Why Money Skills So Important To Get Your Dream Life?
Money skills are the most important basic life skills that everyone should learn.
How would you like to have peace of mind knowing that every bill that comes in you can pay? And how would you like to finally bring your family on your dream vacation?
I know, it’s difficult for people to discuss money because money brings up stress and people get defensive about their spending habits.
If you’re finding it hard to make ends meet, don’t worry I’ve been there.
Several years ago, I looked at this mountain of debt totaling a good $17,000.
I believe that anyone can grow their money skills and create their own dream life (if that’s what you want to do).
In this post, I will be sharing the practical money skills you must master to get your dream lifestyle and spend quality time with your family.
Practical Money Skills To Live Debt-Free
I slowly understand the law of money; little by little until I learned how to play and dance with it.
I was living paycheck to paycheck moons ago. I was thinking that there was no way out for me. But, the problem wasn’t my income. Actually, it takes a completely honest look in the mirror to say that the problem was ME.
I was careless spending beyond my means. I wanted pleasure no matter what the cost is.
Swiping my credit card at any time I want.
To make my story short, I learned how to stop all these stupid things. And now, I’m literally living my dream life.
It’s REALLY worth it!
Money Skills #1: Start With Paying Yourself First
How much you can afford to pay yourself first?
Paying yourself first out of your paycheck is the best thing you can do to improve your life.
You can set aside some percentage from your paycheck each month in securing your future. Actually, you can easily attain it by putting aside as little as $30 to $100 to savings or investment account each month.
If you don’t know how to allocate your budget, check my article about how to make a budget: the 40/10/50 rule. (you can alter & create your own rule).
Money Skills #2: Make Your Money Work For You
Invest your hard-earned money with CAUTION not to lose it. I know that there’s a lot of investing buzz nowadays on the internet.
Don’t be tempted to invest in something because your neighbor or your best friend told you to do so. I’ve lost a lot of money in the stock market. And spent hundreds of hours bouncing through scams sifting through various websites, but only to find out that made me more miserable.
If you don’t understand, don’t buy it.
One of my favorite books I’ve read is the “Richest Man in Babylon” by George Clason. I began the quest of finding out how to ensure future income in December 2012 for me NOT to depend on anyone or anything when it comes to money.
I learned what passive income is and how to create it for money to work for me. One thing I told myself back then…
I somehow deserved a good life and would be happy if I got them.
Money Skills #3: Know Your Lifestyle
I had to know how much money do I need to retire comfortably.
Most importantly, I learned success.
I want to be debt-free and be able to do what I want NOW like spending time with my daughter in NYC. Because I wouldn’t let money tear me apart from my loved ones.
Money plays a huge part in my life because I know how to live on nothing and borrow my lifestyle many moons ago. Knowing your net worth will give you a ballpark figure between your expenses and the income you will need to support your dream lifestyle.
Money Skills #4: Manage Paying Your Debts
Whether you have a credit card debt or home mortgage, manage to pay it. Understand that if you haven’t fully paid your car or house mortgage means it’s not yours.
There are many things that could happen like losing your job.
I stand here telling you today, that being no longer a slave to my debts is the happiest achievement in my life.
Without managing your money well, you could be putting yourselves and your family into a long-term financial burden.
I know drowning in debts, this would seem like the world is caving in around you, and getting out seems an impossible task.
If you need my help how to pay your debt, here are my 8 money management tactics for how I paid off my debts in two years.
Money Skills #5: Earn More
I believe that most mommies can quit working and be their own boss by creating a side hustle to earn more.
That’s the reason I started this blog to inspire every mommy like me who wanted to choose how much or little they want to work and be able to do what they want.
Ok, now I know someone just gasped some air somewhere reading that. I made my first $5,000 passive income working just a few hours each week using my laptop. The first thing I did was to sell digital products with ClickBank as a product vendor.
So, if you’re ready to maximize your self-worth by creating your own signature digital product, and finally take control of your finances and life.
Mommy loves beautiful things and is always the best for their family. We love to pursue happiness, success, and a happy home. Create your own beautiful stuff online! And most importantly, master the money skills to stop being a SLAVE to money.
Because there’s no degree required to do that.
For me, I got into designing my own future and looking at ways for money to work for me and stay OUT OF DEBT.
But being aware of money skills isn’t enough. You need to find the right methods and passionately implement them to achieve Comfort, Fulfillment, and Freedom.
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About Jeng Cua
After borrowing her lifestyle living paycheck to paycheck, this work from anywhere mom wouldn’t let anything stop her from chasing her dreams. Now, Jeng has achieved more than she ever imagined. Her mission is pretty simple – to help you love your life and family using her four distinct life systems.