5 Personal Finance Tips Most People Wish They'd Known When They Were Younger | My Money Coach - Deepstash
5 Personal Finance Tips Most People Wish They'd Known When They Were Younger | My Money Coach

5 Personal Finance Tips Most People Wish They'd Known When They Were Younger | My Money Coach

Curated from: mymoneycoach.ca

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2 Basic Rules Of Financial Decisions

  1. Carefully evaluate any financial decisions you plan to make.
  2. Ask for advice before finalizing your choices. Seek out people and sources you trust to help you.

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5 personal-finance tips for young people

  1. Start saving early to have a good start on building retirement savings before beginning a family and career.
  2. Understand that credit cards are not a safe net, using it may lead to debt.
  3. Buying life insurance when you’re young ensures you’ll get lower premiums and potentially avoid costs if it has a grandfathering clause.
  4. The cost of buying a car might mean you’ll have to delay buying a house.  Look at your budget carefully and test drive additional payments for 6 months if you think you can do both.
  5. Plan how to avoid impulse spending to avoid debt and distress. Set a waiting period proportional to the price of what you want to buy. Anything worth having is worth waiting for.

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IDEAS CURATED BY

lil_ww

"In fact, the confidence of the people is worth more than money." ~ Carter G. Woodson

Lilliana W.'s ideas are part of this journey:

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