Number 1 question that I get from my peers is how they can start investing. I always respond with "do you have a stable cashflow?" They scratch their heads and give me a pessimistic response to budgeting, as if it's their worst enemy. Just like how you would learn to catch before playing baseball, budgeting is an essential skill that you need to acquire before you start putting your hard-earned money to work for you.
Set Your Goals
Everyone has goals, and they vary from people to people. Your goals will allow you to build the financial road map that you will need to achieve them. Whether it's a short-term or long-term one, it is crucial to define your financial goal before developing a plan for it.
Budget for Success
Once your goals have been set, you will need to build a plan for it. Take some time to collect your financial information and understand your strengths and weaknesses. Challenge yourself to be transparent and optimize your cash flows.
On your way to financial success, you will be faced with series of hurdles with taxes being your biggest enemy. It's not so difficult to come out as the winner, if you take the time to do some research and plan ahead for it. Soon enough, you will have complete control over them!