Managing Your personal Finance right.

Managing Your personal Finance right.

Everybody have a dream.
All of us have a dream for children and ourselves. But we can fulfill our Dream only if we manage our finance well and start the budgeting and Controlling your finance within the budget from early life.

Start your saving early.
Whatever may be your income, control your expenses, control Your wishes and save something daily, weekly, monthly and yearly. Start with RS: 1 or $ 1 per day or per week. You shall never regret in life.

Budget and manage your cash flow.
You know your income and try to limit your wishes and dreams within your means. You think, plan and work hard for expanding your income. But you spend today as per your income.

When you prepare your cash flow statement for a week or month, you clearly know where your money shall be spent and where do you stand. Discipline in personal finance is a must. When you create a budget, you begin to see how much, if any is left over.

Control Your Expenses.
When you have weekly or monthly cash flow statement or budget statement you know your means and end. You shall work to remain within your means and avoid avoidable expenses. These are this is as simple tools for cutting back on some of the little things that can add up.


Use credit Cards judicially
Credit cards are most probable tools to put you in debt trap, If you don’t use the same judicially. Credit cards are good for Connivance for not to carry cash everywhere. But don’t spend on anything just because you have not to pay cash immediately.

Never plan to pay only 5 % of card balance and you shall be paying 5 % for your life time on balance of one month. Be aware of Credit cards debt trap for happy and peaceful life.

Get rid of your debts early.
For whatever reasons and circumstance, if you are in debt trap, Don’t waste time and you shall be into vicious circle soon and you shall find hard to go out of the same. Take actions early and fast. Using credit and taking on some debt itself isn’t necessarily a bad thing, but when you can't keep up with the payments or borrow more than you can afford to pay back, you could be in trouble. Paying the minimum on your credit cards will end up costing you thousands of dollars in interest over that period.

Read more articles in this blogs to get out of your debt trap early.
Save yourself from the vicious circle.

Plan early for your retirement.
You must plan early for your retirement. You need to start early to save for retirement. It is very important than ever to save and plan for your own retirement. You have find ways and means to save for retirement. Don’t limit yourself with feeling that you simply don’t have enough money left over each month to save. Retirement savings need to become a priority instead of an afterthought.
There are number of tax saving investments that allow for tax deductions, credits and even tax free earnings on some retirement savings.

Start Insurance early.
Insurance is most important part of your personal finance planning. You've worked hard to build a solid financial provisions for you and your family, so it needs to be protected. Accidents and disasters can and do happen and if you aren’t adequately insured it could leave you in financial ruin. You need insurance to protect your life, your ability to earn income, and to keep a roof over your head.

Provide Emergency Funds.
We are living in highly dynamic times and never know what shall happen to you and your company and your job. Anything can happen tomorrow. You need to be prepared for all eventualities. It is important to create emergency fund with specific tools.