Learn more about moneyandinvestments with this collection
How to set new goals
How to take action towards a new life
How to create a plan for change
From the day you start saving, put a reminder on your calendar once a week to work for one hour on your finances in some way. It could include reading, balancing the accounts, optimizing cash flow, researching funds, etc.
There is no right number of times to check on your account. If you feel the urge to make decisions based on the news or market changes, limit how many times you look at your accounts. With experience, you will gain more control.
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Don't get worried when the market starts turning red.There have been a few corrections in the market, but they typically recover in a few days or weeks.
There are times you may want to get rid of a fund or stock, but small changes in the market are not a time to panic.
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Once you understand where your money is going and what is left for savings, you may feel demoralised. Even though the amount is small in the first few months, you may be surprised by how much your balance grows in six months or a year.
The power of compound interest is wha...
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One of the most challenging aspects to change your finances is getting started.
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It takes time to learn and improve your financial IQ, but it is certainly not that hard.
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Set a timer on your watch or phone, to limit the amount of time you spend on social media. Choose a limit depending on the severity of your addiction β say an hour a day, which equates to seven hours per week β and whenever you check your accounts, start your timer going. When you reach your limi...
It takes time to learn and improve your financial IQ, but it is certainly not that hard.
Whenever you feel like you are spending way too much time on your screen, consider setting clear boundaries: it is not the same to work and to just waste your time by watching things that might even end up increasing your anxiety.
Therefore, try using a separate device for work and person...
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