Most of us would do well to learn a little more about personal finance. To improve your situation, invest a set amount of time each week in your financial literacy.
Photo by Emma Brabrook
Over at 20 Something Finance, writer G.E. Miller makes a good point:
We sacrifice a lot for our employers — health, family, friends, community involvement, time, and willpower for one primary purpose — to make income to pay for things. We then spend almost all of that money — saving just 5% of it, on average. Many save less, nothing at all, or quite commonly — spend more than they earn and dig themselves a hole of high interest debt that they have to work doubly hard to pay off...40+ hours a week to make money and then just over ZERO hours a week on personal finance to get the most out of it.
The suggestion is simple — set aside a couple of hours each week to learn about money. It's Miller's point about how we invest our time that stands out here. We know how to earn enough to pay our bills, and we definitely know how to spend our money, but many of us know little about how it works.
Carve out a little time in your schedule to build your personal finance muscle. It's one thing to say you need to do it, but if you actually schedule in your financial literacy the same way you would a project or exercise, you might be more apt to actually do it.
Check out Miller's full post at the link below.
40+ Hours a Week Making Money & ZERO on Personal Finance? INSANITY! [20 Something Finance]