You cannot stop inflation from happening. Prices of goods and services will go up. It is all part of the economic cycle. For as long as you are a consumer, you need to start caring about inflation because it will affect you whether you like it or not. No one is exempted from the pain of having to go through the rising prices of goods and services, wherever you are in the world. The good news is that there are some things that you can do to protect yourself from inflation
An income is the money that you received from work or from your investments. Without income, you will not be able to pay for your living expenses.
There are two types of income: active and passive income.Read More »
Understanding basic money terms should be your first step towards financial literacy. It would be very difficult to start learning financial literacy, much more overhaul your financial life without understanding the basics. Just like reading for example, you won’t be able to learn how to read without knowing the alphabet.
To live beyond your means simply means that you are spending more than what you can afford. Statistics show that a great majority of employees nowadays are living from paycheck to paycheck without any kind of financial cushion. While we all deserve to spend our hard earned income, spending beyond our earnings and racking up debt in the process is a recipe for financial disaster.
To live beyond your means is to spend more than you earn.