Outlook Money
It is important to set a monthly budget for yourself and rigidly follow it to keep track of your money and instill good financial discipline.
Create a separate emergency fund to keep your finances in a manageable manner. Save three times your monthly expenses if you are a beginner for job loss safety.
Do not put all your eggs in one basket. Diversify across asset classes to absorb the loss from one investment with the gain from other to avoid significant financial losses during a downturn.
Plan the distribution of your estate. It is important to determine a beneficiary and have a Will and an executor to ensure your wishes are honoured. Keep your Will updated.
Plan for retirement early to get the benefit of compounding, and make a strong portfolio. Seek professional help if necessary to avoid financial losses.
If you have big dreams, then start working towards them now and make a financial roadmap to reach those goals. Start investing early to achieve your goals.