Concept 1: Keep the good habit of keeping financial records.
Nowadays, young people neglect financial management and spend money at will, resulting in a series of new terms and new human beings such as "moonlight clan", "neet clan" and "poor and busy clan". Therefore, young consumers should learn how to manage their finances and develop good consumption accounting habits.
The most important thing is to cultivate the awareness and concept of financial management, so that young people can actively understand various financial management methods and try to open the door to financial management. Secondly, bookkeeping is the first step in financial management. If you don't know where to spend money, what to spend and what not to spend, then why spend money? Third, adhere to fixed savings and accumulate initial financial capital. Many young people usually have money in their bank cards at the beginning of the month, but by the end of the month, there is not much left. The main reason is that they have not established correct consumption habits. The correct consumption habit is income-savings = consumption.
Concept 2: Compulsory savings lock assets
There are many tools that can be used for compulsory savings, such as bank deposit and withdrawal, fund fixed investment and so on. However, the strongest compulsory saving function is insurance products, which just helps young people overcome the shortcomings of not saving money and lock in some assets: 1. The planned investment time is agreed in advance, that is, the insurance payment period. Be sure to pay on time during the payment period, or someone will remind you in various ways. 2. The planned investment amount is agreed in advance, that is, the payment amount of insurance shall not be changed at will. 3. The planned collection time is agreed in advance, and there will be cost loss in advance, and the amount of loss is very large, forcing people to make compulsory savings.
Tip: Young people don't really have no money to save. Sometimes, forcing them to save three or four hundred dollars a month has no effect on their quality of life, but they are unconscious and don't want to take action.
Concept 3: The earlier retirement planning, the easier it is.
"Retired, I just made money, there are many things to do, buying a house, getting married, traveling ... too far!" In the eyes of young people, providing for the aged seems to be a very distant thing. They don't know that time flies, and decades are like a moment; They don't know that the future pension income will be far from meeting our needs. If they want to maintain their current living standard after retirement, they need to prepare a large sum of money themselves in addition to basic social security, which requires them to make personal financial planning as early as possible from their youth.
Tip: Young people's greatest wealth is time. If you don't have this kind of consciousness when you are young, you don't make a good plan, and you start to take action near retirement, it will be difficult to have ideal results. Everyone will face old age. Young people have a sense of planning ahead.
Financial management should first set aside daily expenses, then have some cash deposits for emergencies, and the rest can be considered for financial management.
The first thing in financial management is to do what you can. Don't invest all your assets. Managing money is not gambling. Then eggs can't be put in one basket. There can be a plan, combining low risk with high risk, and combining low risk with high risk. For example, some of them buy insurance, some buy low-risk bank financing, and some invest. Investment can consider stocks, futures and foreign exchange. Both will do.