FINANCIAL LITERACY HUB
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About FINANCIAL LITERACY HUB
This is the official WhatsApp channel of THE FINANCIAL LITERACY HUB. *Aim* To provide financial knowledge, skills and confidence to individuals, Businesses and Organizations to help them manage their finances. Contact financial literacy hub Email address [email protected]
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*Budget* A budget is a MONEY plan, It is a plan that lays out what you will do with your money.A budget is a major tool to manage income and expenses. *Components of a budget* Income ๐List all sources of income Expenditure ๐List all items you want to spend on *NB.* ๐Savings are also considered as an expenditure, therefore included under expenditure. ๐Expenditure should not exceed income ๐ Keep in mind that it's better to spend less than you earn than spending more than you earn.
The Budgeting process ๐ฏ๐ฏ
*Today's financial literacy Tip* A genius who loses control of their emotions can be a financial disaster and vice versa ๐ค๐ค
*The Role of Failure in Success* Failure is often viewed as negative, but for entrepreneurs, itโs an essential part of success. Every failure teaches you valuable lessons and brings you closer to your goals. Embracing failure as part of the process allows you to take risks and innovate. ๐ Key Advice: ๐ฆฆ Reframe failure: Instead of fearing it, see failure as a learning experience that helps you grow. ๐ฆฆ Analyze and adjust: After each failure, review what went wrong and what you can do differently next time. ๐ฆฆ Keep moving forward: Donโt let fear of failure stop you from taking action. Every step forward brings new opportunities. ๐ฆฆ Takeaway: Failure is not the endโitโs a stepping stone to success. Learn from it, grow, and keep pushing forward.
Borrow knowledge from this sample and extract your own
*Financial Literacy Tip* Start small, start today ๐ค๐ค
As we look forward to our next subtopic "*BUDGETING*" There comes a question! Do you people always budget?