The 5 Pillars of Personal Finance Series Introduction
When you're new to personal finance, it can seem like an overwhelming topic to dive into. There is so much to learn, and there are thousands of books, articles, podcasts, blogs, and lectures that you could dive into. But at Upwardli, we get it; personal finance isn't the most exciting topic for most people, so it's understandable that you don't want to spend hours and hours learning about it.
Yet personal finance is so important that you don't want to get it wrong, either. Luckily, personal finance is not that complex. It can be, and making it seem so makes a lot of money for a lot of people.
But if you want to master personal finance, grow wealth, stay out of bad debt, and protect your family and assets, you just need a basic understanding of 5 concepts, the 5 pillars of personal finance. Those pillars are:
Earn: Getting the most money for your time and talents.
Save and Invest: The two words are often used interchangeably but are not the same thing. Both are important, but only one will help you grow real wealth.
Protect: Accidents, disasters, illness, and death happen. But you can protect your family and assets from these things.
Spend: Successful personal finance doesn't mean never spending money; it just means spending wisely.
Borrow: Not all debt is bad; sometimes, debt can help you save money and grow your wealth.
In this series, we will break down each of the 5 pillars of personal finance. Once you have an understanding of these simple concepts, you'll have the foundation upon which you can build a successful financial life.
Of course, if one particular aspect of personal finance interests you, it's great if you want to learn more. Or, if you find the entire subject fascinating, by all means, dive in! Learning is never a bad thing, and we promise personal finance doesn't have to be boring.
So this is the introduction to our six-part series on the 5 pillars of personal finance. Up next is Pillar #1, Earning.
How Upwardli can help
Upwardli was created to help those new to credit, including immigrants new to the country and the U.S. financial system, build credit quickly and easily. You'll be instantly pre-approved with no credit check or deposit. Each Upwardli account includes an unsecured line of credit to help build your credit quickly, and we report your progress to the credit bureaus.