If you are a Kiwi, these tips might help you out. We've partnered with Kiwi financial experts who are about to shed light on what it takes to become financially independent in 2022.
1. Know your expenses.
We really want to know your spending inside and out. Find out how much money is coming into your account each week or month after tax, and exactly what is leaving your account and on what. E.g, essentials like food, mortgage/rent, car payments, etc.
2. Create a budget.
Now that your expenses need to be sorted and compiled, you need to create a budget. You have to see where you can cut money and that's not essential. Spending $5 on coffee and a donut a day - is it worth it? Or can you refill your own mug at home. You would save over $1500 a year if you did. Cold cash. It's up to you.
3. A net debt.
Easier said than done, yes we know. But wipe out your CREDIT CARD debt, if you have one. It can really hold you back and ruin your life. Hopefully if you followed the tips above, you should be able to start saving a few hundred or more per month. Use that on your debts, if you have any and you'll be one step closer to financial freedom!