moonchild
VIP Contributor
We all have different financial goals and circumstances, but there are three boxes of personal finance that we should all check regularly. these boxes are not a secret budgeting, saving, and investing.
Box #1: Budgeting is the foundation of personal finance. It is the process of creating a plan for how you will spend your money. budgeting helps you live within your means and ensures you have enough money to cover your expenses and save for the future.
Box #2: Saving is the act of setting aside money for future use. you have to save for rainy boy, such as unexpected medical bills or a job loss, as well as for long-term goals, like starting a business.
To start saving, create a savings plan for yourself that works for you. decide how much you want to save each month and automate your savings by setting up automatic transfers to make it happen. make sure to have a separate emergency fund that covers three to six months of expenses in case of unexpected events or else you wil end up spending your saved cash.
Box #3: Investing is the process of putting your money to work to generate more money over time. Investing will make you reach your long-term financial goals without actively being involved.
Box #1: Budgeting is the foundation of personal finance. It is the process of creating a plan for how you will spend your money. budgeting helps you live within your means and ensures you have enough money to cover your expenses and save for the future.
Box #2: Saving is the act of setting aside money for future use. you have to save for rainy boy, such as unexpected medical bills or a job loss, as well as for long-term goals, like starting a business.
To start saving, create a savings plan for yourself that works for you. decide how much you want to save each month and automate your savings by setting up automatic transfers to make it happen. make sure to have a separate emergency fund that covers three to six months of expenses in case of unexpected events or else you wil end up spending your saved cash.
Box #3: Investing is the process of putting your money to work to generate more money over time. Investing will make you reach your long-term financial goals without actively being involved.
