If you are someone who looking for financial tips make smart then you have to read this article full and understand terms. simple money management ideas we going to share with you. By following this tips you come closer to your financial independency. Lets get start
First of all you have to figure out how much you earn and Then you have to make a list of your expenses. Just figure out then which expenses is need for you and which is not necessary right now. If expenses not necessary then try to avoid it. Then you should focus on your savings or debts . Thats y you have to make budget in starting of month is very good way to save and stop unnecessary expenses.
Pay yourself first is a phrase which try to explain that before spending you should save first. A lot of times people do spending all money and at the end of month they check how much we save so just put it on savings and at that time nothing much left, so its best thing before you pay make your priority to save some amount and then spend
3.Always have an emergency fund An emergency fund is a fund which we save for our some crisis movt. or some emergency. As we all know we cant plan everything in our life. If we plan everything then there is no problem arise in our life. but it doesnt happen in our day to day life happiness or problems is a part of our life. So if we are salaried person or business person we have to make savings for emergency case which we don't use in general . we use this cash only in case of emergency.
4.Get organized with your money
As ussual we all have some debts due, credit card , bills expenses, subscriptions etc . with our finances . To avoid getting hotchpotch with all finances you need to organised your money.
You have thoughts in mind What does means money organised? Let me explain
organised money means what is your current financial state and what your monthly expenditure look like.
for eg.
how much you earn income
less
How much your expenses all includes bills/subscription etc .
5.Be in complete details of your finances
Last but not least one of the most important part of finances is you need to be in control of your finances not someone else or some family member. because it is important to know every single details about your money to finance it. Everything like what’s coming in what’s going out. Reason behind every expenses then only you cut off excess expenses and make some savings .