5 Steps to Personal Finance Management
08/20/10
Personal Finance Management is a subject that is not taught in many schools but it is something that we will face in our lives later. A bad management of finance will provide nothing but financial trouble. Here are some ways you can manage your money.
1.Start saving today. Make it a habit to save a portion of your paycheck on a monthly basis. Some banks have the facility of taking a portion of your money into a savings account automatically.
2When you can borrow/rent, don’t buy. Some books can be borrowed at the library without buying and some videos can be rented. You don’t have to buy them and let them take up space in your house.
3Go for high down payment and low monthly installments. It will help you in the long-run and you can sleep better at night. Don’t always call and tell to say Check my Credit . It does put a dent on the credit rating.
4 A good insurance coverage. You will never know when you will need a large sum of money during an emergency. So having good insurance coverage can really help tide you over through a crisis.
5.Owning a credit card is very important to establish credit. Even if you don’t ever use it, it’s important to have one. If you don’t trust yourself, just lock it in a drawer. Just don’t overuse it you don’t want to have a credit cards poor credit
