Personal finance isn’t just about dollars and cents.
The reason it’s so hard to master? It’s actually a multi-disciplinary field that requires foundational skills ranging from psychology to negotiation.
The Personal Finance Landscape
Navigating the personal finance landscape requires skills or knowledge in the following foundational areas:
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- Analytical skills
- Forming Habits
Using this knowledge, you can approach the vast personal finance landscape – the key questions you must be able to answer to get the most out of your money:
How can saving money be as frictionless as possible?
What is the difference between spending needs and wants?
How can credit be used wisely and carefully to help achieve personal goals?
How can important concepts like compound interest be used to make real-world financial decisions?
How can I make a living that gives the income to be healthy financially?
How can I best prepare for the worst-case financial scenario?
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Article by Wealth 101, Visual Capitalist