Personal Finance: Wealth Creation
Savings = Income - Expenditure, i.e. increase your income & decrease your expenditure to increase savings.
Follow budgeting principle:
- Needs: 50% of Total Income,
- Wants: 30% of Total Income,
- Savings: 20% of Total Income.
Smart ways to save more:
- Keep your emergency fund in a separate bank account to avoid using it accidentally,
- Stop/minimize using credit cards,
- Stop falling for impulsive purchases.
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[1/4] Personal Finance is a very crucial concept that is often ignored. This is an attempt to spread awareness related to personal finance.
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