Recently, Dr Penny Pincher posted a list of 12 Personal Finance Skills Everyone Should Master for WiseBread. Here’s my take on 6 of the essential skills that made his list.
At the top of the list? Budgeting. Only around 33% of individuals really have a point by point spending plan, yet this is probably the most indispensable money skills to have. You need to understand where your cash is going and to begin putting it toward the things you want.
Another key skill: Negotiating your salary. Getting the best salary from a job offer is not only a key money skill, it’s also a great career skill. Too many people don’t like to negotiate because it can feel uncomfortable. However, employers often extend an offer knowing that you will make a counteroffer. It’s important to hone the ability to ask for what you’re need—and what you’re worth.
Take a look at my video or read the full story over at WiseBread.