This is quite popular topic now a days. We have to focus on reducing the Expenses. Now most of the giant companies focusing on
Cost cutting method. Most companies can not increase the Sales or promote different entities. There is Big Competition out there.
So as We also have to establish a cost cutting method to personal life. Get a one month and analyze whole expenses.
Then we can grab what are necessary and what are not necessary ones. Cut them immediately.
Make a Monthly budget to Reduce the expenses. Monthly budget is a good thing. You can prepare for the entire month.
Do not use any credit card. Credit card is the Worst thing you gonna make. Most of the people are now fed up with Credit card debts. Use fiat currency instead of using credit cards. Eliminate the Debit cards too.
Wednesday, August 7, 2019
Saturday, August 3, 2019
What things should consider on personal finance
What things should consider on personal finance
Yes this is a broad topic you should have consider. There are five topics .
1 Do not invest your all funds to one Investment
In this i am emphasizing that if you have 100,000 us Dollars. Do not pull all the money in to stocks. If the n prices of the stocks went down , you will loose the entire funds. Divide at least 2.
1. Fixed deposits
2. Stocks
Fixed deposits give you very little Return of investment compare to stocks. But its a stable investment.
2.Do not spend money on unwated things.
If you spend money on Unwanted things , After some time you just have to sell your wanted things. i think you get the whole idea.
3.Do not depend on single income source
This is the main thing that , If your business gone down , you ended up with nothing. You have to diversified the portfolio. You can get
Salary income
Stock Income
Fixed deposit income
Freelance Income
Now i have Salary income , Fixed deposit income, Freelance income. so i am not worried about if any income source get upset.
4.Take risk. When you have time take risk. If you take risk thats a good opportunity. In human life everybody need to take risk.
Yes this is a broad topic you should have consider. There are five topics .
1 Do not invest your all funds to one Investment
In this i am emphasizing that if you have 100,000 us Dollars. Do not pull all the money in to stocks. If the n prices of the stocks went down , you will loose the entire funds. Divide at least 2.
1. Fixed deposits
2. Stocks
Fixed deposits give you very little Return of investment compare to stocks. But its a stable investment.
2.Do not spend money on unwated things.
If you spend money on Unwanted things , After some time you just have to sell your wanted things. i think you get the whole idea.
3.Do not depend on single income source
This is the main thing that , If your business gone down , you ended up with nothing. You have to diversified the portfolio. You can get
Salary income
Stock Income
Fixed deposit income
Freelance Income
Now i have Salary income , Fixed deposit income, Freelance income. so i am not worried about if any income source get upset.
4.Take risk. When you have time take risk. If you take risk thats a good opportunity. In human life everybody need to take risk.
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