I’ve immersed myself in money-related stuff for the past 10 years. First as an accountant, then in business and now as an investor. If there’s one thing I’ve managed to get right, it’s managing money. 43% of UK adults have money worries, so this video is for them.
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I’ve Read Over 150 Books. These Will Make You Rich:
How To Get Rich This Recession 2023:
🕓TIMESTAMPS:
00:00 – Intro
00:39 – Work on your mindset
02:43 – Keep a budget and track your spending
04:23 – Set specific and measurable goals
05:42 – Avoid debt
08:06 – Start investing
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📢 DISCLOSURE:
I am not a financial advisor, and the content provided is for educational purposes only. It is important to conduct your own research and make informed decisions about investing. Past results do not guarantee future results, and there are risks associated with investing. Please only invest in things you understand, and always remember that capital is at risk….(read more)
LEARN MORE ABOUT: Qualified Retirement Plans
REVEALED: How To Invest During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
HOW TO INVEST IN SILVER: Silver IRA Investing
As an accountant, I have seen it all when it comes to people’s financial habits. Whether it’s overspending, not saving enough, or simply not knowing where to start, many struggle to get better with money. But fear not, there are some simple steps you can take to improve your financial situation.
1. Create a Budget
The first step towards better financial management is creating a budget. Write down all of your income and expenses and see where you can cut back. It’s important to be realistic about your spending and make sure you’re not spending more than you can afford. Use a budgeting app or spreadsheet to help you track your spending and keep you accountable.
2. Set Financial Goals
Without clear financial goals, it’s hard to stay motivated and focused. Set achievable short-term and long-term goals, such as paying off debt or saving for a down payment on a house. Having something to work towards will help you prioritize your spending and make better financial decisions.
3. Save Automatically
Saving can be hard, especially when there are so many other financial obligations to take care of. One trick is to save automatically. Set up automatic transfers from your checking to your savings account each month. You’ll hardly notice the money leaving your account, but over time, those small amounts will add up.
4. Reduce Debt
Debt can be overwhelming, but it’s important to tackle it head-on. Start by paying off high-interest debt first, such as credit card balances. Make sure you’re making more than the minimum payment each month to make a real dent in your debt. Consider consolidating your debt into one loan to make it easier to manage.
5. Invest for the Future
Investing can be intimidating, but it’s important to start early to give your money time to grow. Consider contributing to a retirement account, such as a 401(k) or IRA. If you’re not sure where to start, seek advice from a financial advisor who can help you make informed investment decisions.
In conclusion, getting better with money takes time and effort, but it’s worth it in the long run. By creating a budget, setting financial goals, saving automatically, reducing debt, and investing for the future, you can take control of your finances and build a secure financial future.
This video is superb Vijay!!! I have watched the whole video whilst making notes 🙂 It is super helpful for someone like me who is just stepping into the world of investing and I am currently in the research stages. The biggest thing for me to take away from this video is that I am going to budget and track my spending for 3 months before I start investing just to get a better overview of my outgoings especially. (Also, something I think I noticed that I might have missed but I never saw the gfx top right corner for step 4… I saw 'Avoid debt' in time stamps but I never saw the animation as per the four other steps.) Thanks again and really looking forward to your video about investing for beginners!!
Impressive content for such a small channel
Great content as always, Vijay