Effective Financial Decision-Making Strategies for one to follow
There is a huge difference between spending and investing funds. Here are top financial decision-making strategies one should know. In general, you spend money to keep your standard of living up, which includes paying bills, utilities, and rent. You must also pay for food, transportation, debt, subscription services such as Netflix and Spotify, your phone bill, and other fixed expenses. These are the types of expenses that you can no longer recover—they are unrecoverable. Meanwhile, investing is the purchase of assets that will benefit you in the future, such as an investment vehicle. These are the intelligent purchases that will allow you to earn extra money. The primary distinction between spending and investing is that consuming consumes your money, whilst investing allows you to expand your money. Now let's look at how you may make wise financial decisions to improve your financial future by managing your money. ." Here are the three top financia...