Financial Literacy Segment

Welcome to the Finance segment of my blog, I will give a breif overveiw of the sort of content to expect here.

Personal finance and money management are blanket terms usually used interchangeably. They covers topics such as: saving, investing, business and planning.

I am no personal advisor nor do I hold a degree in economics, but over the years I have come to understand the importance of financial literacy, gaining knowledge from a myriad of sources such as books, podcasts and online courses. I have since started a few businesses, built up an investment portfolio (stocks, gold and crypto) and I'm steadily traversing towards the land of financial liberation!

Saving

Saving is an important principle in money management and it requires a lot of discipline to accomplish. Having a lump sum of cash saved for a rainy day (also known as an emergency fund) is always nice and can alleviate the pressure, allowing you to venture new oppurtunities, knowing you have that cushion to fall back on.

Saving = Income - Spending

But to me a missing part of the equation is actually putting the money aside and withstanding the urge to splash out on fancy exotic holidays.... only me? ok nevermind.

So, to save more effectively, you would need to increase your income, whilst reducing your spending.

Blogs will include: side hustles & passive income, saving & budgeting tools, money traps, debt & borrowing and many more saving related topics.

Investing

Investing builds upon the money you saved and stretches it exponentially if done correctly. Investing is a skill in it's self. There are many options when it comes to investing and this is why I've dedicated a whole segment to it. But we will touch on it breifly in the finance segment, as it is a key financial concept.

We will touch on topics such as: the Main Asset Classes, Cryptocurrency, Property, Other forms of Investments, Compounding, Stock/FX Trading.

For a more robust look into the world of investing, link over to our Investment Segment.

Business

Business is a great way to swap out your 9-5 occupation for a product or service you are interested in whilst potentially making a large sum. As good as this sounds, starting business & entrepreneurship comes with a plethora of challenges and commitments. It will require you to develop knowledge of: Management, Law, Sales & Marketing, Business Finance, Human Resources, Customer Service and Intellectual Property all at once, and very fast.

This can seem very daunting, but do not be discouraged. Meticulous planning as well as consistent work will surely aid you in starting, growing and scaling your business.

We will provide posts to highlight your options when: starting a business, advertising, business strategy, quiting 9-5 and many more related subjects.

Borrowing

The word debt usually has negative connotations when brought up. But just as debt can be bad, if used in the right way you can spawn "good debt". On the web, there are tips of how to use other people's money (OPM) to build wealth and how to leverage debt. "Good debt" is generally termed as money owed that can help build wealth or increase income over time. These include student loans, mortgages, business loans etc.

But first, in order to borrow money from the bank or lenders, you'll need a sturdy credit history as this gives you credibility and the lenders confidence that you won't default on your payments.

Building up your credit score, mistakes to avoid, the process of borrowing, student loans all fall under this part of financial literacy.

Planning

Planning is an integral part of your financial journey. It will allow you to have a directional approach to your finances as well as helping you avoid certain mistakes. Short and mid term planning is generally touched upon in all other aspects of personal finance but here we will talk about long term planning.

Topics such as retirment - setting up a pension fund to ensure an enjoyable retirement; repaying student loans; life insurance, creating a trust fund for your children as well as donating to charity.

Money makes the world go round.