07/03/2023
π here Millennials and GenZ
Avoid these mistakes to achieve
β Heaps Of Credit Card Debt
Most of us use our credit card on things we don't usually need. Thinking we can pay it off later but end up overspending like it's a luxury.
β No Emergency Fund
YOLO (You Only Live Once) has become popular in our generation. Not minding that saving for the rainy days is as important. Accidents, health issues or losing a job may cause us to exhaust all our savings in no time.
β Spending At The Rate Of Your Earnings
It's never bad to give ourselves the treat we deserve (i.e eating in a fancy restaurant, shopping ,travel, etc). But spending our "extra" income with this mindset will not lead us to "financial freedom". Instead, let's use it to pay off previous loans or invest it.
β Not Being Proactive About Your Health
In a fast paced world we live in today, nothing is more important than our health. If we want to live a longer life, let us take care of ourselves as early as now no matter what age. Prevention is always better than cure.
β Not Investing In Life Insurance
Life is full of uncertainties. But, there is always a way to prepare for it. Having adequate insurance coverage and saving and putting our income in a long-term investment is one of the fastest ways to grow our wealth.
β No Retirement Fund
Retire early? Learn to save as little as we can while we are young and healthy. But remember that our retirement fund should lead us to a comfortable and independent life even in our 60's.
I hope that you have pondered on these thoughts and find time sharing it with your financial consultant.
And don't forget, I am one of them. Let's talk!
Reach with Pru β€οΈ
π+63-908-395-5064
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