If you read Money Lessons Most People Have To Learn The Hard Way parts 1 and 2, then you know how important it is to: save for retirement early, pay more than the minimum amount on credit card debt and build an emergency fund. In part 3, we will cover three other financial concepts that will make your life a lot more prosperous.
- Know how insurance works: Insurance can be a mixture of confusing and boring. However, take the time to learn what kind of coverage you need.
- Paying yourself first: With monthly bills occurring regularly, you have to remember to pay yourself first.
- Pay off your smallest debts first: Once you get rid of small debts, the snowball effect starts to happen.