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9 Money Truths No One Talks About
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Only 37% of Americans are confident in their ability to manage their money
Just over half of Americans donât have a budget
Schools don't teach you money management
So how does one get financial literacy?
Here are the top 9 money truths to improve your money game:
Just over half of Americans donât have a budget
Schools don't teach you money management
So how does one get financial literacy?
Here are the top 9 money truths to improve your money game:
Money Truth 1: Spend Less Than You Earn
Spending money you donât have will keep you stuck in the paycheck to paycheck cycle
Cut down expenses to become financially free
Cut down on:
- Cable
- Shopping
- Eating out
- Entertainment
Cut down on every unnecessary expense
Spending money you donât have will keep you stuck in the paycheck to paycheck cycle
Cut down expenses to become financially free
Cut down on:
- Cable
- Shopping
- Eating out
- Entertainment
Cut down on every unnecessary expense
Money Truth 2: Make More Money
If you arenât earning enough, priority should be making more
There are tons of ways to make extra money
Here Are Some Ways:
- A second job
- Gig economy
- Selling products online
There's no excuse for being broke
If you arenât earning enough, priority should be making more
There are tons of ways to make extra money
Here Are Some Ways:
- A second job
- Gig economy
- Selling products online
There's no excuse for being broke
Money Truth 3: Stick To A Budget
You need a plan to stay on track and stick to a budget
Without a budget you will likely overspend
Action plan:
- Create a budget
- Set priority for each expense
- Follow the budget
If you plan to go over, make adjustments to the budget
You need a plan to stay on track and stick to a budget
Without a budget you will likely overspend
Action plan:
- Create a budget
- Set priority for each expense
- Follow the budget
If you plan to go over, make adjustments to the budget
Money Truth 4: Learn To Save Money
Saving money will not make you rich, but it will allow you to invest.
Investment is a skill that isn't taught to everyone.
But, it's the foundation of building wealth
Consider:
- Cutting expenses
- Credit card points
- Shop around
Saving money will not make you rich, but it will allow you to invest.
Investment is a skill that isn't taught to everyone.
But, it's the foundation of building wealth
Consider:
- Cutting expenses
- Credit card points
- Shop around
Money Truth 5: Pay Off Debt
As long as you are in debt, you are a slave to your debt
The best way to get out of debt is to pay it off
How to fix it:
- Pay off your debt ASAP
- Focus on the debt with the highest interest rate first
As long as you are in debt, you are a slave to your debt
The best way to get out of debt is to pay it off
How to fix it:
- Pay off your debt ASAP
- Focus on the debt with the highest interest rate first
Money Truth 6: Invest your money
The key to wealth is investing
Have a plan to invest on a regular schedule
Learn how to invest and how to diversify your investment
Things to consider:
- Start early
- Invest in a diverse portfolio
- Have a recurring investment plan
The key to wealth is investing
Have a plan to invest on a regular schedule
Learn how to invest and how to diversify your investment
Things to consider:
- Start early
- Invest in a diverse portfolio
- Have a recurring investment plan
Money Truth 7: Start A Side Hustle
Side hustles can net you some serious extra cash
Many people quit their 9-5s after the side hustles earned them more money than their job
Some side hustles include:
- Selling online
- Online Marketing
- Creating a course
- Freelance writing
Side hustles can net you some serious extra cash
Many people quit their 9-5s after the side hustles earned them more money than their job
Some side hustles include:
- Selling online
- Online Marketing
- Creating a course
- Freelance writing
Money Truth 8: Invest In Yourself.
You are your own business
Investing in yourself is the best investment
If you want to be financially free, invest in yourself
Things to consider:
- Take a course
- Learn a high-value skill
- Build social media presence
You are your own business
Investing in yourself is the best investment
If you want to be financially free, invest in yourself
Things to consider:
- Take a course
- Learn a high-value skill
- Build social media presence
Money Truth 9: Learn Money Management
You will struggle becoming financially free if you don't know money management
Proper money management will let you keep and grow your money
Track:
- Cashflows
- Investments
- Your networth
- Hire a good accountant
You will struggle becoming financially free if you don't know money management
Proper money management will let you keep and grow your money
Track:
- Cashflows
- Investments
- Your networth
- Hire a good accountant
Conclusion:
Money is the foundation of your financial future
Start by cutting down on expenses, making more money, or paying off debt
Find ways to earn more, learn investing, and track your money
Money goes where it's most appreciated and can grow
Make sure it's you
Money is the foundation of your financial future
Start by cutting down on expenses, making more money, or paying off debt
Find ways to earn more, learn investing, and track your money
Money goes where it's most appreciated and can grow
Make sure it's you
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