Recently I received an email asking me why there are so many articles and so many points of view about Personal Finance . In fact, Personal Finance addresses a multitude of items and subjects, since any item where optimization is possible and consequently an improvement in terms of money can then be considered an item in Personal Finance. However, I venture to say that in this article you will find everything you need to know about Personal Finance and in 6 simple rules:
Spend less than you earn
You should know how much you earn every month and how much you spend every month to figure out the difference. The difference is the net situation that you want as positive as possible. If you are negative you are in deficit and you need to cut costs, reduce benefits and seek to make more money.
Or Spend Less Or Earn More
We have previously noted that spending less is the most important rule in Personal Finance, however, if you can make more money then you are looking to control your Personal Finance. There are no secrets. The objective is to have a positive net position.
Living according to the Possibilities
Try to maximize all your tasks and all the attitudes you take in relation to money and never feel that you are misusing your money. Look at your spending habits and savings and try to correct everything you consider wrong or that give you inferior results.
To live a simple life is not to be miserable, but to live with all the necessary conditions for a comfortable and abundant life, but always with the feeling of the best and most profitable choice.
Learn to Manage Your Money
Assign importance to the future and to financial stability by learning to plan your retirement and building a family budget and emergency fund for hard days. Look at your credits from a global point of view, knowing each variable they have, such as amount, interest rate, processing fee, term, payment dates, end date, amortization charges, etc … Create a strategy for amortize credits with higher interest rates for greater savings.
Consider learning a little bit about alternative investments to traditional term deposits and savings and look to diversify your product bundle always with the aim of maximizing their profitability. Never be distracted when it comes to money.
Define Your Way
It’s worth noting that you want to organize your Personal Finance if you do not know where to start and where to walk. Setting measurable goals allows you to find your way. The goals may take some time to reach but you will know that each step you take is a breakthrough in your crusade.
Still Going Time
It is never too late to organize your Personal Finance, even if the objectives considered long term are not for your case.
There are short-term goals that provide financial stability and enable you to manage your money better, such as applying some savings tips individually or as a family, creating an emergency fund that guarantees financial stability for at least 6 months, analyzing your bank accounts and end commissions, negotiate your credits and create a strategy to repay credits or stop using credit cards are some short-term goals that are within your reach.
The important thing is to start today to organize your Personal Finance, starting with the management of your family budget always with the aim of identifying where it comes from and where your money goes. In this context, we also suggest that you experiment with the Boonzi management software where you can see all the potentialities of a correct management of your money.
With the clear knowledge of everything that surrounds your money you will know where to start.