Understanding money and finance
There is so much advice and information on how to increase your income, how to invest it, and how to spend it! In a perfect world we would all live within our means: spend no more than we earn. And if there's any left over after bills and other essentials, we would save some of that for a long-term goal, like a holiday, kids’ school/uni fees or a deposit for a house.
Most of us use credit cards or loans. Be careful to ask or read about the conditions, penalties, fees, term (how long you'll be paying), and interest rate charged. You could end up paying twice as much as the cost of your purchase, once they are all added on. Is there a chance you will miss a payment or be late paying? If you do this even once the penalty fees can be big, making the debt even harder to pay off.
Beware of spending extra to get frequent flyer or reward scheme points: will the extra costs be more than the savings you get? If you have a credit card, try to pay it off in full by the date shown on the bill.
Talk to your bank about putting some money into a savings account – often if you leave the money alone each month you will earn extra interest.