COVID-19: 3 Important Financial Lessons For Youngsters
COVID-19: 3 Important Financial Lessons For Youngsters Source: Freepik Money management skills can make or break a person’s future. Poor money habits can lead to zero savings and high debt while good money habits can lead to financial independence and secure life. Especially during uncertain times like this during the COVID-19 pandemic, it is crucial to make sure you are on track with your finances. Gen Z and millennials need to learn how to manage money wisely since a misstep can lead to financial disasters. Just like health, wealth is an important component of life. Here are 3 important money lessons for youngsters who are starting to build their financial portfolios, especially during COVID-19. Budget, track and spend wisely Source: Freepik Once you get your salary, it is crucial to allocate your income to necessities, debts, savings, and so on. One of the most popular budgeting rules is the 50/30/20 rule popularised by US Senator Elizabeth Warren. She suggests that 50% of income