How to become good at managing money?
- Thread starter Passiveearner
- Start date
I have an MBA degree. I applied some of the financial management knowledge I've learned to manage my personal finance. I think most important of all is not to spend more than you earn, have a savings plan and invest to grow your wealth.
Managing money can indeed be challenging for many people. It requires discipline, planning, and a solid understanding of financial principles. Developing good habits, like budgeting, saving, and investing wisely, can significantly improve financial management skills over time. Additionally, staying informed about personal finance and learning from past mistakes can help people take control of their finances and make better decisions.
To manage money well, you have to study how the mechanics of money and earning it works.
The best way to manage your money is to learn how. There are free online resources you can take advantage of.
- Thread starter
- #34
A person with high intelligence is more likely to be good at managing money. Combine this with the knowledge of finance, accounts, business, and you will be a person with good niny management skills.
Managing money is not in the measure that parents are criticizing every expense and every expense becomes a luxury. This is not a good approach to deal with childrens even those married and have their jobs. Some expenses are a luxury but many of them you cannot escape otherwise you become a punny saver.
- Thread starter
- #39
I think that managing money is a skill needed by almost all kinds of people. Having said that, managing money also requires managing your resources as well because resources are directly related to money and expenditures.
