Top 5 Money Lessons No One Will Teach You
#3.Investigate your Employer
Employees are provided with lots of benefits by the companies. Some of the benefits include retirement plans, health plans, dental or vision plans, life insurance plans, paid vacations, holidays or sick leave, tuition reimbursement, social security, profit sharing, funding of education, and other specialized benefits. Often, perks are given to employees like hotel stays, free refreshments, and leisure activities on work time. These are all things that add to your savings little by little and these small savings pile up to a big amount in the future.
#4.Pay Yourself Before You Pay Your Electricity Company
Ask yourself every month where the money is going. Set your priorities, take your list of expenses every month and rank them. Before paying off the bills for mortgage, electricity, water, groceries, and debt payments, set aside the money for your personal use, may be to buy a pair of shoes or a day at salon. What you should be doing is as soon as your salary appears in your account, take a certain percentage of them and put it into a savings account. This is by far the most helpful way of saving money, pay yourself first and then you pay out on all the things you need.
#5.Save for Retirement
A little advance planning can make all of the difference in your retirement lifestyle, like where you want to live, how much income you will need. It will help you understand how much you need to grow your wealth before you retire and how to plan for it. The goal of retirement saving is to achieve financial independence, so that the need to be gainfully employed is optional rather than a necessity. Your preparation for retirement will help you to save more for your future.
