Mark Hauser Provides a Simple Solution for Reaching Financial Literacy

What it means to be financially literate has changed as the economy has moved from cash to digital. It has become easier than ever to spend money both online and in-person with your own money and borrowed funds. And although keeping track of it all may seem daunting, Mark Hauser, a private equity expert, has an easy approach to financial success.

It is important to realize why financial literacy is important. Without a sound understanding of one’s own financial needs, means, and goals, it’s easy to slip into bad habits or apathy about wealth. Mark Hauser believes that defining what it means to be financially literate can be a first step toward bridging that gap.

He starts with budgeting. Taking an honest look at expenses creates a foundation for growth. A simple budget includes all income and expenses and provides the information needed to spend and save purposefully. Next, Mark Hauser advises on loans. There is more to consider than the amount of money to be borrowed and how it will be repaid. Loans will affect the bottom line in regards to interest incurred and over how much time. Once bills are paid, investments are used to maximize savings or make plans for the future. He stresses the importance of researching returns, risks, and outside influences. He adds that research should be continuous as it is all subject to change. Taxes are another factor to consider. How Americans are taxed varies by locality, life decisions, and money made and spent. Mastery of all these concepts allows for a path toward financial growth and security.

Mark Hauser provides a strategy for achieving this kind of competency. Financial books provide a reliable source of information, to start, and are available in various formats to purchase or borrow. Subscribing to a financial newsletter builds on knowledge and contributes toward continuing education. Financial podcasts are both informative and often entertaining. They can cover finances generally or with specialties in mind. Financial experts may also be consulted directly. Lastly, and most importantly, Mark Hauser underscores the need for a financial budget. It may be facilitated with fancy software or just a spreadsheet, but it is the crucial first step toward reaching any financial goals.

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