Great Financial Advice

Posted on 6:24 PM No Comments

I had gone through an article of Liz Pulliam Weston in MSN about how you can be healthy in finance. This is a great article written by her.

Let me share some good points with my visitors.

1) First and foremost important matter to be healthy in finance is to have the habit of saving, it’s not a matter how little and how much you save but the ultimate thing is to make a habit of it. You never be rich if you can’t save.

2) You must know the difference between “need” and “want”. More of less we all know the difference, still let me explain it with an easy example, food is our need and a latest mobile is our want. Because without food we can’t live but without mobile we can easily live.

3) “Live within your means” – this is very important. It can be easily described as; if your expense exceeds your income then you will be in a downfall. So be careful about your expenses.

4) For the first 10 years of your earning, save as much as you can. This is important because after that there is a maximum probability of having an increase in your expenses column.

5) Always you should make a budget for the new financial year. Without making a proper budget it will be tough for you to have a successful financial career.

6) Be careful when you are going for a loan. Think about the repayment plan of the loan that you are going to take.

7) If you are already in debt think how you can get relief from it. And if the things are beyond your control don’t hesitate to consult with a professional. He may advice you for debt consolidation plan or debt settlement plan according to your financial condition demands.

Last of all; try to make more and more money and wealth. This is the ultimate solution of all your financial problems. Don’t waste your time when you are able to work. Devote as much time as possible for earning.