What are the Basic Money Skills?

While learning money skills early in life will be greatly beneficial to you, many times we don’t really pick up on these knowledgeable insights until we reach our 20s.

What Are Basic Financial Skills?

Basic financial skills are the essentials you acquire that help you manage your money, grow your wealth, and ensure you are staying out of debt. These standard skills will help you navigate through life with less financial struggles and better prepare you for the real world.

Why are financial skills important?

By developing your financial literacy, you’ll be better equipped with the knowledge and skills to manage money effectively and avoid financial traps.

Money Saving Skills

Your budget can help you understand if your living expenses are too much for your income too. And a budget will help you stop living beyond your means and help you control your spending. 

1. Create a basic budget

Money Saving Skills

Another basic money skill to master is calculating your potential savings rate. Ugh, yes math is back even after you’re done with your formal education!

2. Calculating your savings rate

Money Saving Skills

Paying yourself first, flips this concept by putting money into your savings, an emergency fund, or your investments first before paying your bills. 

3. Concept of paying yourself first

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