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10 Days of Financial Tips: Day 3 – Understand the Rules of Money

For Day 3 of our 10 Days Financial Tips, I bring to you cues on how to understand rules that pertain to money.

  1. For Day 3 of our 10 Days Financial Tips, I bring to you cues on how to understand rules that pertain to money.
    1. Create a budget – if you followed yesterday’s tip, you already have this rule covered. 
    2. Never Spend more than you earn.
    3. Apply the 50-30-20 rule, which recommends putting 50% of your monthly income toward needs, 30% toward wants, and 20% toward saving. 
    4. Gradually save up for big/major expenses.
    5. Apply the 10% rule, a saving tip that suggests you set aside 10% of your gross monthly income for retirement and emergencies.
    6. Educate yourself on money.
    7. Learn what to Invest in.
    8. Steadily increase your income – whether it is a side hustle or job hopping. Never stop increasing your income
    9. Have short and long-term financial goals.
    10. Never borrow more than you can pay within a year.

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By following these rules of money, you can pave your way to financial freedom: Spend less than you earn, save smartly, invest wisely, and keep learning. Take charge of your finances today to secure a brighter tomorrow.

This is it for Day 3.  See you tomorrow #letsSaveMoneywithAccratimes

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