Financial Rules I Wish I Knew in my Teens

Welcome

Some Financial Rules I Wished I learnt in my Teens

Hello viewers, welcome to my blog. Personally, I’m not yet a money mogul and titan but I hope that as we learn together, the principles of money making, we’ll get to upgrade our financial status and uplift the lives of our families and our countries as a whole.

Growing up, I lacked and maybe ignored some Financial skills and  knowledge that might have helped improve my life. Even though I had little opportunities to make, I guess if was financially exposed, that knowledge might have helped me in my twenties when I made some significant amount of money for a very brief period of time. Without wasting any time, let’s delve into those financial rules, skills and knowledge I wished I had practiced and learnt.

1:  I wished I understood more definitely and realistically, the truth i.e. life isn’t a bed of roses. As simple and ubiquitous as that sound, that is a fundamental truth that many might think they understand but they don’t really don’t. Golden opportunities never often comes our way and when they do, we MUST take full advantage of them.

2: Invest! Invest! Invest! The importance of that word can never be overstated and overemphasized. Invest wisely and cautiously.

3: Possess more asset and than liabilities. Try and acquire assets like land, house, gold, shares, stocks, bonds etc. Reduce your spending on liabilities like personal gadgets, luxurious parties etc.

4: Try to be financially literate. As I reminisce about my Teens and my early twenties, I realize how very little my understanding of finance was. I read little or no book on finance even though I read a lot.

5: Acquire different finance skills like accounting, the use of software like Microsoft Excel, Microsoft power bi, etc. Project management is another skill one can attain. There are also free online courses on these courses that one can undergo.

6: Be cautiously enterprising. NEVER engage in any business risk that you fully understand. DON’T  follow or join the band wagon. I know someone who lost a huge amount of money in the FOREX business. I’m sure an in-depth understanding of the markets was lacking and inadvertently affected him.  Ensure you consult seasoned finance professionals before undertaking any risk.

I hope this post will enlighten and upgrade your financial state. Thanks for viewing.