Hey everyone! So after being away for more than two weeks, I uploaded a video this past Saturday on my YouTube channel. It was on 10 money rules to know in your 20’s.
Since I have started my YouTube channel, I am unable to delegate time to write separate content for my blog. I can however prioritize if I want to but the video filming process does include a lot of writing which is why I have decided to start including a written summary along with embedded video.
People who are fast readers like to get straight to the point. So from now onwards there will be a concise script with the videos that are centered towards personal development. Here is a run-down on all the points mentioned in the video below
10 Money Rules to Know in Your 20’s
- Make a budget with 50/30/20 rule. (50% for neccessities,30%for luxury and 20% for saving)
- Save the bonuses or raise in salary
- Learn and get better at your skill. Personal development is huge if you want to improve your standard of living
- If an 8 plus year old appliance breaks down then instead of spending money on its repair, buy a new one(watch the video to learn more)
- Track your Problem spending areas
- Make an emergency fund(watch the video to know on how to make it)
- Pay your highest interest rate debt as soon as possible
- The maximum that you should pay towards your debt is 30-35% of your budget
- Remember money does not grow in a linear fashion
- Make money by doing something you are good at naturally(trust me on this; money follows with doing something you love)
Watch my video, like it and subscribe to my channel.
Have a great and productive week ahead!