"Personal Finance Culture: The 4Cs of financial success"

" \n It\u2019s\u00a0been six\u00a0(6)\u00a0months since the COVID-19 outbreak was officially declared a\u00a0global\u00a0pandemic by the World\u00a0Health\u00a0Organization (WHO)\u00a0on March 11th, 2020.\u00a0 \n \n\n \n With the full enormity of the pandemic in mind, we cannot come out of this without noting its attendant life lessons.\u00a0Interestingly, some of those lessons correlate with principles that can enhance your personal finance,\u00a0on your journey to financial freedom.\u00a0\u00a0 \n \n\n \n Financial freedom does not happen overnight, as it results from self-discipline and good money habits practised consistently over time. \n \n\n \n To help you on your journey to financial freedom, here are some 4Cs to aid you achieve\u00a0financial success;\u00a0 \n \n\n \n Creative \u00a0\u2013 Find creative ways to earn more money. Having more than one source of income is a good way to increase your financial security. I\u2019m sure the people who lost their jobs or took a pay cut during the pandemic will agree with me. \n \n\n \n Conservative \u00a0\u2013 Be conservative with your expenses,\u00a0and make sure to spend less than you earn. You can actually save more if you stick to a budget. It is okay to occasionally\u00a0reward\u00a0yourself,\u00a0and enjoy the finer things\u00a0of life.\u00a0But that should also be\u00a0on\u00a0a\u00a0budget.\u00a0 \n \n\n \n Consistent \u00a0\u2013\u00a0Form\u00a0the\u00a0habit of saving\u00a0and investing\u00a0a\u00a0part of your income. As far as savings go, you need to have at least 3\u00a0months\u2019 worth\u00a0of living expenses,\u00a0stashed away in liquid assets\u00a0\u2013\u00a0Emergency\u00a0funding,\u00a0to cushion the impact of job loss, unplanned medical expenses, and other emergencies. \n \n\n \n It also applies to small businesses \u2013 many SMEs without any financial buffer\u00a0felt the impact of the lockdown from Day\u00a01.\u00a0Investing, on the other hand, is the only way you can grow your money. You should take it seriously; develop the right mindset,\u00a0become\u00a0financially intelligent, and seek expert advice\u00a0before taking a step.\u00a0 \n \n\n \n Careful \u00a0\u2013 Be careful who you listen to. Not every investment advice is good for you,\u00a0and you should do your due diligence before releasing your money.\u00a0 \n \n\n \n So, will you be making any changes to your money management style? What did\u00a0you wish you\u00a0learnt about money pre-COVID-19?\u00a0 \n \n\n \n Importantly, we are not out of the woods yet. The virus is still out there, and you should stay safe, as Health is Wealth. \n "

"Personal Finance Culture: The 4Cs of financial success"

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