Financial literacy is about empowering individuals with the knowledge, skills, and confidence to make better decisions about their finances. Here is part 1 of a 2 part summary of some tips you may find useful.

1. Invest in your financial well-being – You can do it! Take control of your financial well-being by first getting an idea of what you already know and what you don’t. The financial world has a language all its own. Familiarize yourself with the terms and acronyms used in the industry.
2.  Start good habits early – Become a smart consumer – Making money is hard work so be discriminating on how you spend it. Get into the habit of comparison shopping and focus on getting the best value for your money.
3. Live within your means  – With rising costs and a consumerism society, it’s becoming harder and harder to keep spending in check. Read more here on to learn how you can better track your spending.
4. Start investing now – There’s no better time than the present to start investing. The longer your time horizon, the more you can benefit from compound interest. Thinking about investing, but don’t know how? There is lots of information available. Just make sure it works for you.
5. Use debt wisely – When used effectively, debt can help you reach a goal, like purchasing a home. Read here to learn how you can make use of it.
6. Beware of financial fraud – When an investment sounds too good to be true, it may just well be. Protect yourself by looking out for the warning signs and being a more informed investor. More information here.
7. Have a plan – In order to reach your financial goals, it’s important to know what they are. To be effective, you should take some time to determine what you want to achieve and how you’re going to accomplish it. Learn more here.

If you need assistance please contact me for a complimentary 30-minute discussion and cash flow consultation. It’s never too late to start!