This is a comprehensive guide for individuals who have never seen a budget in their life. Don't worry, it's not as painful as it sounds.
Financial Literacy 101: Understanding the difference between income and expenses.
Income: The amount of money you receive, usually through a job or inheritance.
Expenses: The amount of money you squander on unnecessary things, like video games and cat memes.
Cut the crap and follow the 50/30/20 rule: 50% of your income for living expenses, 30% for fun stuff, and 20% for saving.
Or, if you're feeling extra ambitious, 100% for living expenses and 0% for fun stuff.
Investing is like throwing money into a pit of despair, but with better returns.
Buy low, sell high, and pray to the financial gods.
Credit scores are like a report card for your financial behavior.
Don't mess up, or you'll end up with a score so low it'll take you years to recover.
And that's it! Congratulations, you're now financially literate.
Or, at least, you know the basics.
Want to learn more? Advanced Financial Literacy