Learn more about moneyandinvestments with this collection
How to prioritize tasks effectively
How to manage your time efficiently
How to reduce stress and anxiety
Emergency Fund: Savings 101
You may be enjoying the freedom not having to think about next paycheck brings to your life and start saving, building an Emergency Fund. Eventually, when you have enough cash to survive a year (people recommend 3-6 months) without working, you’ll stop hoarding cash and start investing and/or paying back your debts, sending your money to work for you thanks to the immense power of compounding.
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Financial Intelligence
Financial Intelligence is awareness. Knowing the basics before trying to control them. Do you know what’s your Net Worth? Do you know what’s your Cash Flow? Your Incomes? Your detailed Spending? Do you know what are the interest rates of your liabilities? Do you know your actual ...
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421 reads
Boost Your Earnings
You may also work on the earning side of the equation: once you ‘stash a year of salary you may consider working part time and take some classes or learn a new skill or start a side gig to boost your earnings. You may realize your commute takes too much time and it’s costing you ...
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Financial Freedom
Financial Freedom means removing money from the equation.
True financial freedom is when you have almost military grade security measures against unplanned events. Rock solid financial integrity with a monthly budget well beyond your most desirable spendin...
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Financial Integrity
Financial Integrity means taking actions. Once you have a good picture of your situation, it’s usually easy to find and grab low hanging fruits. So, strategies like cutting superfluous expenses come natural and they are easily implemented.
What will happen when you start t...
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281 reads
Financial Independence
Financial Independence means tasting freedom. You no long have to work to maintain your lifestyle, since your money are working for you instead. Your passive incomes (like stocks appreciation, dividends, rental properties income,…) cover your living expenses and you’re free to ch...
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200 reads
Freedom From Exchanging Time For Money
Freedom here stands for freedom from selling your time for money. You no longer need it. You’ll rely on your passive incomes robustness, like betting on average market returns of 7% per year (inflation adjusted) on the long run or a combination of good tenants, rent/house appreci...
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True Financial Freedom: The Rule Of Free
- Make all spending decisions as if the price were $0.00
- Make all work and income decisions as if the wage were $0.00
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Understanding the level of financial Independence.
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Consider the size of your emergency fund
Calculate the minimum amount you could survive on if things got tight, then multiply that amount by three. That is your starting goal for your emergency fund.
Eventually you'll want to save enough to live on for three to six months if you had to.
Create an Emergency Fund
You can't predict an emergency, but you can prepare for one. The best way to do so is to set up an emergency fund of 3-6 months of living expenses.
Common financial emergencies include job loss, natural disasters and car, house and health issues.
Put Your Money On Autopilot: Savings
Start by saving a certain amount every month from your paycheck (using automatic transfer), and also work towards building or completing your emergency fund.
Clear any high-interest debt you may have and also save money on your next life goal, like buying a house or a car.
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