How can I achieve financial literacy?
By taski24
@taski24 (214)
Philippines
April 28, 2011 8:07pm CST
I have been reading books on how one can improve oneself by learning how to be financially literate. There are lots of international and local books on the subject and yet I still do not know how to start. It's just that I don't have the time and energy (and the money, as well) to try to be financially independent. Many tips have been given but I guess I find it hard to apply in real life especially because much of my income is dedicated to paying the bills and other fixed expenses. Would anyone care to share how one can achieve financial freedom?
2 responses
@magtibaygom (4858)
• Philippines
29 Apr 11
Enough for those readings and advices. What you need to do now is, get some action out there. You know, experience is the best teacher. Get a piece of the action by generating more income, then saving and investing your excess cash!
Creating multiple streams of income may help you reach your goals. If you depend on only one source of income, just like what you have said, nothing is left behind for saving and investing. What you need to do is, increase your income by generating multiple streams of income.
1 person likes this
@taski24 (214)
• Philippines
29 Apr 11
Thanks for the advice. My problem is, I am working full time, and I have very little spare time left (not to mention, little money, too) to use in the generation of multiple streams of income. I have plans to invest in a mutual benefit fund sometime in July. Do you have other suggestions to generate income and make money work for me?
@jrlcentral (2605)
• Roxas, Philippines
24 Sep 15
The first two things you need to do now are:
1. Reduce your expenses and live below your means - you can start by listing down your daily expense and decide which ones are the not-so-important once and take it out. e.g. softdrinks, smoke. or you may just reduce your expenses on these.
2. Next is find additional income source, which you can do even while you are working full time.
I have just started investing myself and I know it's difficult. That's why I started my blog so I can share what I have been doing... i might succeed on some actions and learn lessons from the wrong actions that I have taken.
