I listen to a podcast called Freakonomics. Specifically, one podcast titled everything you always wanted to know about money talks about an index card written by Harold Pollack. The index card was titled, nine easy rules about personal finance. Here are the nine rules:
I agree with all of these, but will say the emphasis on each depends on your current situation, and personal goals. For example, rule #4 – save 20% of your money may be difficult for some people. Some of you may just be scraping by, which does not allow you to save much at all. Even if this is the case, you still should put efforts into hitting as many of these rules as possible. It is typically difficult in the beginning as you adjust to a new lifestyle, but will pay off when it is important. These nine rules can help a wide range of people from various levels of financial literacy.
As I collect more information and share it out, I hope to achieve greater awareness of financial literacy. I want to share useful information to those interested in improving their financial situation. By nudging others to improve their financial situation, I believe we can improve the overall economy and in turn all benefit from it.