12/21/2023 0 Comments Personal finances advice![]() □□ 5C Reverend Ogunbiyi Street, Ikeja GRA, Lagos Nigeria. Watch this video on personal finance for entrepreneurs: Having well-rounded personal finance is not a one-time thing because you continuously improve and learn from your mistakes. Financial protection is key.įinancial discipline is important but takes consistency. Write down your financial goals, and then work out how to get there.If it sounds too good to be true, it probably is.Always look for the best interest rates, whether on savings or to pay a debt.Before paying bills, set aside money for emergencies.Know your income before you commit to any serious spending.□įind out more about investment plans that are available for you. You just need to do your research on the kind of investment plans that work best for you just like you are doing by reading this article. Anyone can invest, so no money is too little. And contrary to what you may think, investing is not for the rich alone. Over the years, there has been a rise in different investment options from mutual funds, bonds, stocks etc. Try waiting a day and see if you still need it. You don’t have to buy something immediately. However, it becomes an issue when it is too frequent. Impulse buying is a normal part of society. So start by writing down everything you owe and stick to the precise payment dates, bit by bit until they’re cleared. The longer you hold on to debts, the harder it is to pay them off. Getting rid of debts helps you have a clearer picture of where you want to be in your financial life. If you find yourself going off track, adjust your spending to stay on budget and ensure to review your budget regularly. Calculate your net income, make a plan, and track your spending. Knowing how to manage bills starts with creating a plan for your wants and needs. “A budget is telling your money where to go, instead of wondering where it went.” John Maxwell But be sure your savings are somewhere not easily accessible so you can build the discipline to not touch them.Ī good practice is to have automated savings, so that a portion of your money is saved first, as you receive your income, and you are left to figure out what to do with the rest. Working with a savings plan is an excellent start. Protection: Protection from financial risk through insurance.īest Tips for Personal Finance 1.Investing: To grow your money so that you can be financially free.Savings: The money you keep aside to cover any sudden financial need or achieve future goals. ![]()
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