Our Blog

Money management guide

01-09-2020

When the prices of commodities are booming and expenditure is increasing in every manner, it becomes essential to make some planning for your income.

• The best way to take care of your money is to plan a budget. A budget should keep a track of all your expenses. The indispensable expenses like education fee of the kids, the bills, the fuel, taxes etc. should be estimated and subtracted from the monthly salary. Then monitor the other likely expenses like gifts on friend’s birthday in that month, your anniversary, weekend outing and the like. The amount that is left after reducing the essentials should be planned in such a manner that you end up with little, at times even negligible savings.

‘A Penny saved is a Penny earned’. Savings are very crucial in today’s life. But many people do not understand the relevance of savings. An individual, who develops the habit of saving money, never falls short of it especially in exigency situations.

If the outlay outweighs the income, situation is called a negative cash flow. In this case you ought to be extra vigilant while spending money. Try to reduce the weekend trips, partying at home or outside, purchasing needless items etc. If possible make a new budget where you have optimized the costs. It then becomes your duty to abide by this budget in order to avoid pitfalls. While if the case is other way round i.e. the cash inflow is more than its outflow, its time to cheer and of course make some savings for the future.

• Next good thing you can do to manage your money is to make investments. Investments can be of different types. You can invest in a property or land, in banks, in stocks etc. The investments you make not only keep your money secure but also give you good returns. Like money that is kept in a fixed deposit in a bank is supplemented with interest amount, the cash invested in purchasing shares of an eminent and successful company, always give a great output etc.

If you are investing in some trust or insurance policies, your wealth will not just be beneficial for you till the time you live; it will also be a financial security for your children and grandchildren in future. So investments generally are rewarding, they do not go futile. But before making any investment, you must enquire about the pros and cons of it. For instance, high risk is involved in investing money in the stock market as the economy is fluctuating unbelievably. Here, you should acquire complete information that when to purchase the stocks and for which company that will never let you down etc.

The case is not different with investing in property, but the risk factor is not so high here. The rates for property are never stagnant. So it is better to purchase the land when the market is down and sell it when the prices take a flight. In any case, first acquaint yourself with all the facts and basics, and then only invest. Remember your purpose is to make money from money not to lose with whatever you

• Are you a credit card bug? If you are and your expenses do not meet the income, forget the credit cards. The credit card money is charged with high rate of interest. Though it is the easiest form of money, yet it can be very troubling later. People keep on withdrawing the money from the bank’s or company’s credit and the interest simultaneously keeps on accumulating. Finally, the credit card bill comes as a nightmare to many. So it is better to avoid using credit card wherever possible. Try to use it only in case of an urgent situation.

• Keep an accountant if you yourself are not able to keep a track of all your transactions.
Money Management is simple, if you become a little judicious.

Latest Posts

BUY REAL ESTATE ONLINE BOOM OR BUST
05-14-2020

Offshore Investing: The Perfect Solution
04-09-2020

Learn How To Repair Your Credit By Following These Suggestions
03-11-2020

Consejos para recuperar su capacidad de crédito
02-14-2020

Money management guide
01-09-2020

5 Advantages Of Long Term Trading
12-12-2019

More than Just Money: Barter
10-11-2019

The Cutbacks in How to Save Money
06-17-2019

Struggling With Your Personal Finances Here Are Some Great Tips To Hel
03-14-2019

Tips On How To Maximize Your Personal Finances
02-05-2019

Tips to Better Manage Your Finances
01-09-2019

Tips to Help Baby Boomers Cut Costs Without Cutting Out Happiness
01-04-2019

Managing Your Risks in the Stock Market
11-08-2018

5 Pitfalls To Avoid For Your Next Investment Property
10-08-2018

​Cash Out Refinance Mortgage Loan
09-10-2018

Closed and Open Home Equity Loans
08-23-2018

HOW TO DEEP CLEAN YOUR SPENDING HABITS
07-26-2018

​Money Is In The Mind
07-23-2018

The Magic Bullet Theory of Investing
06-20-2018

The Importance of Saving Money for the Future
06-07-2018

Secured Loan For The Self-Employed
05-04-2018

The simple $10 debt elimination solution
04-11-2018

The simple $10 debt elimination solution
04-11-2018

​How to Manage Foreclosed Equity Loans
03-22-2018

5 Tips for Successful Trading
02-22-2018

Catch the Spirit of the Entrepreneur
02-07-2018

A Money Saving Exercise
01-25-2018

Offshore Investing: The Perfect Solution
01-10-2018

​Secured Consolidation Loans
01-04-2018

​5 Facts You Must Know When Applying for a Loan
12-22-2017

​The Risks and Rewards of Investing in Foreclosures
12-06-2017

3 Ways to Get the Lowest Rate on Your Home Equity Loan
11-22-2017

​Renting Versus Buying A Home
11-22-2017

5 Features to Look for when Choosing a Property Rental Service: ☝️
11-22-2017

​7 Things You Need to Know Before You Start Investing...
11-22-2017