“A financial education is something that everyone could benefit from, but typically it is only sought after by economics students, entrepreneurs, and businessmen and women. Sooner or later, a lot more people realize that it is necessary and beneficial to understand the relationships between income, savings, expenses, taxes, insurance, and retirement savings. They learn from their financial mistakes and wish they could’ve avoided some common traps, if only they knew about it sooner. In the case of finance, it is never too late to improve and the sooner you learn more about your finances, the sooner you will be able to benefit from it.”
“Cash rules everything around me, cream get the money, dollar dollar bills ya’ll”, are famous lyrics rapped by none other than the infamous hip hop group the Wu-Tang Clan. Albeit, not overly eloquent in its execution, the sentiment is undeniably true. Pretty much every step in our life is governed by our monetary circumstances, meaning that balancing the books is a fine art.
So, if you’re not one of the lucky few who was born into an oil baron’s family or you didn’t invent a social media page that went bonkers, you’re probably apart of huge crop of individuals experiencing the challenge of getting on top of payments and struggling to save.
When looking at the old bank account, the knot in your throat might be suggesting a visit to a public library or prompt you to Google, “free things to do in my city this weekend” as a few tears pour out, (but only a few, the lack of sustenance you can afford will only produce so much!) Don’t fear, unless you live in Mogadishu or Kabul, there are plenty of ways to live like the Wolf of Wall Street and still fulfil your cash money goals.
So, where to? It all starts with budget and planning. Yes, the old ‘budgeting’, approach. No doubt we’ve all heard this method a hundred times from parents or that annoying accounting student we all know. It’s constantly mentioned for a reason; it works. It doesn’t matter if you’re earning mega benjamins or only a few, you have to look at what is coming in versus what is going out.
This helps you work out where you money is g