Financial Literacy Key Rules You Need to Know

Change is not easy, especially when a person is accustomed to a certain pattern of behavior. However, realities demonstrate that it is necessary to change your attitude towards money: even the highest income cannot last forever, and the world economy is becoming more and more unstable every year. So everyone needs to remember the basic rules of financial literacy.

No Matter How Much You Earn, Spend Less

This is a basic principle: you must first learn to live within your means so that you can move on and not deal with endless debts. The ability to limit your needs and save money is the main skill. Without it, the following rules cannot be followed.

Prudent Use of Lending Services

The opportunity to get money on credit is very attractive and can be a salvation in certain situations, but you must always remember that loans must be repaid. So, it is recommended to decide on a loan only if you really need the thing or business for which you need money and if you are confident that you can return the money on time. Even when it comes to Payday Depot for small amounts, always calculate how you will return the funds.

Follow the 10% Rule

The principle is elementary: save 10% of your monthly income. Whatever it is, you can live at 90%. The remaining amount will become the basis for new savings, the formation of reserves, investment, and other funds.

Buy Only from the List

The first step to planning is making a shopping list. It needs to include everything down to the smallest detail: from household appliances (if necessary) to paper napkins. Ideally, you should indicate prices for each product. Now, there are many programs and mobile applications that simplify this process. At the same time, you can track where the money goes and what part of the income each category of purchases takes up. Sometimes, people make unpleasant discoveries, for example, that the "traditional" daily beer is stealing a quarter of their monthly income. There is already something to think about.

Beware of Impulse Purchases

That's what a list is for - to put what you really need into your cart. Sales professionals use hundreds of tricks to trick consumers into buying hundreds of unnecessary items. These are color combinations, spraying of aromas, promotions, and discounts. Therefore, you need to go to the store (or go to the website of an online store) with a list, and, preferably, on a full stomach. If it's difficult to resist, you need to take with you exactly the amount for which the shopping list is calculated.

Consider and Plan Your Income and Expenses

The laws of financial literacy say: economic growth begins with understanding how much a person earns and spends. Start with a shopping list and expand your accounting skills. In a special program or in a regular notebook, you need to list all existing sources of income and all standard monthly expenses. This will allow you to see the real financial picture and draw conclusions. As a result, you will be able to make a financial plan.

With the advent of wireless Internet, more and more computer users are entering the world of cyber space.

Yet, while these users are well aware of the importance of the protection of their computer when hooked up to regular internet providers, they are often oblivious to the fact that the same cyber dangers, and in fact even more, exist in the world of WiFi.

What you may not know is that same Internet connection that makes it possible to check your email from the comfort of your bed also makes it easier for hackers to access your personal information.

It is for this reason, the sharing of the wireless Internet connection, that protecting your computer when wireless is even more important than ever before.