MONEY- It's Not a TABOO. It's a GAME. Let's see different LEVELS.

 

I know everyone want #MONEY, but you cannot get it by going after it.

In this Game, I am going to show you how to get it easily by showing you what you should focus on at different LEVELS!

LEVELS? Yeah!

But what levels?

Look here are the levels:

LEVEL 1- Living only with your salary :

At this level, your #income stream is only your salary and you have limited amount to save.

Remember no amount is small, only expenses are expensive!

LEVEL 2- Start #Budgeting

A budget is a #spending plan based on income and expenses.

When you start budgeting it will help you :

• to prepare for unpredictable life events.
• to effort big items when you needed
• to show how you are managing money and your current money flow

LEVEL 2- Debt Repayment

This is very important because once you start making a budget and making plans, you will see where most of your #money is flowing.

So, that is your money killer, you need to kill it as soon as possible. Especially if it is bad debt.

LEVEL 4- Saving More

If you can kill those Bad #debts , you will have more money to save.

Now you already have a plan to make it happen and you have a budgeting sheet, so you will understand how you can save more.

So at this level, that should be your main #focus .

Level 5 - Build and #EMERGENCY FUND

Once you start saving more, Start building an emergency fund.

This is for a rainy day.

So, you don't have to ask for money from others.

For an emergency fund, you can go for 6 months of savings (depends on you).

LEVEL 6- Start Investing

This is where you start growing your money. This is the level you use money as a tool to make money.

You can #invest for income, growth or to hedge(protect) your capital.

LEVEL 7- Increase Income Streams

If you have some free time after your work, start a side hustle.

There are endless opportunities if you are a skillful person.

The sooner you start the better, it can get.

If you did it well, you can turn your side hustle into your full-time work.

If these question excites you, let us know.

Instagram - @stockhoro

As Rumi said, "Yesterday I was clever so I wanted to change the World. Today I am wise so I am changing MYSELF".

Photo: Shutterstock

Importance of knowing Financial Management as early as you can... . . . . . . . . . .. . . .. . . hashtag#finacialplanning hashtag#management hashtag#riskmanagement hashtag#savings