Just how do you make and save more money? And as you can see, the common theme here is making and saving more money.
Once you get away from all the big words and industry jargon, personal finance becomes easy to understand. Treat every obstacle as an opportunity for reaching another goal. That's why you have goals and plans for each one. Sure, as with everything else, the devil is in the detail. That's what personal finance at its core is all about. Needless to say, if you want to reach your financial goals, you need the second choice. Which is to reassess your situation and make necessary adjustments so you can keep going. Things happen! You can either let it ruin your plan and goals, or you can do the right thing for your financial life. Things can and will go wrong - the air conditioning unit stops working, the car breaks down, you get sick, the roof starts leaking - that's life. Here is one that makes it extremely easy to get started: Whether your goal is to become debt free, increase your overall net worth, retire early, pay off credit cards or college loans, or simply to manage your money better, you need a plan of action. What finally broke it down for me and helped me to truly understand (for the first time) what this all means, was a simple math equation.ĮARN MORE + SPEND LESS + SAVE MORE = BETTER FINANCIAL LIFE But managing your money doesn't have to be complicated. But financial jargon makes PF so intimidating that most of us give up trying to understand it.Īnd that explains why so many of us have thousands of dollars in credit card debt, don't even have $500 saved up for the rainy day, fall behind on our mortgage and other loans, living paycheck to paycheck.
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Sure, knowing how to manage your money is crucial if you want to live a less stressful life.
Unfortunately, most personal finance blogs and books make PF much more complicated than it should be.
For a lot of us, just hearing the phrase "Personal Finance" or "Money Management" is enough to make us run for the hills.
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