OK...so you may not know what kind of engine is in your car, or how many BTUs your wall heater kicks out, or how many teeth you have in your mouth...but for crying out loud...know your financial life!
A prudent individual knows a few basic things:
1. Bank and investment account balances
2. Credit score
3. Credit balances and interest rates
4. Gross and net monthly income/expenses
5. Monthly budget/cost of living
By knowing these basic things and keeping a steady hard-copy file of all things financial in your life, then you will gain not only financial competence, but a much higher amount of buying power and negotiating leverage.
Know what you can and cannot afford and spend and save accordingly.
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