Question

D. What are four rules that help people become better money managers?
UNIT 4 ECONO

Answer 1

Four rules to become better money managers: create a budget, save and invest, avoid debt, and continuously educate yourself.

Step-by-step explanation:

Four Rules to Become Better Money Managers:

1. Create a Budget: Start by tracking your income and expenses to establish a budget that aligns with your financial goals. This will help you prioritize spending and save for the future.
2. Save and Invest: Set aside a portion of your income for savings and investments. This will help you build an emergency fund and grow your wealth over time.
3. Avoid Debt: Minimize borrowing and use credit responsibly. Prioritize paying off high-interest debt and avoid unnecessary interest charges.
4. Continuously Educate Yourself: Stay informed about personal finance topics, such as tax planning, investing strategies, and retirement planning. This knowledge will empower you to make better financial decisions.

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