I recently finished “I will teach you to be rich” by Ramit Sethi. Honestly, I read it speedily because I had to skip a few sections as most of the things were particularly in the US context. I found many points very generic and relevant, it was great learning still from an entrepreneur point of view I would soon like to see something for me in the next book.
From my personal experiences in my life and from the book, Here are my easy to go 10 simple positive personal finance tips:
Your money will grow faster, as early as you plan to manage it. Age matters.
An average 8 percent return on money is healthy. Start from here.
Focus on good credit score and use credit cards to benefit you, go for credit cards which gives you maximum cashback. Set up auto-debit for credit cards and negotiate for increasing your credit limit, to build a solid score.
Go for bank accounts or debit/credit cards that have no yearly or additional fee.
Never go for paid or external financial advice. You are the best guide for yourself. Schedule time to think and plan.
Start small. But, Start saving.
Open up saving an account with the bank giving the best rate of interest.
To invest is the fastest and the best form of making money. Plan your investment.
Go for a simple lifestyle, just buy what you actually feel like buying and will give you ultimate satisfaction. Do not buy to show to others, but for your own comfort.
I wish these simple points, bring big changes to your financial management thoughts.
My honest writings
Mandeep Kaur Sidhu
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