How to manage your personal finances efficiently


With the spinning of national debt out of control, the inflation rate that achieved the higher the notes and unemployed previously manifests itself as a result of current conditions, the financial world seems to be in a world that is often attacked by chaos every time taking a turn for the worst. And if you make your eyes pay attention to the recent events, it seems like they will be much worse before getting better. But the current trend for those who are not so severely influenced by financial chaos recently seems to continue almost the same – maybe you pay a little more interest in your credit card, but you can adjust it.

Taking over

The reality of the problem is that this is the ideal opportunity to control your own finances. And do this can be a life experience that changes many people who previously went through their daily life without care for the future. Think about your own future, the things you want and things you might want in a day like family or children. The key to this problem, and a lesson learned by so many people in a relatively short time recently, is that turning towards debt as a solution to the above is a quick way to invite the potential for disasters in your life. Now if you agree with the above, the following might be interesting.

Personal Financial Management

Personal financial management is very similar to business financial management: Save where you can and spend where you have to. For anyone who has just started with personal financial management, it is recommended to compile a list of your money every month. This can be done by taking annual salaries and dividing it with 12 to represent the monthly amount. Of that, minus federal taxes and states and payment of medical funds and other mandatory quantities. Next make a list of things that need to be paid such as rent, power, telephone, cellphone, cable, etc. How much is left at the end? What did you do with that money?

Many people dream of being a millionaire but never did it. The reason behind this is not because it’s difficult, but because they never force themselves to have some small size discipline. Save money where you can and then apply the savings for investment that has a greater return is something that is quite easy to do with a certain amount of time and will have a great effect on your finances. But what’s important is that you always have a clear concept of what your current financial situation is and where the finance goes.

The moral of this story is that having a lot of money can be easy for those who are willing to face the fact that they might spend too much and willing to do something about it. Personal financial management teaches us that it is not about changing or limiting your lifestyle, but adjust your perception by distinguishing between the things you need and the things you don’t do.

Zayd Dana
the authorZayd Dana