund is a safe haven for you only after you retire and it should stay that way. If you need money for unique experiences or expensive items, budgeting is what you need to start.
A good budget always has space for entertainment purposes. Worst case if you really really need to spend on something, you could take out some money from your Emergency Fund. But that’s the worst-case scenario.
30. Invest In Yourself
Investing doesn’t only mean buying shares in the stock market or making massive returns on rent from your property. It’s about learning things to expand your knowledge.
If you don’t know, guess what – you don’t know! The more you learn, the more opportunities come up in front of you, and the more money you can make.
It’s a simple formula almost everyone neglects. They skip the step of investing in themselves and assume they’ll get success and double their money.
Maybe you want to make money by starting a business, then start learning about how a business operates, and learning basic business skills will be beneficial.
Investing in yourself starts with writing down your most important tasks, and then accomplishing them.
Using a to-do list software like the Todoist App will massively benefit you. These software are focused on helping you achieve your tasks and goals so pick one and get started!
31. Buy Two Or Three Credit Cards
I didn’t say splurge money with your credit cards. I only said to buy 2 or 3 credit cards. But why?
Because I want you to improve your credit score and if you don’t have credit cards, your credit score is zero.
Your credit score is like your health, good health is essential, similarly, a credit score will help you get money from the bank.
Some benefits of good credit scores are:
- Lower interest rates charged by banks
- Easy to get approved for loans
- Better credit card incentives and added benefits
Here are two articles that will help you understand credit scores better
32. Buy Assets, Ditch Liabilities
If there is one thing you can remember from the article, this is the one you must remember. What is an Asset? An Asset is anything that puts money into your pockets.
Liability is something that takes money out of your pockets. Most people believe they buy Assets when in reality they buy liabilities they think are assets. How do I learn this?
Through a very famous book called Rich Dad Poor Dad. I’m sure you’ve heard of this book, and probably read it too. If you haven’t already, order the book right now and learn everything this has to offer.
This book will teach you the basics of personal finance in simple words. Anyone can understand the concepts of this book, it’s that simple yet so effective.
When you rationalize things into assets and liabilities and focus on avoiding liabilities, your net worth starts growing and your financial life gets better.
33. Spend Money On Business Ideas
I’m not forcing you to spend money on an idea but suggesting that if you believe in the product and you think it can take off, spending some money on it isn’t wrong.
The initial equity in the business is sweat equity i.e. hard work and time devotion but to run a business you need to spend a minimum just to touch the ground. Don’t hesitate to do that. Spend when necessary but limit your spending.
34. Have A Frugal Mindset
What does being frugal mean? Saving money for the Future? To be a frugal fanatic you need to dig deep into this aura. For that, you need to have a frugal mindset.
After all, it’s all about how we think, how we observe and learn from our surroundings. If we don’t have a strong frugal mindset, that daily cup of coffee from Starbucks won’t be a thing of the past.
It’s easy to say that you’re going to be frugal but the real test is when your mind is ready to accept the frugality in you, that’ll happen with a frugal mindset.
Here’s a step-by-step method for getting into the Frugal Zone:
- Read and Educate yourself on financial well-being. (Books to read – Rich Dad Poor Dad, I Will Teach You To Be Rich, The Total Money Makeover, The Richest Man In Babylon)
- Question Everything you plan on buying
- Learn To Reject and Say No
- Avoid debt & Pay Off any Existing Debt
- Unsubscribe From Store Emails
- Spend Once A While
35. Get A Life Insurance Policy
Why not get a Life Insurance Policy? It’s the most sensible thing to do. But if you’re still not convinced, let me change your mind
- To ensure your family has money if something happens to you tomorrow
- Basic life insurance policies are inexpensive but extremely valuable
- To finance your child’s education
- To avail of Tax benefits while paying a premium for a life insurance policy
If you have a family, there’s no doubt in my mind that you should opt for a life insurance policy. I won’t say anything more!
36. Rent If You’re Tight On Budget
If given a choice, would you rent or buy a house? Most people would say buy for obvious reasons like owning a house but renting has its perks too, you can change your location instantly without much hassle and costs.
If you like to stay in different neighborhoods or different states, or maybe if your job requires you to travel a lot, renting is preferable for you.
\I’m not against buying your own house, it’s an amazing feeling and you feel rich but if you’re currently short of money, if you don’t have enough to afford at least a 15% down payment, I don’t think buying is the best option for you.
Rent rates are much cheaper and cost-effective. You can almost always find lower rent rates and it’s flexible.
The excess money you’ll have saved (if you prefer renting over buying) can be invested in medium-risk investments.
