How does a scarcity mindset lead to debt?
Before answering this question, it is better to discuss what is meant by ‘scarcity mentality’ and how it is related to finance, if a relationship can be explained at all.
According to the market survey 2020 by the Council for Economic Education, there are only 21 states in our country where high school students are required to sign in a personal finance course.
When you buy an item, you pay with your credit card. Then by the next month’s payment due date, you pay off your card balance.
Is that what it’s all about?
What is called a personal financial statement?
A personal financial statement is a document that has the details of an individual’s assets, liabilities, and net worth.
I guess all of you are aware of the “DINKs”, right? No? Then it’s better to give a small introduction, just to make it clear to every reader of this post!
If you’re about to retire, it’s quite natural that you might want to move to a more comfortable place than your existing home, after retirement. In that case, you won’t be thinking about renting and simply ignore the benefits of renting.
You might think you have done your job well, by getting yourself all covered up in multiple insurance policies, and now sitting back with hands behind your head, with the feeling of premium level protection.
The year 2020 is coming towards us with lots of surprises, both good and bad. We should prepare ourselves for anything good, and also if anything bad happens.