Explore the World's Best Ideas
Join today and uncover 100+ curated journeys from 50+ topics. Unlock access to our mobile app with extensive features.
1. Always Have a Savings Cushion
We hear quite frequently that sitting on cash is a mistake because of the "silent tax", otherwise known as inflation eating away at it year after year. While this is true, and it is not the best investment to hold a huge portion of cash sitting in a savings account with a low-interest rate, it is essential to have at least a few months of savings on hand to protect yourself in case of an emergency. Without having some savings on hand, you would be walking on a thin line where any event that could happen may place you in a tough position. In the event of a sudden expense, you cannot avoid it.
24
208 reads
MORE IDEAS ON THIS
3. If you Carry Debt, Pay the Smaller Debts off First Before the Larger Ones
I like to think of this as a snowball effect and a consolidation technique. Starting off small and compounding to a large payoff, and eliminating the small debt early on so you can focus on tackling the larger ones. By taking care of the smaller debts first, you are setting small...
25
159 reads
4. Diversify Your Money When Possible
Most people that have any investments most likely have just a 401k and nothing else. While it is a great resource to have, it puts you in a high-risk situation because you are at the mercy of the stock market. It is especially tragic to hear about a couple investing in their 401k for 40+ years an...
25
171 reads
5. Cash is Still King, so Use it Whenever Possible
At the end of the day, cash is still the best form of payment whenever possible. Cash also helps you manage your money better because it is physically on hand and this is what you have to work with. If you can only buy what you can afford in hand, you are more likely to make smarter purchases. By...
25
161 reads
2. Pay Yourself First Before Other Expenses
Make sure you are taken care of first financially, whether it is investments, savings, or having cash on hand for a rainy day before everything else. If you do not pay yourself first, then you are creating a system where you are making everyone else surrounding you a little wealt...
27
196 reads
Personal Finance Tips
It has always been important to have a solid financial plan, especially during times of economic uncertainty. In this list, here are five financial tips that I use on a daily basis that have worked for me and I hope you find value in them as well.
25
294 reads
CURATED FROM
CURATED BY
🙋Am a self taught Digital Creator , Editor 💻 from India 🇮🇳 , as well as a Technologist and a COD Gamer 🎮. Interested in learning📒 new things always for keeping up with the trend .
Tips for Personal Finance and investing money in a better way.
“
More like this
20%: Savings
Finally, try to allocate 20% of your net income to savings and investments. This includes adding money to an emergency fund in a bank savings account, making IRA contributions to a
Dividend Stocks
A dividend stock will usually make a cash payment into your brokerage account every 3 months. Works well as you can take the cash from a dividend payment and use it to buy more dividend stocks.
A dividend yield is how much money you make yearly compared to the share price (see image): ...
Budgeting myths
- Myth - I don't need to budget: A budget focus on identifying all the expenses that are likely to occur during the month, quarter, and year. A budget can identify costs that could be reduced or cut.
- Myth - I'm not good at math: Budgeting software on...
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving & library
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Personalized recommendations
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates