Financial Literacy 101

Master the fundamentals of personal finance and money management

6 Core Topics of Financial Literacy

Budgeting

Create a monthly budget and track expenses. The 50-30-20 rule: 50% needs, 30% wants, 20% savings.

  • Track all expenses
  • Set savings goals
  • Cut unnecessary spending

Saving & Investment

Build emergency fund of 6 months expenses. Start investing early for compound growth.

  • Emergency fund first
  • Regular SIP investment
  • Diversify portfolio

Credit Management

Maintain good credit score above 750. Pay bills on time and keep credit utilization low.

  • Pay on time
  • Keep utilization <30%
  • Monitor credit report

Asset Allocation

Diversify investments across stocks, bonds, real estate, and gold based on risk profile.

  • Mix of assets
  • Regular rebalancing
  • Age-based strategy

Debt Management

Minimize high-interest debt. Focus on debt repayment strategy.

  • Pay high-interest first
  • Consolidate if possible
  • Avoid new debt

Insurance

Get adequate health, life, and property insurance for financial security.

  • Health insurance
  • Term life insurance
  • Emergency coverage

Your Financial Pyramid

Level 1

Emergency Fund

3-6 months of expenses

Level 2

Insurance & Debt

Protect & pay off debt

Level 3

Investing

Long-term wealth building

Level 4

Advanced Goals

Real estate, business, etc

10 Financial Habits for Success

1
Pay yourself first - save before spending
2
Track your expenses monthly
3
Build an emergency fund
4
Invest in your education
5
Automate your savings
6
Review investments quarterly
7
Avoid lifestyle inflation
8
Have financial goals
9
Negotiate salary & rates
10
Keep learning about finance

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