Use Personal Finance Tools like “Mint” to start tracking your: Income, Expense, Assets and Liabilities.
1. Track Your Money
Observe your spending habits and ask before an expense - Is it worth it to spend or are you getting enough value for the expenses?
2. Observe Habits
To ensure security Insurance is important against catastrophic events. Compare various insurance plans & get coverage for Life, Health, Auto & Home
3. Get Insurance
If you want to achieve financial freedom, your priority should be to get rid of all your debts. Start eliminating high-interest debt as soon as possible.
4. Say No to Debt
Don't depend on any one source of income. Improve your skills and Do a side hustle to make new passive income streams.
5. New Income Source
Calculate your monthly expenses and have an emergency fund at least equal to your 3-month expenses and don't touch that fund.
6. Emergency Fund
If your employer offers a 401(k) match, that means they will contribute to your 401(k) A/c to match your contribution. To use this benefit Contribute enough.
7. 401(k) Contribution
HSA’s are triple tax-free means no tax is levied on HSA’s earnings, contributions & distribution. If you have a high deductible health plan then max it out to get the full benefit
8. Health Savings A/C
The easiest way is to buy high-quality index funds or ETFs. Invest regularly in high-growth stocks or index funds to build long-term wealth.