Please give a 1 minute speech on money management.
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1. Aggressively Pay Down Debt
The longer you hold onto debt, of any kind, the longer you keep yourself in shackles that prevent you from working toward your other financial goals.
2. Revisit Your Budget
You should be reviewing your budget regularly to ensure it's aligned with your priorities. Now's the time to do some serious tweaking to make sure you're budgeting for what matters you now
3. Get Specific About Savings
In your 20s, you should be working to build an emergency savings fund and putting money aside toward any short-term goals, like saving to buy a car. As you get older, savings goals emerge that are bigger than anything you've saved up for previously -- like getting married, buying a house, starting a family or building your children's college fund.
4. Check Your Insurance Coverage
You have more assets, and you may also have more people financially dependent on you. Make sure you have the coverage you need to protect you and your loved ones should the unexpected happen.
5. Get Serious About Retirement
As your salary increases over the years, the amount of money you're putting aside toward retirement should also increase. You should be putting away at least 15 percent of your income into accounts like a 401(k) or Roth individual retirement account.
The longer you hold onto debt, of any kind, the longer you keep yourself in shackles that prevent you from working toward your other financial goals.
2. Revisit Your Budget
You should be reviewing your budget regularly to ensure it's aligned with your priorities. Now's the time to do some serious tweaking to make sure you're budgeting for what matters you now
3. Get Specific About Savings
In your 20s, you should be working to build an emergency savings fund and putting money aside toward any short-term goals, like saving to buy a car. As you get older, savings goals emerge that are bigger than anything you've saved up for previously -- like getting married, buying a house, starting a family or building your children's college fund.
4. Check Your Insurance Coverage
You have more assets, and you may also have more people financially dependent on you. Make sure you have the coverage you need to protect you and your loved ones should the unexpected happen.
5. Get Serious About Retirement
As your salary increases over the years, the amount of money you're putting aside toward retirement should also increase. You should be putting away at least 15 percent of your income into accounts like a 401(k) or Roth individual retirement account.
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Money management is the method of saving, spending, investing, or otherwise management of the capital usage of a group or an individual.
Explanation:
• Managing our money involves time to understand and to improve on and to become expert, it takes more involvement and a solid understanding of our financial situation.
• There are multiple ways for proper money management. Such as creating a financial plan and sticking to it which helps us understands with clarity and full transparency our financial situation.
• Managing our money involves time to understand and to improve on and to become expert, it takes.
To learn more:
1. Write a short note on proper money management (50 words):
https://brainly.in/question/4304366
2. Write short note on Proper Money Management in 150 to 200 words:
https://brainly.in/question/4544372
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