7 Considerations before 30 years old
Many people are now in the working age group, aged 23-30, which is starting to build a position for security, right? But many people are the opposite. Because some people still have debt from the credit card or cash card that must be used, or some people have to bear the burden of family expenses Or if a little heavy, then have the burden of debt at home That we have to come to help another way.
No Problem !!!
Because each person's life cost is not equal That's the true story
But even so, it does not mean that we cannot start to create financial security for ourselves. Today, PaydayLoanOnline.com would like to come to give knowledge to you on Topic 7 about money. Must review it if you are 30 but not yet. Nothing at all Let's see what is in it?
1. Know yourself first, What is more between "property" and "debt" ?
If you work at a salary Tens of thousands But have expenditures on debt as well as income. The first thing to pay attention is the list of assets to compare with all the debt And if confusing, hey! We have a lot of assets, including iphone, Ipad, expensive camera, etc. But why still have only debt.
Easy to think. 1 mobile phone. Price around $250 - $1,099. But the selling price is almost half of it has disappeared This is enough to be able to see, right? Must start to come back to financial planning for yourself now. Easy start That starts to accumulate assets that generate income such as shares, mutual funds, etc.
2. Create your own financial statements
Although you can make much money. But if money management is not good The proceeds will disappear easily. It's called "Get rich day by day". So what friends Must be paid attention to the following, namely the creation of an expense budget. If you don't know how to start, Let's start with the 50-30-20 financial statements of Elizabeth Warren.
3. Start to gradually release all debts
Whether it is car installments, credit card bills, or even 0% installments for various products, because the sooner the debt is released We can only finance more. And if still not sure how to release the debt Suggest to start by looking at how many debt we have, the amount of debt owed to each person and interest rate next, arrange the debt rank by having the debt with the highest interest rate at the top and beginning to release the debt from that first. And gradually closing other debt Continue until the end.
We should all be prepared financially. The important thing is to learn and start right now. Don't start when you are nearing retirement. Don't have any energy to work.
4. Risk management
Being mindful helps us to overcome all problems. Because what we are going to talk about is the following risks. Whether you are single or not There are 3 risks that should be considered:
5. You must have an emergency reserve at least 6 months.
Based on (normal expenditure per month x 6 months = emergency reserves that should be available), this amount will help us to cope with the financial problems without having to borrow someone else. Which may cause us to get back into the debt cycle again.
6. Can study tax
More income Do not forget that the tax has to increase steadily. Because it is a law that everyone in the nation must comply with What girls should study are the various laws related to taxes. Regardless of whether deductions or omissions
7. Planning for retirement yet?
"Don't be old without money," said this because he wants to plan retirement soon. The faster you put it, the better. Therefore, starting from today is for our own benefit. Children will not have to worry.
We should all be prepared financially. Even though there is still nothing We can still start. The important thing is to learn and start right now. Don't start when you are nearing retirement. Don't have any energy to work at all, Best wishes.
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