Financial Literacy Made Easy


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Chapter 1

Personal finance advice can range from common sense (avoiding unnecessary expenses) to vague, almost impossible impossibilities (having the equivalent of your salary in savings before age 30). General tips on how to save money may come in handy for some disciplined, goal-oriented, personal finance people, of course, but not all are, and some people actually struggle to implement ways to save money. Thanks to Savebly for the collaboration.

Still, that doesn't mean that all personal finance advice should be ignored. Instead of abandoning all the money management tips, try to focus on the little ones. Tips to save money that can be started and finished in minutes are easier to achieve than general goals, such as using the debt snowball to pay off debt, and the financial benefits begin to add up almost immediately. Buying a coffee of 3 Euros per day does not seem like a big problem, but at the end of the year, that is more than 1,000 Euros in coffee. The best personal finance tips work the same way, but in reverse - completing them will save a little money at first, but after a year or more, the savings will really add up.

For small, actionable savings goals, an online personal loan and savings account service with financial trainings to help anyone get in monetary shape. Start with these little personal finance tips; once they have been marked, check out the Financial Training Plans for the largest lifts. Source:

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Stop paying for checking and savings accounts

Rates vary, but many banks charge 5 to 10 Euros per month for their services. Many banks have ways to waive the charge by depositing a certain amount of money into the account each month, maintaining a minimum balance, or meeting another requirement. Make sure you meet one of those requirements or start looking for a free account. (They are out there)

Once you are free of fees, financial gurus suggest depositing the same amount you were spending on fees in savings each month. Source:

Check the interest rate on your savings account

Even if you regularly deposit money in a savings account and work for your savings, those savings may not work for you. Check the interest rate on that savings account - some are under 1 percent, which means the money is barely growing. Some interest rates are 2 percent or more; With a rate like that, a savings account of 5,000 Euros will earn more than 100 Euros in a year, without you doing anything. Compare high prices to help you increase your savings efforts.

Automatically delete credit card numbers

One-click online shopping is a slippery slope. Retailers, and even Internet browsers, will offer to keep credit card information on file, so the next time you shop, you won't even have to take out your wallet. That's convenient, but it can also lead to thoughtless spending. The team suggests deleting that information and entering the credit card information every time you make an online purchase for a chance to pause and consider whether it's a good use of money.


In entertainment and spending

Commit to making an equivalent savings deposit for every fun or nonessential purchase. A 60 Euro sweater? Put another 60 Euros in savings. Your savings will grow and you will consider your non-essential purchases more carefully.

Increase your health savings account

Financing a savings account is a smart way to save some money on taxes and reduce the amount of money you may have to spend out of pocket on medical expenses. Making the most of this account, which allows money to accumulate year after year, by contrast, can make a true medical emergency, like a broken leg or a night in the hospital, feel financially manageable.

Ignore your increase

Earning more money does not mean you have to spend that money. Living below your means leaves the money to save savings, investments and more: the team suggests letting the new money earn interest on a CD or a high-interest savings account.

Celebrate your victories, then save the rest

A windfall from the tax season, a bonus, or a windfall gift may seem like gambling money, but put it to good use and do a lot to help achieve personal finance goals. Try to put only half in immediate needs, the team suggests, and save the rest for the future.



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