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How to Better Finance Yourself


Set up an Emergency Fund: An emergency fund is for when things go wrong. It can be beneficial for whatever life throws at you; especially unexpected job loss, medical emergency, etc.

Create a budget: A budget creates a bird-eye view of your monthly finances. Budgeting helps break down your expenses: "needs", "wants", and "future".

Protect your family and your home: Get life insurance, it provides a safety net for your partner and your children. In the event of death, it helps the family pay the bills, student loans, and medical debts or other expenses. Get homeowners and renter insurance. If you own a home, please get a homeowners insurance. If you have important documents or material in your apartment, please get renter insurance. It protects your valuables material in case of a disaster like fire, burglary, etc.

Refinance your student loan: If you're still in college, you don't have to think about it yet. By refinancing your existing student loan, you could see a dramatic reduction in your interest rate which could lower your monthly payments.

Build your investment portfolio: Invest in at least five different stock (buy 1 to 10 shares). Buy ownership in a REIT. With the power of compounding and regular investing, you can build wealth for the financial future you want. Invest in some public traded company. Get a Stash account or a stockpile account or a Robinhood account today!

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  1. UnknownDecember 28, 2019 at 12:31 PM

    Love your blog, it educates me on where and how to manage and invest my hard earned money if I want to be set in life and prepare for real life situations! Love it!

    ReplyDelete

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