37. Don’t Buy A New Car
According to Statista, the average number of cars owned by a family is two. Google how many cars will you use in your lifetime and numbers like 4-6 will be on your display.
That’s a lot considering the cost of a car today. And I’m sure if a family can afford to buy two cars, they’ll not buy the cheapest cars out there.
So the question is why do you want to spend a good amount of money on a vehicle when you can save that money, invest it buy a house, or go on vacations in the future?
Owning one car seems logical, two cars aren’t really logical unless you’re wealthy. We didn’t even discuss car maintenance and repair costs which I’m sure isn’t cheap (I’m sure you can relate).
38. Don’t Keep Your Bank Accounts Empty
If you make a five-digit salary and you don’t have anything in your bank account, you have a serious spending problem. Bank accounts are created to store money, and to have access to instant cash.
Even if you don’t face any cash-related problems, I still urge you to keep enough money in your bank accounts. Investing is important and necessary but that doesn’t mean you invest every single penny you make.
39. Talk To A Financial Advisor
I wish I could but to talk to each one of you personally for an hour but that’s not easy. So If all these tips seem overwhelming to you, talk to a financial advisor.
It’s easier and they’re usually not that expensive. Especially if you’re using a financial advisor for managing your investments. They’ll give you free valuable advice, follow that and I’m sure it’ll benefit you.
40. Invest in Certificate Of Deposits/Fixed Deposits
I like taking risks but I also prefer investing in extremely safe and little to no-risk investments. Certificate of Deposits or Fixed Deposits is such investments offered by banks to their customers.
It’s safe and the interest rates are better than saving accounts.
The returns might be lesser when compared to stock investments or real estate investments but the real benefit is that they have no risk involved. So your returns are guaranteed!
41. Start Walking
Walking has many benefits including better cognitive abilities, relaxation, stress relief, reduced risk of heart disease, makes you happy, and the list goes on and on.
How does walking affect personal finance? It doesn’t. Walking makes you feel good and when you feel good you do good a good habit is to save money and work more to make more.
Also, you get many ideas and new ways to excel more. It might seem like a bad point but start walking and I’m sure you’ll see its benefits.
42. Fill Surveys To Earn Some Cash
Do you want an easy way to make money without having to use any special skill whatsoever? Fill out some surveys. It’s an easy way to earn money and it doesn’t even require any skills.
All you need is a phone or a laptop. If you want the best survey sites to make the most money out of your time, here’s an article on the 15 Best Survey Sites To Make Money in 2023.
I would suggest you pick 3-4 of these and fill them out. Relying on just one or two of them may not be money-making.
43. Take Finance Related Courses/Seminars
Google “Finance Seminars” and you’ll find dozens of seminars, both free and paid online. These are valuable and will help you to manage your finances efficiently.
Of course, this too can be avoided if you read my articles and other finance-related articles on the web.
So if you want to cut costs and have a will to read and learn, my blog and a few other blogs on the internet should help you solve most of your financial problems.
44. Understand The Basics Of Taxes
Woah Woah! Before you hit back on his post, let me warn you that tax isn’t rocket science. It’s addition, subtraction, multiplication, and division.
45. Find Your Net Worth
Your net worth is what your value is as of the given date. To calculate your net worth, add up all your Assets and subtract it from all your Liabilities.
Assets include cash, investments (stocks, gold, real estate, etc.), and anything else that is valuable and people are willing to pay for.
Liabilities include loans, basically anything that you have to pay to someone. Your goal has to be to always try and increase your net worth.
The Best Financial Advice I Can Give You
Finance is not an easy subject to grasp, but learning and implementing the tips and tricks mentioned above can surely take you to your goals faster and guarantee your financial success.
Start Taking Action Right Away and Achieve Your Financial Dreams. m
Every person, be it a boy or a girl, tends to spend their entire first salary as soon as they get it. If you don’t YOU’RE AWESOME!
The desire to purchase anything with the money we earn often gets us blind into purchasing goods and services that might not be valuable or may be of little value.
We millennials make a lot of mistakes when it comes to finances. We feel that creating a financial budget is for oldies and we need to relax and spend all our money right away.
A Financially educated person should know what his expenses are, how much can he save in a month, what his earning potential is, and how he can invest his money to receive maximum profits.
Let me be quite honest with you, simply reading these personal finance tips and closing this page won’t help you in your journey.
You need to put in the sincere time and effort to master it.
If you think these tips can help you, bookmark this page or pin it on Pinterest write down these points on a page and stick it on your cupboard, revisit it multiple times every day till it becomes a habit.
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