People are overwhelmed and intimidated by choices they feel ill-equipped to measure, but as Richie Norton says “To escape fear, you have to go through it, not around.” Investments have to be planned and done with a purpose, a meaning and to realize life goals.
When it comes to cutting things from your budget, it is often the smallest things that make the biggest impact. Think about items that you spend on monthly, that you could do without and always be open to exploring cost effective alternatives to products or services that you already use.
The perennial question of ‘Good Debt versus Bad Debt’ was looked at in the previous article. We concluded that debt should be taken on only when value is enabled in the long run. But optimally I posit that no debt is good, as one is borrowing based on anticipated income before it is actually earned.