People have an inherent desire to seek growth and self development and certainly, the internet isn’t lacking in tips and guides on how to achieve them. But one aspect that is often left unsaid by psychologists and social experts is the role of financial literacy in enhancing one’s maturity in each aspect of one’s life. That’s because talking about money in relation to self development seems inappropriate and even distasteful to some people. [...]
February 13, 2014
One day my friend decided she wanted a shopping spree as remedy to her broken heart. She went to the mall, picked up some clothes (after perhaps five hours of shopping!), swiped her card, and… nothing. What the heck? Almost zero balance in her credit card only seven days after her last payday? Oh boy, something was not right. [...]
February 11, 2014
If there is a subject that must be required in high school, it must be financial education. This is because most of the youth today have no idea how to handle their finances thus they end up in financial mess. You might have preconceptions about how challenging personal finance is, but in reality it is not. All you need is a list of manageable tips to help you reach financial success or stability. Written below are some of the helpful tips that can help you put your finances in tip-top condition.
- Earn a college degree. Going to college can be tough but it is one of the best ways to end up being financially stable in case your other dreams won’t materialize. So whether you want to be a professional athlete or want to pursue an artistic skill, it is highly suggested that you still give a serious consideration on earning a diploma. It will bring you miles away from where you are currently in. And yes, going to college can be expensive but you can make it less costly by employing strategies such as applying for a scholarship, being a working student or even considering a community college.
- Learn to delay self-gratification. This is a very important characteristic you must learn while you are young. When you have self-control, chances are you will be able to put your finances in order. This is because you will not be bothered with waiting until you have the financial means. Simply put, instead of purchasing items on credit and end up paying high interest for that, you will choose to wait until you have saved up enough cash. This is a skill that people who are trapped in debts do not have.
- Keep track of your expenses. Knowing where your money goes helps you to spend within your financial means. When you develop the habit of tracking your expenses, you will be more conscious about your purchases. The end result of this would be that you will have more savings every time you receive your paycheck.
These are just beginner’s financial tips for success. If you want to know more about personal financial management, you might want to take advantage of the numerous resources online.