BEYOND THE BASICS OF PERSONAL FINANCIAL MANAGEMENT.
“TODAY WE ARE LIVING IN AN ERA OF DIGITAL WORLD WHERE EVERYONE WANTS TO EARN , MONEY BY HOOK OR CROOK”
SO LET’S START BY DISCUSSING WHAT IS
FINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT IS MAINLY BUDGETING, YES WE HAVE HEARD IT MANY TIMES,IT’S ABOUT HOW YOU MANAGE YOUR EARNINGS AND EXPENDITURE!!
IT SEEMS EASY BUT IT’S A CHALLENGING TASK FOR EVERYONE TO MANAGE THE USE OF MONEY.
BEYOND PERSON’AL FINANACIAL MANAGEMENT IS A PERSON’S ABILITY TO SOLVE BIGGER PROBLEMS ,HELP MORE PEOPLE,GAIN NEW KNOWLEDGE AND MOST IMPORTANTLY ACHIEVE MENTAL HEALTH[ which is the most prime thing in today’s life]
I FEEL PEOPLE SHOULD BE FIRST EDUCATED ON THE BASICS TO UNDERSTAND BEYOND!!
*SOME STEPS FOR PERSONAL FINANCIAL MANAGEMENT ARE-
.INCOME AND CASHFLOW MANAGEMENT- THIS IS ONE OF THE MOST IMPORTANT ASPECT,PEOPLE SHOULD START NOTICING AND RECORDING EVERY TRANSACTIONS,FOR EG YOU ARE VISITING A BAKERY SHOP SO YOU SHOULD KNOW THAT HOW MUCH YOU HAVE SPENT ON EATING A CAKE.
NOW A DAYS THERE ARE MANY MOBILE APPS LIKE SPLITWISE WHICH YOU CAN USE FOR DAILY TRANSACTIONS RECORDING.
.SAVINGS- COMMON MISTAKES DONE BY PEOPLE USUALLY NOWDAYS IS THAT THEY DON’T DO SAVINGS , SAVINGS ARE AS IMPORTANT AS WATER IN OUR HEALTH ,YOU DO SAVING YOU SURVIVE IN MARKET FOR LONGER TIME.
.HELPING OTHERS-ONCE YOUR PERSONAL FINANCE IS SET,IT’S TIME TO HELP OTHERS,BUT NOT AT YOUR OWN COST.YOU SHOULD LOOK INTO EVERY SITUATION
.HAPPY LIVELIHOOD-YOU MUST REMEMBER THAT YOUR MOTIVE TO EARN MONEY IS TO LIVE HAPPY LIFE,IF YOU ARE EARNING PLENTY OF MONEY BUT STILL YOU DON’T HAVE A HAPPY LIFE IT’S OF NO USE!!HAPPY LIUFE INCLUDES YOUR MARRIAGE,CHILDRENS AND YOUR PARENTS.ITS
IS RIGHTLY SAID “LOVE CAN’T BUY HAPPINESS”
YOU HAVE TO TAKE THIS AS A CHALLENGE TO DO GREAT FOR YOUR FAMILY!!
.SET LIFE GOALS-IF YOU DON’T HAVE GOALS IN YOUR LIFE YOU CAN’T ACHIEVE ANYTHING ,BIG OR SMALL,FINANCIAL AND LIFESYLE-YIU SHOUKLD CREATE A BLUEPRINT FOR ACHIEVING GOALS.YOU NEED TO BE SOECIFIC ABOUT WHAT YOU WANT TO ACHIEVE IN YOUR LIFE AND SHOULD DO THE BEST TO ACHIEVE IT.
.START INVESTING NOW-INVESTING IS ALWAYS A RISK TAKING STEP NUT IT TEACHES YOY MANY THINGS,BAD STOCK MARKET KNOWN AS BEAR MARKET CAN MAKE PEOPLE QUESTION THE WISDOM OF INVESTING BUT HISTORICALLY NOT A BETTER WAYBTO GROW MONEY.
.NEGOTIATE FOR GOODS AND SERVICES-NEGOTIATING FOR GOODS AND SERVICES IS REALLY A GOOD HABIT WHICH SHOULD BE FOLLOWED BY EVERYONE,MANY AMERICANS HESITATE TO NEGOTIATE FOR GOODS AND SERVICES BECAUSE THEY FEEL THEY WILL KLOOK CHEAP,BUT YIU SHOULD CONQUER THIS FEAR AND COULD SAVE THOUSANDS EACH YEAR,SMALL BUSINESSESS IN PARTICULAR ARE FOR NEGOTIATION AND SO IS BUYING IN BULKING OR POSITIONING YOURSELF AS REPEAT CUSTOMERS YOU CAN OPEN DOOR TO BIG DISCOUNT.
.MAINTAIN PROPERTY-MAINTAING IS IMPORTANT PART IN YOUR LIFE,IF A PROPERTY IS PROPERLY MAINTAINED IT AUTOMATICALLY INCREASES IT’S VALUE AND LAST LONGER.
