7 Basics Everyone Should Know

1) Never borrow to consume (new car, new laptop,big items, etc). Wait if it isn't urgent and fully necessary.

2) Don’t dig a new hole to cover another, especially if the fees and interest are higher.

3) Put aside a good sum for unexpected expenses. Because you will never have unexpected salaries.

4) Don’t mistake past experiences as knowledge. The market changes all the time. Got your fingers burnt? Made a windfall? None of these has a bearing on your present and future.

5) Consult and trust in finance professionals. Listen, ask questions, and analyse what is being said. Don’t hire a lawyer and speak yourself.

6) Never incur late fees. They are too costly and make you pay more than you should. On the same note, whenever possible, call to waive annual fees, especially on cards you took from loans. If it is a loan agreement, check whether the agreement specifies on annual fees.

7) Go out and check what is available on the market. Browsing finance products make you more savvy, and allows you to make an informed decision when opportunities strike. Do not just look at banks - they have never made anyone much wealthier