My Favorite Financial Tips
(Thread) 👇🏽
(Thread) 👇🏽
1/
Run your finances like a business.
Run your finances like a business.
2/
Focus on growing your income
Focus on growing your income
3/
Never max out your credit card.
Never max out your credit card.
4/
Have an emergency fund with at least 12 months of expenses.
Have an emergency fund with at least 12 months of expenses.
5/
Don’t spend more than you earn.
Don’t spend more than you earn.
6/
Tax yourself on every purchase you make.
Tax yourself on every purchase you make.
7/
Start saving at least 10% of your income every month.
Start saving at least 10% of your income every month.
8/
Pay yourself first - then spend all the rest.
Pay yourself first - then spend all the rest.
9/
Separate wants from needs.
Separate wants from needs.
10/
Don’t invest borrowed money.
Don’t invest borrowed money.
11/
Set Financial goals + reward yourself along the way.
Set Financial goals + reward yourself along the way.
12/
Investing > Saving
Investing > Saving
13/
Diversify your investments.
Diversify your investments.
14/
Only invest money you are prepared to lose.
Only invest money you are prepared to lose.
15/
Use debt to buy productive assets.
Use debt to buy productive assets.
16/
Monitor your net worth
Monitor your net worth
17/
Cash is king in times of turmoil.
Cash is king in times of turmoil.
18/
Pay extra towards debt
Pay extra towards debt
19/
Automate your savings
Automate your savings
20/
Save for retirement as soon as. Possible.
Save for retirement as soon as. Possible.
• Conclusion
Value money, but more importantly value your time.
*Money buys freedom.
Value money, but more importantly value your time.
*Money buys freedom.
• Shoutout
For more content on finance, economics, and how to grow income - sign up below 👇🏽
davidketh.substack.com/p/coming-soon
For more content on finance, economics, and how to grow income - sign up below 👇🏽
davidketh.substack.com/p/coming-soon
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