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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.
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645 reads
MORE IDEAS ON THIS
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
519 reads
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
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
459 reads
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
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
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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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Other curated ideas on this topic:
This method suggests that you allocate 70 percent of your income to expenses, 20 percent to savings, and the remaining 10 percent to debt.
70:20:10 may work for someone with a healthy emergency fund and minimal debt.
Financial wellbeing can't be measured by only focusing on how much you earn. The gap between what you earn and what you spend is an important figure.
Household savings fell by 30% during a period when median real income rose 40%. Even though Americans earn more than ever before, ...
Reality is our equation is always 'Income - Expenses = Savings' But we should priorities our savings and then we can spend freely on our expenses without any regret.
This mindset will eventually help you to have control over your spending and you will spend your money on things which you r...
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