Most Badass Financial Skills To Learn In 2022
Everyone of us want to be rich and wealthy but we don’t wanna put in the work. We don’t wanna learn. Many of us think it’s ok to sit in the bed watching netflix and not changing your life around and there are the other one who have a guilt to relax in the bed and watch netflix & can’t chill. Whereas, there are the one who want to change their life around and focus on changing it and work everyday. Learning the badass financial skills that you don’t learn and after a time they will start attracting everything with wealth change and skills.
Now, you know why learning financial skills are important but at first you also need to know which financial skills you need to know.
1. Investing:
Investing is an easy term which just means to invest in something. That something can be you, the stock market, cryptos, nfts, real estate, knowledge etc. Investing will double your chances of having an easy retirement. Learning investing is easy nowadays and there are many videos, posts and people from whom you can learn investing. Just know one thing about investing, that the faster you start the better your chances.
If you want to learn investing 101 you can visit the the link down below:
2. Real Estate:
Real estate means property which consists land or building. Real Estate is the surest way you can get rich. How? You can invest in these types of land or building. You can buy a house by putting down 5% of the actual price and rent them out earning passive income. Now that house becomes your asset which will keep making you more and more money in time and also increase it’s own value overtime.
If you want to learn Real Estate 101 then visit the link down below:
3. Trading:
Trading refers to buying and selling of goods and services or in this case stocks. Trading is a process to buying and selling the stock. You buy low and you sell high. It is a hard skill because the graphs of the stock market always fluctuates which can also lose you a lot of money if you don’t have the skills of the trader. Before going into the path of the trading you must learn the skills of a trader and you must be ready to take losses. After you learn trading you can trade forex, stocks, bonds etc.
If you want to learn trading forex or stocks visit 1st and 2nd link respectfully:
4. Saving:
Saving is the oldest financial skill in the books of financial skills. The meaning of saving here is don’t save for your entire life and put it into your bank account but to keep your money safe and for any kind of financial trouble, You must need saved money. You can just put worth 3–6 months of fund for any kind of trouble to save yourself from it. Put 3–6 months of additional funds in to saving only if you have other incomes; if not I will still suggest you to save more of your money.
5. Learning Compound Interest:
We know most of the banks gives us simple interest which is just adding a portion of interest to a principal. Compound interest is different as it accumulation of a certain interest rate in a certain period of time. Compound interest is hard to understand but after understanding you will know how to double, treble your money with compound interest.
To learn compound interest I want yo to read the book or listen to the audio book:
The Compound Effect by Darren Hardy
6. Learning about tax:
Tax is the money taken by the government. It’s as easy as this to know what tax is. You must know that of how much you make will be partially given to the government as tax. According to Rich Dad Poor Dad book,” Taxes were made after Robinhood to take from the rich and give to the poor but the one who are actually being taxed are not the rich but the middle class and poor”, which means the purpose of the taxes are not of the same after the time. But still government will tax you if you don’t become clever as the rich. So, learn about taxes or have someone who know about taxes.
There are many types of taxes, but if you wanna learn about property tax visit the link down below:
7. Smart Spending:
When everyone makes money, they spend it in stuff too. Many buy ridiculous stuff, many spend than to save or invest and only some spend on their needs and invest the remaining money. The hardest part in smart spending is to classify what your actual need is. Make a list of it and buy only the needed stuff. It will put you ahead of many people. As wealth is not how much you earn but how much you keep.
8. Be presentable:
It is the most easy skill on this list. BE PRESENTABLE. You won’t know when you will meet opportunities but you must be ready for it. Being presentable doesn’t mean you need to wear a formal every time. It means that you need to dress according to the occasion and act according the situation. It doesn’t mean only in physical appearances but also in social behavior, have some social skills. Don’t be that guy who just hide in the corner. Go meet new people. It’s just as you listen,,” Network is your Net worth.”