Follow commandments of personal finance

So, I stumbled upon this article titled “Follow commandments of personal finance” and it got me hooked right from the beginning. Basically, the article highlights ten important commandments that one should follow in order to maintain a healthy financial life.

Let me break it down for you. The first commandment talks about setting a budget and sticking to it because it helps you control your spending and avoid unnecessary debts. The second commandment emphasizes on managing your debts responsibly by tracking your payments and avoiding high interest rates.

The third one talks about saving for a rainy day because life can be unpredictable and having an emergency fund can come in handy when unexpected expenses arise. The fourth one is all about investing your money wisely by diversifying your portfolio and seeking professional advice.

Another important commandment is to avoid overspending on things that don’t bring real value to your life. This can range from impulse buying to buying just to keep up with trends.

What I found interesting and relatable in this article is the seventh commandment, which talks about not neglecting your credit score. A few years ago, my credit score took a major hit because I missed a few payments on my credit card, and I had no idea how much of an impact it would have on my financial life until I tried to apply for a loan and was denied because of my low credit score.

All in all, following these commandments can help us achieve financial stability, avoid debt, and experience less financial stress in our lives. Whether you’re just starting out on your financial journey, or you’re already a seasoned pro, there’s always something new to learn about personal finance. So do yourself a favor and check out this article – it might just change the way you think about money!