5 rules of personal finance

Following these simple rules will help you achieve your goals and realise your wildest dreams.

1. Tracking income and spending

Watch your spending categories for a couple of months and you will learn a lot you did not expect.

Numerous apps for managing and monitoring your budget are at your disposal.

2. Planning your spending

make shopping lists and avoid spontaneous purchases. 

This applies both to daily grocery shopping and to planning purchases for a month, a quarter, or a year.

3. Spend less than you earn

That one is obvious — easier said than done 😅 Do not get carried away with loans and credit cards.

4. Spend wisely

Price does not equal quality. Before buying, check reviews, ratings, promotions, discounts and loyalty points. 

Nor should you get too carried away with discounts, so that it doesn’t become an obsession that prompts you to buy unnecessary things. In this case, we might return to point 2.

5. Aim to earn more

Keep an eye on the job market — a new skill picked up at the right time puts you ahead of the rest.

You may also find useful: The 50/30/20 rule for splitting a household budget.