5 Finance Tips That Will Affect the Way You Think About Money

Obviously and truthfully, we were taught, thousands of words in school , but it should be understood that non ever included how to make money or how to manage money, this were things that were never taught in the four walls of the classroom, but living with them in the physical world is almost impossible

Today i have taken time to draft out useful financial tips that would be helpful to our income and spending limits, and if properly used, you may not need an insurance company to help you off debts.

I SHALL BE WRITING THIS EVERY WEEK

i am not  as perfect as the post sounds, so feel free to write for or against me in the comment section below, i am Human!

1. Create a Financial To Do List

 If you don’t trust yourself to remember to pay your quarterly taxes or periodically pull a credit report, think about setting appointment reminders for these important money to-dos in the same way that you would do if you needed to visit a doctor for health safety, plans to manage finances should also be included in the to do lists. 

2. Check Your Interest Rate

Qs: Which loan should you pay off first? As: The one with the highest interest rate. Q: Which savings account should you open? A: The one with the best interest rate. Q: Why does credit card debt give us such a headache? A: Blame it on the compound interest rate. Bottom line here: Paying attention to interest rates will help inform which debt or savings commitments you should focus on. this is basically explained as , you should pay off debts with higher interests, before considering those with lower interests.

3. Set a Budget, Estimate

When starting off a new business, never leave the budget out of your plans, set an estimated budget you'd want to spend, hence you would be surprise you already started spending savings reserve unnecessarily , most times your budget might not meet up with all you have at hand , in such situations you have two options, either you reduce estimated budget or save a little more..

4. Take a Daily Money Minute

This one comes straight from LearnVest Founder and CEO Alexa von Tobel, who swears by setting aside one minute each day to check on her financial transactions. This 60-second act helps identify problems immediately, keep track of goal progress—and set your spending tone for the rest of the day!

5. Allocate at Least 20% of Your Income Toward Financial Priorities

By priorities, i mean building up emergency savings, paying off debt, and padding your retirement nest egg. Seem like a big percentage? 

This 5 tips shall be all for this week, get prepared for the continuation and please feel free to comment below your observations and appreciations (if useful).

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