Making and growing money is essential to the average person, including you. However, your journey to financial freedom is going to come easy; you’ll have to adapt and learn several skills that will help to make your journey smoother and more comfortable.
If you’re ready to buckle up and make better financial decisions this year, here are some skills to learn:
Bargaining
Bargaining will save you a lot of money, get you some great deals and help you on your journey to financial freedom. If the price of a product isn’t fixed or set in stone, you have the right to bargain and reach a mutual argument with the retailer/ salesperson. You’ll be surprised at how much you’ll be able to save by improving your bargaining skills.
Creative Thinking
This involves thinking outside the box and looking for unconventional ways to get things done and achieve a goal. You can apply this to your finances by looking for unique ways to save and grow your cash. By thinking creatively, you can find new ways to use certain old items in a new way, instead of throwing them away and spending more money to purchase new ones.
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Cooking
Okay, don’t roll your eyes at this one, you know it’s important. ? If you live alone and you don’t know how to cook, you probably spend a large chunk of your cash on takeout meals. Think of how much you’ll be able to save if you learnt how to cook and cut down on your food expenses. You can look up recipes of your favourite meals online or even check out some shows on Food Network.
Budgeting
Yep, the B-word is back again. Budgeting is immensely helpful in financial management, and once you master the skill, you’ll undoubtedly be glad that you did. A budget provides a blueprint to guide your savings and expenses. Budgeting involves sub-skills such as planning and organization, both of which will help you structure your finances and give you a solid footing.
Decision-Making
When it comes to your finances, you can’t afford to make bad decisions. You might find yourself in a position where you need to make choices that could have significant effects on your financial life. This is why it’s crucial to master the art of decision-making, which involves weighing your options and assessing the pros and cons. It also requires patience, analytical thinking and sound knowledge of specific financial terms, amongst others.
Smart Shopping
Smart shopping ensures you never go overboard when spending and acquiring new things. Shopping is an exciting experience, and it’s quite easy to get carried away. By learning how to shop smartly and wisely, you’ll be able to avoid impulse purchases and expensive regrets.
Learning From Your Mistakes
What are the regrets you have based on past financial mistakes? It’s essential to learn from them to ensure you don’t fall into the same trap. Do your future self a favour by ensuring you don’t make the same mistake twice.
Saving
Saving skills are fundamental and can be improved upon, over time. Analyze your current income and work towards saving a stipulated amount of money periodically. The percentage of your savings should increase as your earnings increase. In the long run, you’ll be impressed by the results.
Which of these skills do you often struggle with? Feel free to share with us!
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