Best Facts about money everyone should know

There are definitely certain things that you can do to bring prosperity but there are others that could bring you disaster. If you want to sleep soundly at your old age you should practice good habits at an early age. Let's discuss some really important facts about money.

  • Kids are expensive

Whether it comes from societal expectations or your parents, in deep somewhere in the mind we all know that having kids in your early 20s or 30s is not easy. Frankly speaking, raising a kid is not everyone's cup of tea. In fresh research, it is discovered that an average income married couple spends a huge amount of money on a single child. From the birth of a child until they finish school and after college. It takes a lot of money to provide a good life to a child and one would never want to take a backhand at this time. That's why it's very important to have kids not only you are emotionally ready but also financially ready. So don't push in pressure from people and don't rush into it. Prepare a financial cushion with your partner or family this way your kids will have a happy life.

  • It's not embarrassing for asking a promotion

If you are working in the same position for more than 3 years then the time has come to make your way up to grow your carrier ladder. Asking for a promotion is the right step to improve your financial situation. That's why you should not be shy or humiliated about asking a raise or a promotion. Just remember if you ask for a promotion expect more responsibility and increase workload

  • It's more profitable to rent than own

We always think that investing in real estate is a good decision but real estate itself getting cheaper. And when you rent consider the maintenance charges and even furniture charges also and all the expenses that come with the household.

  • Invest in your health and education

It's really hard to achieve success when you are not in the best shape of your health and that's why it's important to take care of yourself. Go on vacation once a year at least. Get enough sleep and eat the right food that makes you feel healthy. Good education in turn can open a lot of good doors of opportunities.

  • Don't invest in something you don't know well

Even if you want to get reach as simple as possible you need to be really calm and connective when it comes to the financial matters. Its always better to consult before you invest the money that you earned by your hard work. You would not want to lose it that easily.

  • don't borrow to pay old debts

There is an old saying don't rob Peter to pay a pal. Well, that praise is popular and stuck around for centuries for a good reason. Don't take out a new loan in order to pay an old one.

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