📌 Full show notes at https://www.luisfelipeduque.com/049
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Research done by LendingClub Bank found that almost 40% of US citizens with incomes over $100,000 a year live paycheck-to-paycheck. Since engineers and other people in STEM make a pretty good salary, all you need to do to be part of the remaining 60% is learn the basics of personal finance. And that’s exactly what this episode will do for you.
Today, Luis shares the five principles you need to start taking control of your financial life. He uses examples from his personal life about how he manages his own money, the resources he uses to learn about it, and how you can do the same. After all, money management is a matter of specifying what you care enough about to spend your money on, and cutting back on what you don’t.
What You’ll Learn:
Why You Should Learn and Talk About Money
The Five Basic Principles of Personal Finance You Should Know―And Apply
How To Properly Deal With Your Higher Income as a College Graduate
Money Managing is Both Emotional and Rational. How Do You Handle It?
Different Money Management Methods (Envelopes, 50/30/20 Rule, etc.)
How Budgeting Will Get You in Control of Your Financial Life
Why You Should Look at Your Expenses as Percentages
How to Spend Your Money Effectively
Why Increasing Your Income is Just as Important as Cutting Back on Your Expenses
Finding Other Ways to Make Money―And Why It's Easier Than Ever Before
Why You Need an Emergency Fund
The Rule of Thumb for the Size of Your Emergency Fund―And Where to Save It
The One Percent Rule You Should Follow For Home Maintenance
How a Good Credit Score Can Save You Tons of Money in The Long Run
Saving for Retirement: Colombia vs USA
Roth IRA vs 401k vs HSA
The Benefits of an HSA Account
Why You Should Start Saving for Retirement as Early as Possible
Music by Jack Winders
Intro: Midwest Folks
Outro: Southern Skies
Website: https://www.jackwinders.com
Facebook: https://www.facebook.com/JackWindersMusic
Follow him on Spotify: https://open.spotify.com/artist/0msfukZWdVoUHIvpFvanTU?si=U5jKEdjfSTOetL12ispLcg
Connect With Me
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