.TAKE CARE OF HEALTH-HEALTH IS THE KEY TO YOUR BODY , IF YOU’RE NOT HEALTHY YOU ARE A LIABILITY TO SOCIETY,SO IT’S REALLY NECESSARY TO TAKE CARE OF YOUR HEALTH,PROPER CARE HAS A SIGNIFICANT ROLE IN FINANCIAL HEALTH TOO.
.MAKE A MONTHLY BUDGET-MAKING A MONTHLY BUDGET AND STICKING TO IT IS THE BEST WAY TO GURANTEE THAT BILLS ARE PAID AND SAVINGS ARE ON A TRACK.IT SHOULD BE A REGULAR ROUTINE.
.WATCH YOUR CREDIT SCORE-YOUR CREDIT SCORE IS A VERY IMPORTANT NUMBER THAT DETERMINES THE INTEREST RATE YOU ARE OFFERED WHEN BUYING A NEW CAR OR AC .IT ALSP IMPACTS THE AMOUNT YOU PAY FOR A RANGE OTHER ESSENTIALS,FROM A CAR INSURANCE TO LIFE INSURANCE.
.STAY EDUCATED ON FINANCIAL ISSUES-IT IS IMPORTANT TO STAY UPDATED ABOUT WHAT THE CHANGES ARE GOING ON ,CHANGES IN TAX LAW LAW TO ENSURE THAT ALL ADJUSMENTS AND DEDUCTIONS ARE MAXIMISED EACH YEAR.KEEP UP WITH FINANCIAL NEWS AND DEVELOPMENTS IN THE STOCK MARKET AND DO NOT HESITATE TO ADJUST YOUR PORFOLIO ACCORDIGLY.
THESE STEPS WILL NOT SOLVE YOUR MONEY PROBLEM BUT WILL GUIDE YOU IN MANY WAYS ,IT WILL HELP YPOU NDEVELOP GOOD HABITS THAT GET YOU ON THE OATH OF FINANCIAL FREEDOM.
SIMPLY MAKING A PLAN WITH PROPER TARGETS TO BE ACHIEVED CAN SOLVE A LOT OF PROBLEM AND HELP REACH YOU TO YOUR GOAL.
ONCE YOU START MAKING A REAL PROGRESS ,YOU WILL BE RELIEVED FROM CONSTANT PRRESURES OF DEBT.
AT END IT’S JUST THAT YOU SHOULD BE REGULAR WITH FEW THINGS TO MAKE YOURSELF A PERFECT FINANCIAL MANAGER.
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BEYOND THE BASICS OF PERSONAL FINANCIAL MANAGEMENT.
“TODAY WE ARE LIVING IN AN ERA OF DIGITAL WORLD WHERE EVERYONE WANTS TO EARN , MONEY BY HOOK OR CROOK”
SO LET’S START BY DISCUSSING WHAT IS
FINANCIAL MANAGEMENT
FINANCIAL MANAGEMENT IS MAINLY BUDGETING, YES WE HAVE HEARD IT MANY TIMES,IT’S ABOUT HOW YOU MANAGE YOUR EARNINGS AND EXPENDITURE!!
IT SEEMS EASY BUT IT’S A CHALLENGING TASK FOR EVERYONE TO MANAGE THE USE OF MONEY.
BEYOND PERSON’AL FINANACIAL MANAGEMENT IS A PERSON’S ABILITY TO SOLVE BIGGER PROBLEMS ,HELP MORE PEOPLE,GAIN NEW KNOWLEDGE AND MOST IMPORTANTLY ACHIEVE MENTAL HEALTH[ which is the most prime thing in today’s life]
I FEEL PEOPLE SHOULD BE FIRST EDUCATED ON THE BASICS TO UNDERSTAND BEYOND!!
*SOME STEPS FOR PERSONAL FINANCIAL MANAGEMENT ARE-
.INCOME AND CASHFLOW MANAGEMENT- THIS IS ONE OF THE MOST IMPORTANT ASPECT,PEOPLE SHOULD START NOTICING AND RECORDING EVERY TRANSACTIONS,FOR EG YOU ARE VISITING A BAKERY SHOP SO YOU SHOULD KNOW THAT HOW MUCH YOU HAVE SPENT ON EATING A CAKE.
NOW A DAYS THERE ARE MANY MOBILE APPS LIKE SPLITWISE WHICH YOU CAN USE FOR DAILY TRANSACTIONS RECORDING.
.SAVINGS- COMMON MISTAKES DONE BY PEOPLE USUALLY NOWDAYS IS THAT THEY DON’T DO SAVINGS , SAVINGS ARE AS IMPORTANT AS WATER IN OUR HEALTH ,YOU DO SAVING YOU SURVIVE IN MARKET FOR LONGER TIME.
.HELPING OTHERS-ONCE YOUR PERSONAL FINANCE IS SET,IT’S TIME TO HELP OTHERS,BUT NOT AT YOUR OWN COST.YOU SHOULD LOOK INTO EVERY SITUATION
.HAPPY LIVELIHOOD-YOU MUST REMEMBER THAT YOUR MOTIVE TO EARN MONEY IS TO LIVE HAPPY LIFE,IF YOU ARE EARNING PLENTY OF MONEY BUT STILL YOU DON’T HAVE A HAPPY LIFE IT’S OF NO USE!!HAPPY LIUFE INCLUDES YOUR MARRIAGE,CHILDRENS AND YOUR PARENTS.ITS
IS RIGHTLY SAID “LOVE CAN’T BUY HAPPINESS”
YOU HAVE TO TAKE THIS AS A CHALLENGE TO DO GREAT FOR YOUR FAMILY!!
.SET LIFE GOALS-IF YOU DON’T HAVE GOALS IN YOUR LIFE YOU CAN’T ACHIEVE ANYTHING ,BIG OR SMALL,FINANCIAL AND LIFESYLE-YIU SHOUKLD CREATE A BLUEPRINT FOR ACHIEVING GOALS.YOU NEED TO BE SOECIFIC ABOUT WHAT YOU WANT TO ACHIEVE IN YOUR LIFE AND SHOULD DO THE BEST TO ACHIEVE IT.
.START INVESTING NOW-INVESTING IS ALWAYS A RISK TAKING STEP NUT IT TEACHES YOY MANY THINGS,BAD STOCK MARKET KNOWN AS BEAR MARKET CAN MAKE PEOPLE QUESTION THE WISDOM OF INVESTING BUT HISTORICALLY NOT A BETTER WAYBTO GROW MONEY.
.NEGOTIATE FOR GOODS AND SERVICES-NEGOTIATING FOR GOODS AND SERVICES IS REALLY A GOOD HABIT WHICH SHOULD BE FOLLOWED BY EVERYONE,MANY AMERICANS HESITATE TO NEGOTIATE FOR GOODS AND SERVICES BECAUSE THEY FEEL THEY WILL KLOOK CHEAP,BUT YIU SHOULD CONQUER THIS FEAR AND COULD SAVE THOUSANDS EACH YEAR,SMALL BUSINESSESS IN PARTICULAR ARE FOR NEGOTIATION AND SO IS BUYING IN BULKING OR POSITIONING YOURSELF AS REPEAT CUSTOMERS YOU CAN OPEN DOOR TO BIG DISCOUNT.
.MAINTAIN PROPERTY-MAINTAING IS IMPORTANT PART IN YOUR LIFE,IF A PROPERTY IS PROPERLY MAINTAINED IT AUTOMATICALLY INCREASES IT’S VALUE AND LAST LONGER.
.TAKE CARE OF HEALTH-HEALTH IS THE KEY TO YOUR BODY , IF YOU’RE NOT HEALTHY YOU ARE A LIABILITY TO SOCIETY,SO IT’S REALLY NECESSARY TO TAKE CARE OF YOUR HEALTH,PROPER CARE HAS A SIGNIFICANT ROLE IN FINANCIAL HEALTH TOO.
.MAKE A MONTHLY BUDGET-MAKING A MONTHLY BUDGET AND STICKING TO IT IS THE BEST WAY TO GURANTEE THAT BILLS ARE PAID AND SAVINGS ARE ON A TRACK.IT SHOULD BE A REGULAR ROUTINE.
.WATCH YOUR CREDIT SCORE-YOUR CREDIT SCORE IS A VERY IMPORTANT NUMBER THAT DETERMINES THE INTEREST RATE YOU ARE OFFERED WHEN BUYING A NEW CAR OR AC .IT ALSP IMPACTS THE AMOUNT YOU PAY FOR A RANGE OTHER ESSENTIALS,FROM A CAR INSURANCE TO LIFE INSURANCE.
.STAY EDUCATED ON FINANCIAL ISSUES-IT IS IMPORTANT TO STAY UPDATED ABOUT WHAT THE CHANGES ARE GOING ON ,CHANGES IN TAX LAW LAW TO ENSURE THAT ALL ADJUSMENTS AND DEDUCTIONS ARE MAXIMISED EACH YEAR.KEEP UP WITH FINANCIAL NEWS AND DEVELOPMENTS IN THE STOCK MARKET AND DO NOT HESITATE TO ADJUST YOUR PORFOLIO ACCORDIGLY.
THESE STEPS WILL NOT SOLVE YOUR MONEY PROBLEM BUT WILL GUIDE YOU IN MANY WAYS ,IT WILL HELP YPOU NDEVELOP GOOD HABITS THAT GET YOU ON THE OATH OF FINANCIAL FREEDOM.
SIMPLY MAKING A PLAN WITH PROPER TARGETS TO BE ACHIEVED CAN SOLVE A LOT OF PROBLEM AND HELP REACH YOU TO YOUR GOAL.
ONCE YOU START MAKING A REAL PROGRESS ,YOU WILL BE RELIEVED FROM CONSTANT PRRESURES OF DEBT.
AT END IT’S JUST THAT YOU SHOULD BE REGULAR WITH FEW THINGS TO MAKE YOURSELF A PERFECT FINANCIAL MANAGER.