Why is it that schools teach algebra and not money basics? Don’t get me wrong; math is important, and we need more boys and girls get interested in math and sciences. But it’s quite amazing to me that many young people, even after university, don’t know the basics of personal finance or investing: How do you do a budget; why you need a budget; what compound interest does for both your savings and your debt. Is it any wonder that so many people find themselves making money mistakes that could cost them in years to come?
If schools aren’t teaching kids how to handle money, let alone how to grow their money, how do people acquire money knowhow?
HoneyMoneyMakers feel strongly that not only do you need to understand the money basics, but like anything else, it is most important to put the knowledge into action.
So here’s our challenge to you for the month of May: Set a goal. Maybe it’s to save $500 by end of the month (you want to save up for a nice weekend getaway in June). Then make a budget that could help you reach that goal. Know your cashflow right down to how much money you spend on coffees a month. Then stick to your budget. We really want to help you make this challenge work.
First step? Commit to it but saying, “I’m in” below in comments. If you do, we commit to check in with you at the end of May to see how you did. DM us if you need help any time along the way. Let’s do this!
#personalfinance #investing #finance #budgeting #savings #moneygoals #debt #cashflow #coffee #moneychallenge