Economics Rules of Thumb

Three rules of Economics are:

• Don't spend more that you can earn. It is easy to go on a shopping spree or think you have to keep up with your peers by buying things to impress. But if you can't afford to buy it, meaning you are not earning enough to cover the cost, then don't buy it. If you are using a credit card, make sure you pay back the amount of money you borrowed in full, on a monthly basis.

• Make sure you are putting in the hard work and improving your skills beyond the money you are making. Just because you earn good money does not mean you stop improving your skills because if you are not improving you could be replaced in your place of work.

• Do all you can to raise your productivity. You can raise productivity by learning at all times. Don't be satisfied with doing your job the same every day. Learn ways to improve your productivity and also help the company raise their productivity. Think of yourself as an investment that has to be upgraded all the time. Think ahead to what skills you will need in 5 or 10 years time and work towards gaining those skills.