3 Principles of Financial Literacy

If you want to become financially successful, there are some basic financial principles that you need to know. You need to be financially literate! But that is still not enough. You need to apply these principles consistently over time to achieve financial success. Here are the three important financial principles you need to know and apply to achieve financial success

Principle #1: Financial Planning
You need to have a plan for every money that comes into your hand or your bank account. Don’t spend impulsively! This is one major difference between the rich and the poor. The rich plan and manage their finances. The poor don’t!
Every money that passes through you can be categorized into one of the following: