Hey, lovelies! Let’s talk about something super important that often gets overlooked—financial literacy. I know, the term might sound intimidating or even boring, but trust me, it’s your golden ticket to independence, confidence, and making smart life choices. So, I have some basic rules to follow that is the easiest and most important ways to up your financial game!
Be careful with borrowing money, especially if you have to pay back a lot of extra money (interest).
Create a plan that shows how much money you get and how much you spend. This helps you see where your money goes.
Set aside a part of your money as savings. Try to save at least 10-20% of what you earn.
Put your saved money into different things that can make it grow, like stocks or real estate. Be patient, as it takes time.
Save some money for unexpected things like medical bills or losing your job. Aim to have enough to cover your living costs for a few months.
Don’t spend more money than you make. Stick to buying what you really need, not just what you want.
Set up automatic transfers to your savings and bills so you don’t forget to save or pay your bills on time.
Decide what you want to do with your money, both in the short term (like a vacation) and long term (like retirement).
Regularly look at your money situation, adjust your plan as needed, and see how your investments are doing.
Pay your bills on time and use credit wisely (like credit cards) to keep a good credit score, which can help you get better deals on loans.
Think before you buy things. Don’t buy something just because you want it; think if it’s necessary.
Keep learning about how money works and how to make smart money choices.