Reasons you need to understand personal finance

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Personal finance is an important aspect of everyone’s life, including the ‘Generation Z’. Generation Z are individuals born between the mid-1990s and early 2010s.

If you were born during that period, you are most likely Generation Z. Right now, young people are taking giant strides and embracing the unconventionality of working standards since the pandemic. There are more financial resources to take over your finance and secure financial freedom. However, deciding to take this step may seem cumbersome as controlling your finance can be a quite a hard nut to crack.

There is a wide gap between your money, how to utilise it, and how to multiply it; it goes beyond getting a bigger income. If you lack the required financial literacy knowledge to turn your life around, then it might be hard to move past your current income into wealth or financial freedom. According to her, in order to include this in your money management tool, “Pay your essential expenses first such as housing, utilities, and debt payments before allocating money to discretionary expenses.”

 

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