By in Business

Category Challenge: Business

I don't know much about business but I know a little bit about budgeting and financial planning (okay my hubby does) but as we discuss most stuff with each other, I will share some ideas here. These are more his tips than mine but I am sure he will let me keep all the PP coins I earn from this post :D

When it comes to , make sure you are in control of your and not the other way around. Your money should be source of peace and stability and not worry and .

Don't start spending your money until you have separated all and a portion of savings.

Your savings should have an where you keep 4-6 months worth of necessary expenses (rent, medical, school fees, utility bills etc.) in it. Keep reviewing your emergency fund and keep adding to it to adjust increments.

Try to discover investment avenues. While investing, you must know about low, medium and high risk investments.

My hubby also recommends three books 1) "The Richest Man in Babylon by George S. Clason" , 2) The Automatic Millionaire by David Bach 3) One up on Wall Street by Peter Lynch to anyone who is interested in learning more about improving personal finance, money planning and investment.

My own tip: Before buying anything, just ask yourself, do I really need this thing? I think adopting simplicity and not running after brand names and trying to keep up pretenses also helps in keeping finances under control. And so does keeping away from betting, gambling and most forms of addictions.

Of course, when times are hard and we are struggling, then tips and ideas don't seem to work that well. How do you save money?


Image Credit » http://pixabay.com/en/euro-money-pay-cash-borrowing-427528/

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Comments

bestwriter wrote on October 31, 2014, 5:01 AM

You need to change the category as it shows 'Animals'
I particularly like the last part of your advice and that is buy only if you need an item.

Dawnwriter wrote on October 31, 2014, 8:20 AM

Thanks . I have changed the category. Now I won't have to tackle business category again, thanks to you. Once is enough:)

tinamarie wrote on October 31, 2014, 9:50 AM

I always ask myself - "Do I need it, if I don't have it will it change my life", and then I go from there. If it's something I really want then I start a fund for it and will save.

maxeen wrote on October 31, 2014, 1:25 PM

I find it is easy to save money,I just have lots of walks with the dogs and the then do gardening,like weeds and leaves-takes forever , That way I stay away from the shops,but ebay is another matter..

Isabella wrote on October 31, 2014, 2:41 PM

Finances should be a topic that is taught in schools, i think our teenagers need a touch of reality, they think money grows on trees...i wish!

AliCanary wrote on November 1, 2014, 2:40 PM

My husband trusts me to manage the finances. My mom did that in our family, as well. I take my responsibility pretty seriously, and we are invested in stocks, bonds, mutual funds and real estate. Hope it's enough!

Kasman wrote on November 3, 2014, 1:25 PM

I know very little about business but my wife used to be an accountant. She is quite savvy with money and, in fact, takes charge of all our household finances. All I do is earn the money - she looks after it!

Dawnwriter wrote on November 4, 2014, 12:16 PM

Or just fall out of ATM machines :)

Dawnwriter wrote on November 4, 2014, 12:17 PM

That's a perfect partnership:-)

scheng1 wrote on December 23, 2014, 7:59 AM

I think you can talk about the supermarket in your place. It is more interesting to find fruits and vegetables on sale in a foreign supermarkets for the rest of us.