Managing finances

Over the course of my career (which has many ups and downs) and my life I have come to realise that having the skill to manage our finances is important in many aspects, especially when we are talking about settling down, starting a family.

Studies has shown that one of the main key factors that lead of a couple quarrelling is over money. Most of the time the reason is due to improper management of in-flow and out-flow of funds. Though not much, here are some tips to share with everyone.

 

Needs and Wants

A simple way to help in managing outflow of money is cytotec generic to categorize every single expenditure into either a ‘need’ or a ‘want’. ‘Needs’ are stuff which you need to spend on to survive, like paying for daily food and bills. ‘Wants’, on the other hand, are stuff which is good to have but not a necessity. A good example will be getting the iphone off the shelf when one still has a working mobile(cell) phone.

There are always a million reasons to justify why a ‘want’ is actually a ‘need’. No matter how much one tries to cover, if that thing is not a necessity for survival. It is a ‘want’.

Once 7 buy propecia and proscar we have our expenditure into the 2 categories we can start shaving down the ‘wants’ while maintaining the ‘needs’. With this the overall spending will be lower and in turn we can save more.

 

Be careful with credits

A credit Buy Levitra Super Active+ card allows one to use ‘future money’. Get an item first and pay at the end of the month. This is a very valuable asset if it is used in the right way. Credit cards also facilitate the ability to pay for an item over a course of time, like installments over 12 months. Although the overall price of the item is a lot higher than its base price, it allows the kamagra tabs buyer to enjoy the benefits of owning that item first before paying it off fully.

There is side-effect of credit cards. They increase the urge of ‘impulse buying’. Buying things on impulse without actually thinking it through will have drastic effects on one’s finanicial health over the next few months. The monthly installment of that item might be actually be eating into the more important payments like utility bills. Always think first before committing a ‘monthly relationship’ with a credit card.

 

Plan ahead

We are all given the gift of analytical thinking, use it to our advantage. Planning ahead allows one buy cialis cheap to take note of what is his/her goals and start saving funds for them. I am sure that many of us are “early month rich, end of month poor” type of people. We just use up whatever money we get from our salary during the course of the month and start praying for an early release of next month’s wages.

One way to prevent this is to determine a fixed amount to save every month and start saving that money the moment we get our pay. With that we can spend the rest of the money and not worry about having no savings for that month. Next is to plan for our goals and determine how much money is needed to realise them. Dedicate an amount for them too at the start of the month when the wages are in.

 

Beware of vices

Addiction to vices will damage financial health, with gambling taking the lead. Keep these to a minimum and one will see a good improvement in the amount of money they can save or spend in other stuff.

In recent years gaming addiction is also added into the ‘Vice’ category. I have seen and heard stories of friends losing their jobs, relationships due to heavy addiction in games. Just remember, a job feeds you. A game does not. Do not even try to justify that it is worth losing a source of income over something that only lasts a couple of years max.

 

What are your suggestions in finance management?

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