FINANCE RULES YOU NEED TO KNOW

FINANCE RULES YOU NEED TO KNOW 

1. AVOID CONSUMER DEBT

Consumer Debt is what you owe, it can be borrowed from a credit union, a bank or government. 

2. NEVER HAVE ONE SOURCE OF INCOME

Don't rely on your 9-5 job for your entire life, you'll be signing up for what's called a rat race. With multiple streams of income, you'll be more secure financially, but you having multiple streams of income won't necessarily make you wealthy, you also need to be financial literate.

3. SAVE MORE THAN YOU SPEND 

The 30 Days Rule of Impulsive Spending Control

Here's how it works:

1. Whenever you feel the urge to splurge — whether it's for new shoes, a new videogame, or a new car — force yourself to stop. If you're already holding the item, put it back. Leave the store.
2. When you get home, take a piece of paper and write down the name of the item, the store where you found it, and the price. Also write down the date.
3. Now post this note someplace obvious: a calendar, the fridge, a bulletin board. (I use a text file on my computer.)
4. For the next thirty days, think whether you really want the item, but do not buy it.
5. If, at the end of a month, the urge is still there, then consider purchasing it. (But do not use credit to do so.)

4. BORROW MONEY TO MAKE MONEY OR DON’T BORROW MONEY AT ALL

5. SPEND MONEY FOR KNOWLEDGE 

1. Learn, Learn – And Learn Some More. Successful people study a lot - whether it be e-books, in-car audio courses, relevant vlogs, or scanning the financial pages each morning. 
2. Find A Like-Minded Company.
3. Start Investing. Investing is a risky business, so you need to remember that as you go about your investments. 
4. Invest In a Course To Expand Your Skills and Knowledge. 

6. AVOID PAYING FULL COSTS FOR ANYTHING 

1. Buy Off-Season
2. Don’t Forget The Fake Holidays

3. Shop Abroad