10 prime things about personal finance that someone without a finance background must know?
1. Discipline and Consistent:
Many of people do not worry about their finances and they stacked into financial problems at the end. Getting a job makes you more discipline & consistent in about your finance problems. By job you can’t get rich but this job teach you how to get rid of from your financial problems in future.
2. Never disburse your expenses:
When man got new job he waste his money spontaneously. If want to beware of financial problem in future you have to save your 40%-50% of your salary. If you are unable to save money then go to financial consultant he gives you advice that how to save money smartly.
3. Financial indoctrination:
To save money you can also take a help of books, consultant and your elders. Financial education is most important for us in these days. It gives a knowledge that how to save or invest your money for future.
4. Speculation of money:
You can easily save your money by investing in FD in banks, bond, government scheme, mutual funds, share market, property & many of field which give you great money back in future. These fields not only save your money but also increase your invested money.
5. Never commit that you are absolutely right:
Even if you are absolutely positive something is going to happen, you could be wrong. This has nothing to do with pride or reputation, because when the market smacks you done, there is nothing you can do. Always have an escape hatch and never commit everything you have to one investment.
6. Foresight in investment:
In market almost investment policies are comes under the risk. So never invest your all money in only specific area. You have to invest your money at least more than two fields this make your money save by any market risk. You need to be a foresight in the field of investment. Always keep an eye on market volatility and at the right time, withdraw your money from the market.
7. Understand indecision in finance sector:
Sometimes financial world is not everyone’s cup of tea. It is too complicated to understand the ups and downs of market then you have to take a advice from someone how is intellectual in finance field. For this many of financial advisers are available to help you.
8. Don’t underrate your adequecy:
Sometime people do not want to be a part of financial protocols. If you pay little attention on your paper you are able to find problem and solve them easily. Do not underestimate your qualification because this is not tough for an educated people.
9. Grasp from technology changes:
Now a day technology is not stated part of human life. Today is something else and tomorrow will be totally different expect. Yes, everyday we get new innovation and invention in the field of technology so that all the things belonging are moving forward every moment. If we don’t run with technology technology will through us to far away from the current scenario. In the finance and marketing sector different apps, online portals are launching everyday so that we should be updated with the changes.
10. Billionaire’s advice:Always follow billionaire’s advises because they see the market more than you they know which financial decision is necessary or suitable for investing money. They advise you a great path with low market risk.
Always remember one thing you should be happy all the time with all the things you are doing or achieving. But never loss your set of mind to achieve more. Be smart and properly balance your outstanding to get success without any intimidation.