Finance 101 - Deepstash

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1. Budgeting Basics:

1. Budgeting Basics:

Income vs. Expenses: Understand how to balance what you earn and what you spend

Needs vs. Wants: Differentiate between essential expenses and discretionary spending

Savings: Allocate a portion of your income to savings and emergencies.

27

642 reads

2. Debt Awareness:

2. Debt Awareness:

Interest Rates: Comprehend how interest affects loans and credit cards

Credit Score: Learn how financial behaviour impacts your credit history

Avoiding Debt: Practice responsible spending to avoid unnecessary debt.

24

517 reads

3. Investing Insights:

3. Investing Insights:

Compound Interest: Understand how your money can grow over time with investments

Asset Allocation: Learn about different investment options

Risk vs. Reward: Grasp the relationship between risk tolerance and potential returns

25

458 reads

4. Financial Goals:

4. Financial Goals:

Setting Goals: Define short-term and long-term financial objectives

Budget Alignment: Align your budget with your goals to achieve them

Monitoring Progress: Track your financial journey and adjust as needed.

24

402 reads

5. Tax Fundamentals:

5. Tax Fundamentals:

Taxation Basics: Learn about income tax, deductions, and credits

Filing Process: Understand how to prepare and file your taxes

Tax Responsibility: Recognise your tax obligations as a citizen.

25

388 reads

6. Emergency Preparedness:

6. Emergency Preparedness:

Emergency Fund: Establish an emergency fund for unexpected expenses

Insurance: Learn about different types of insurance and their importance

Financial Resilience: Prepare for financial setbacks and crises.

25

438 reads

IDEAS CURATED BY

gaurav_37

#gratitude

CURATOR'S NOTE

Financial literacy is a crucial life skill Equip yourself with these six money lessons you need to learn before turning 18:

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