How to Manage Personal Finances

[Suba]

Many people have neglected to manage personal finances, so that even if their income is sufficient to meet monthly needs, because there is no balance between income and expenses, serious problems will arise, such as debt etc. So how do you manage the right personal finances?

 

[Starmix]

We need to have financial literacy. In my case I save 15% of my active salary. I bought insurances, I insured my properties and this week, I started my milk tea business thru franchising. It's good to save for the rainy days and old age preparations. Our health and income deteriorate when we're old.

 

[cherry123]

My own is always to look for a way to reduce my expenses and increase my income. This way I balance my financial life

 

[Pokie0324]

I would recommend to have budget list and do not expend on things that aren't in the list.

 

[Starmix]

One best way is to adjust our expenses, we have to live within our means and if possible live without means, LOL. Being thrifty is admirable and being extravagant is the downfall of our savings, thus we cannot inherit peaceful living when we're out of budget. It is hard to go back so while it does not happen yet, we have to cut unnecessary things , just a little sacrifice.

 

[Shavkat]

If you are familiar doing some basic accounting, then you can do balance sheet, income statement and the like. If you can do these things, then you can able to manage it.

 

[Reedex]

Managing personal finances is a great experience that you need to possess.

 

[hastral45]

In order to manage effective personal finances, one would need to engage the services of financial consultants who would be able to use his expertise on guiding one.

 

[Chibson]

In order to manage effective personal finances, one would need to engage the services of financial consultants who would be able to use his expertise on guiding one.

that is if you have a lot of money to hire their services. If you're someone who do not have a lot of money you need to do that by yourself.

 

[uptrendfinancialsignal]

Personal finance is a very good attribute and you must be able to ensure you manage your finances if you want to make success.

 

[Chibson]

Personal finance is a very good attribute and you must be able to ensure you manage your finances if you want to make success.

anybody who wants to make success in anything must understand the concept of personal finance. He or she must know how to manage them well to be successful.

 

[Bisolami]

Many people have neglected to manage personal finances, so that even if their income is sufficient to meet monthly needs, because there is no balance between income and expenses, serious problems will arise, such as debt etc. So how do you manage the right personal finances?

I think it will be nice for people to have a budget that we can follow. It will be very helpful

 

[Springtime]

I spend less than I earn; I save for emergencies; I save for retirements; I save for taking leisure trips; I invest my money to build wealth.

 

[RicAngelo]

I spend less than I earn; I save for emergencies; I save for retirements; I save for taking leisure trips; I invest my money to build wealth.

Totally agree with your point, spend less and earn more. Saving for emergencies is A MUST and saving for leisure is for sure we need it and Invest money for short and long time period are the best things to do. So, you did great so far, my friend

 

[Chibson]

I think it will be nice for people to have a budget that we can follow. It will be very helpful

Following a budget is always important and necessary. People who do not follow budget always end up spending a lot of money unnecessarily.

 

[Bisolami]

Following a budget is always important and necessary. People who do not follow budget always end up spending a lot of money unnecessarily.

It is very necessary to make a budget and also follow the budget. It may be very hard to follow the budget but it will be good to follow up

 

[RicAngelo]

It is very necessary to make a budget and also follow the budget. It may be very hard to follow the budget but it will be good to follow up

Indeed, stick to the budget is the only way to do now. Do not spend money for something that you want, only buy the things that we need. Its hard though but if we stick to the budget, we will get use with it and everything going well after that

 

[Bisolami]

Indeed, stick to the budget is the only way to do now. Do not spend money for something that you want, only buy the things that we need. Its hard though but if we stick to the budget, we will get use with it and everything going well after that

I think some people still do not know how to make a budget because they tend to budget some things that are not necessary

 

[RicAngelo]

I think some people still do not know how to make a budget because they tend to budget some things that are not necessary

Yes, people still do not understand the differences between what they need and what they want. This is basic things and a lot of people still cant see it clearly. We dont have to make budgeting like financial planner, at least we can divide our montly income into several purposes and stick to the plan, though

 

[Bisolami]

Yes, people still do not understand the differences between what they need and what they want. This is basic things and a lot of people still cant see it clearly. We dont have to make budgeting like financial planner, at least we can divide our montly income into several purposes and stick to the plan, though

I think this is because some people cannot differentiate between their need and their wants.