Financial Education Hub
Learn about key concepts, strategies, and resources to help you make informed financial decisions.
Learn about key concepts, strategies, and resources to help you make informed financial decisions.
Learn about key concepts, strategies, and resources to help you make informed financial decisions.
Income and Expenses
Understanding the difference between gross and net income, fixed vs. variable expenses, and how to track both effectively is the foundation of financial literacy. Start by categorizing your expenses and identifying areas where you can reduce spending.
Saving and Compound Interest
The earlier you start saving, the more powerful compound interest becomes. Even small amounts saved regularly can grow significantly over time. Try to save at least 10-20% of any income you receive, whether from allowance, gifts, or part-time jobs.
Needs vs. Wants
Learning to distinguish between needs (essentials for living) and wants (things that enhance life but aren't necessary) helps you make better spending decisions. Before making a purchase, ask yourself if it's something you need or just want, and consider waiting 24-48 hours before buying non-essential items.