1. Investment Strategies:
• Explore diverse investment opportunities (stocks, crypto, ETFs, etc.) and evaluate risk-reward trade-offs.
• Learn to use key financial metrics like ROI, NPV, and IRR to make informed decisions.
• Allocate a portion of your monthly income towards investments and track performance regularly.
2. Financial Tracking:
• Build or use tools (e.g., Excel or apps) to monitor savings, expenses, and investments.
• Include categories like income, savings, investments, and net worth for a holistic view.
Business Finance
1. Cost Analysis:
• Learn how to create business cases for project evaluations (e.g., comparing build vs. lease scenarios).
• Focus on analyzing payroll, operational costs, and revenue generation to identify efficiency gaps.
2. Revenue Optimization:
• Research pricing strategies and cost structures to maximize profitability.
• Identify financial inefficiencies and explore ways to reduce unnecessary expenses.
3. Financial Modeling:
• Practice creating budgets and financial summaries using Excel, integrating various scenarios for projects.
• Understand manpower cost variances and their impact on overall profitability.