Managing your Money

raaman

Well-known member
Managing your money correctly brings great benefits for you and your family. Knowing how to manage your money, recognizing between need and desire, and using financial services correctly is of the utmost importance.

To begin your path to good personal finance, you must know how to better manage your money. For this, you must make a list of your income and expenses in a certain time, that is, create a budget.

With this information, you can start making the right decisions about your money, and you will also know how much to save per month, when your money is slipping away.
 

Preferito

New member
Thanks so much for this good advice. As for me I manage my money by limiting my expenditure. I only go for the things I need and not for the ones I want.
 

Donkiz

Well-known member
The major thing about managing your finance is having financial discipline, there are some people that are reckless in spending to the extent that no matter how much they make on monthly basis, they won't be able to save a dime from it.

Being able to streamline your spending by making a budget of your expenses monthly to help you track your spending is very important, but someone that does not have financial discipline will still not be able to differentiate between wants and needs when making a budget and will end up spending more than required.

So it's important that we discipline ourselves very well so that we can be able to make better financial decisions.
 

Ahmedo24

Well-known member
In some situation you see people earning very big income from their source of employment or big profit from their business yet they don't make progress or achievement compare to those earning small income or profit from business, the major reasons are two planning or higher taste above their cost of living.
If you have financial discipline you can always plan your self such that all that you will be doing for the month you list them and monetize them , then budget 20% extra for emergency or unplanned expenses then ensure you commit your self in contributions, and businesses that will need you to put money in it at Interval or project.
 

Jonaville

Well-known member
One major reason that causes financial problems for people is lack of money management. Sometimes people buy what they don't need or what they have very little use for. And they want to acquire the latest gadgets, fashion, etc just because they want to feel in Vogue. This type of reckless spendings has caused many to become financially unstable. One thing that can help is if people make a note on how much they spend in relation to their income. This will help them to determine whether they are living within their means or above it. And they can make changes where and when necessary.
 

Abigael

Well-known member
Personal financial managements is really of high importance. One needs to manage money well in order to avoid getting into debts or going broke all the time. Budgetting is really of utmost importance when it comes to managing your money. You need to have a plan of how to use it.

Grouping your expenses into needs and wants is also very key in money management. You need to avoid buying unnecessary things that you don't really. Above all, money management requires self discipline. It takes alot of self control to say no to yourself against spending unnecessarily.
 

Freshkaz11

Well-known member
Thatsv
Managing your money correctly brings great benefits for you and your family. Knowing how to manage your money, recognizing between need and desire, and using financial services correctly is of the utmost importance.

To begin your path to good personal finance, you must know how to better manage your money. For this, you must make a list of your income and expenses in a certain time, that is, create a budget.

With this information, you can start making the right decisions about your money, and you will also know how much to save per month, when your money is slipping away.
Thats a true talk and well said as well..Though is not that easy in this part of the world we are living to safe money,but we will really give our best and put all and everything is God hand,coz is the only one who could put the habit of saving in mans heart..
 
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