Do you know you can be financially stable if you do these things?
1. Track Your Spending.
Majority of us can't give detail account on how we spend our money, we receive our salary today, the next thing it's gone.
That happens to me alot when I was much younger but I started keeping records of my spending, I'd be like, do I really need this thing I want to buy?, sometimes it's hard to differentiate between what I need and what I want, the minute I figured it out, it becomes more easier for me manage my resources.
2. Saving.
It's easier said than done but if you practice and perfect it, the sky will be your limit. How about saving every 10% of every of your income? You will surprise how much you will be able to generate.
Too difficult? It's not if you track your spending.
3. Investing
Investing is a way of generating more money with your initial input and it comes with a risk, well life itself is a risk. There several things you can invest on, such as:
i. Growth stocks
ii Stock Funds
iii. Bond funds
iv. Dividend stocks
v. Value stocks
vi. Target-date funds
vii Real estate
viiiSmall-cap stocks
ix. Robo-advisor portfolio
x. Roth IRA. E.t.c
We will discuss this segment extensively afterwards.
Following the principles above will stabilize you financially and eventually make you a happy man.
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