HOW TO BECOME

HOW TO BECOME Financially Literate Ladies we're standing on business this year Here's a step by step on how to become financially literate and take control of your finances starting today Step 1: Budgeting You're gonna start with budgeting and you're gonna learn how to track your income and expenses Track your income & expenses 1. Track income & expenses 2. Learn the 50/30/20 rule 3. Create a Budget Why? If you don't know where your money is going, nothing else matters Step 2: Saving & Emergency Fund Next you're gonna focus on learning how to save and build an emergency fund Build an emergency fund 1. Build habit of regularly saving 2. Create an emergency fund 3. Learn about HISA's Savings protect you from going into debt when life hits Step 3: Debt Management Next you're gonna learn about debt management Learn about debt management Understanding interest rates 1. Understand interest rates 2. Learn debt repayment options 3. Avalanche vs Snowball method Especially on credit cards and student loans To make a debt repayment plan Avalanche or Snowball Step 4: Credit & Credit Scores You're gonna learn about credit and credit scores What is a credit score? 1.What is a credit score? 2.How to build credit? 3.How to maintain credit? 4.How do I check credit score? 5. What lowers my credit score? What affects it? How do you build and maintain good credit? Step 5: Investing Basics Then you're gonna learn the investing basics Learn the investing basics Such as what a stock/ETF? 1.What is a stock/ETF? 2.Why should I invest? 3.What are different kinds of investment accounts? 4.Why should you start investing early? A mutual fund is Of accounts you And why it's so important for you to invest Step 6: Retirement Planning Lastly you're gonna learn the importance of retirement planning Retirement Planning Early is so important 1. When should I start planning for retirement? 2. What is a pension plan? 3. What is CPP & OAS? 4. How do I save for retirement? 5. How much money do I need In retirement? Between tax free And tax deferred accounts And how to set long term goals You don't need to have it all figured out Just start To start so Save this Let's level up together