Build up that savings account - Deepstash
No More Broke

Learn more about moneyandinvestments with this collection

Identifying and eliminating unnecessary expenses

How to negotiate better deals

Understanding the importance of saving

No More Broke

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Build up that savings account

Build up that savings account

You have to have liquid assets to take care of things when life inevitably gets in the way.

Most of the time these “emergencies” are things you should plan on happening periodically. 

860

3.16K reads

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Saving is more important than investing

Pay yourself first is such simple advice, but so few people do this. 

The best investment decision you can make is setting a high savings rate because it gives you a huge margin of safety in life.

1.04K

4.58K reads

Know where you stand

Everyone should have a back-of-the-envelope idea about where their net worth (assets – liabilities) stands.

 Before knowing where you want to go you have to know where you are.

843

2.75K reads

Credit cards

Carrying credit card debt is a great way to negatively compound your net worth.  But credit itself is important.

Likely the biggest expense over your lifetime will be interest costs on your mortgage, car loans, student loans, etc. Having a solid credit score can save you tens of tho...

863

3.28K reads

Cover your insurable needs

This is a huge personal finance margin of safety item. Just remember that insurance is about protecting wealth, not building it.

825

3.39K reads

Think about financial independence

...instead of thinking about retirement. The goal shouldn’t be about making it to a certain age so you can ride off into the sunset, but rather getting to the point where you don’t have to worry about money anymore.

950

3.32K reads

Live below your means...

Live below your means...

....not within your means. 

The only way to get ahead financially is to stay behind your own earnings power.

1.01K

4.46K reads

Make more money

Saving and/or cutting back is a great way to get ahead, but it’s an incomplete strategy if you’re not trying to earn more by enhancing your career. 

Too many people are stuck in the mindset that there’s nothing they can do to get a better job, take on more responsibilities or earn a ...

933

3.11K reads

Salary is not the same as savings

Having a high salary does not automatically make you rich; having a low salary does not automatically make you poor.

Your net worth is more important than how much money you make. It’s amazing how many people don’t realize this simple truth.  All that matters is how much you save out of you...

1.09K

5.34K reads

Taxes matter

Taxes matter

Everyone should try to do their own taxes at least once just to understand how it all works. 

It can be maddeningly complicated, but it can help you save money over time if you know where to look. Take advantage of as many tax breaks as you can and always understand your personal tax...

840

2.35K reads

Understand your spending habits

If you want to understand your priorities  gain control of your finances, look at where you spend money each month.

The goal is to spend money on things that are important to you but cut back everywhere else. And if you pay yourself first you don’t have to worry about budgeting, you just sp...

949

3.03K reads

CURATED FROM

CURATED BY

lucy_d

Investing and saving is not the same thing.

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Scheduling improves your focus

Carefully scheduling your daily program enables you to reach a better focus. As you plan your day, you should take care of dividing your tasks according to the available time. This way you will know from the beginning of the day what and when needs to be done, which will reduce considerably the t...

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