The global economy hasn’t fully recovered from the impact of Covid. Jobs were lost, and companies downsized while many shut down. The world was on the brink of a total breakdown as many people were forced to survive on their savings (for those that had any), others on the government’s goodwill (grants, subsidies, and relief funds). At the pandemic’s peak in 2020, American household debt increased to $14.3 trillion. The bulk of this debt was caused by poor money management decisions and abilities that were already a time bomb waiting to explode. Covid was only the trigger.
One lesson that episode taught us was the importance of money management and financial planning. According to the National Financial Educators Council, the average US resident lost $1,634 in 2020 and $1,389 in 2021 due to financial illiteracy and poor financial management skills. And while most people think managing finances is the next easiest thing after reciting the alphabet, the facts say otherwise.
If you want to learn how to manage your finances effectively, this guide is for you.
Steps you can take to manage your finances
Here are seven important steps to help you cut expenses and have more money in your pocket.
Check it out here-> https://workee.net/blog/7-easy-ways-to-manage-your-money-and-save-more
