Financial literacy is about knowledge. And knowledge is power. According to Wikipedia: “Financial literacy is the possession of the set of skills and knowledge that allows an individual to make informed and effective decisions with all of their financial resources.” And that “people with appropriate financial literacy training make better financial decisions and manage money better …
There are essentially three ways you can make or earn money: Income from employment Income from a business Income from investments/assets Employment income: The income you earn by being employed is payment for your time, skills or expertise. It’s an exchange – someone else’s money for your time and input into their business. As an …
If debt were a disease, it would have been declared a pandemic by now. I’m talking about consumer debt, excluding mortgages, here. Modern society is consumed by debt. It’s now considered normal to have some level of debt. A third of people in the UK borrow money to buy a car. And many people borrow …
The word wealthy means different things to different people. For some, wealth is all about money and an accumulation of assets that can be valued in monetary terms. That’s financial wealth (money). But there’s also time wealth (freedom), social wealth (status) and physical wealth (health). We’re going to focus on financial wealth here. The definition …
We all have times when we need to reduce our spending. There are things I’m prepared to cut back on and others I’m not (unless absolutely necessary). It’s all about what brings me joy. If you’re thinking you need to make some cuts, here’s 40 easy ways to get you started. They don’t take a …
