Financial literacy 101

You need to spend less each month than you earned in the previous month.

Income - Expenses = Delta
Delta>0 - investment resource
Delta<0 - first make it > then start investing

Goal - to save 10-20% of monthly income.
🔹Lifehack: get your paycheck, save up the delta and forget about it.

Then, calculate your daily budget: take your last month's income (minus the delta) and divide it by 30 days. Here you have your daily budget.
If you can't control yourself, you can set a limit in your bank account. If unforeseen expenses come up, than don't take from the next days, use the financial cushion you already have.
Just like that!

In this page I will try to simplify as much as I can from my education in investing.

STAY TUNED

#Mikepreacher #MentalHealthwithMike #mentalhealth #Discovery