Many employed persons retire only to realize they saved nothing for their children and grandchildren. There are several mistakes we make when we get employed. We need to understand that money is very volatile. The way we spend our money is very important as far as success is concerned. Here are money rules every working adult should know
1. Never live above your means
Do not spend more than you earn. There is no way you can be rich if you spend more than what you make. Learn to live below what you make per month or year if you want to succeed.
2. Know your income and expenditures
You need to know how much you make and what you spend. You will go nowhere if you spend more than your income. Learn to live below your means if you want to rise to the top in life.
3. Create a realistic budget
We cannot overemphasize the benefits of budgeting in life. Make sure you have created a budget in your life. The budget should be realistic and attainable. Ensure you stick to the budget you have created.
3. Set goals
You need to set goals in life. While setting goals, ask yourself whether they are attainable. Some goals in life cannot be achieved and hence they are a waste of time. The goals should be in line with your dreams in life.