Financial Literacy for Beginners (4 Things to know when beginning your financial journey)
Happy Friday Lovers! 💫
We all have to start somewhere and we all have a different journey to financial stability. Whether you come from a low income family, have a past history of bad spending habits, come from a rich family and want to gain control of your own finances or just graduated from school and don't know what to do with all your debt; we come from different environments but have one goal which is understanding, controlling and reclaiming our finances.
Today, I will list four simple but important tips you need to know when on your financial journey. These small tips will help you begin reclaiming your finances. This is not in any order but all pieces are valuable when changing your financial future and growing your money.
Education: Not everyone has the luxury of having educated parents who have good financial history. Not everyone majors in business management or finance and gains an understanding of financial security. Here are some courses that you can take for FREE to help you get a hold of your financial education.
Udemy
Harvard
EdEx
Budget: Having a budget is going to be crucial, you need to be able to manage your money in order to have a balance between your spending, investments, saving and more. You need to allocate money to eat, sleep, travel, invest and take care of your loved ones. A budget is a key part to developing your financial prosperity, here are some sites that can help you see your money through a budget template!
Office 365
Every Dollar
Patience: This only comes with time, you need to have patience in all that you do. You're not going to make it to that 50k goal in one month. It's sometimes going to feel super slow and draining but by the end up the year your monthly 4k savings will finally make 50k (for example). Goals take time to develop that's why they are goals, practicing your patience is a major KEY!
Consumer Mentality: You must change your mentality, get out of the mind set of spending. Society has forced us to believe that we should be spending, buying clothes, cars and big houses. That should not be the way you think if anything you should shift your brain to believe saving and investing is the mentality to have. GOOD LUCK!
Coll
We all have to start somewhere and we all have a different journey to financial stability. Whether you come from a low income family, have a past history of bad spending habits, come from a rich family and want to gain control of your own finances or just graduated from school and don't know what to do with all your debt; we come from different environments but have one goal which is understanding, controlling and reclaiming our finances.
Education: Not everyone has the luxury of having educated parents who have good financial history. Not everyone majors in business management or finance and gains an understanding of financial security. Here are some courses that you can take for FREE to help you get a hold of your financial education.
Udemy
Harvard
EdEx
Budget: Having a budget is going to be crucial, you need to be able to manage your money in order to have a balance between your spending, investments, saving and more. You need to allocate money to eat, sleep, travel, invest and take care of your loved ones. A budget is a key part to developing your financial prosperity, here are some sites that can help you see your money through a budget template!
Office 365
Every Dollar
Patience: This only comes with time, you need to have patience in all that you do. You're not going to make it to that 50k goal in one month. It's sometimes going to feel super slow and draining but by the end up the year your monthly 4k savings will finally make 50k (for example). Goals take time to develop that's why they are goals, practicing your patience is a major KEY!
Consumer Mentality: You must change your mentality, get out of the mind set of spending. Society has forced us to believe that we should be spending, buying clothes, cars and big houses. That should not be the way you think if anything you should shift your brain to believe saving and investing is the mentality to have. GOOD LUCK!
Coll