What can you possibly do with your salary, or any money earned? Do you wonder.
What are taxes and how do you manage to do it? Do you also wonder, how bad is your debt levels?
Or, do you wonder. How should you invest so as to gain maximum benefits? So many questions right. So little answers right.
While it is completely all right to ask these questions, let us try and analyze some answers. Why didn’t they teach us how to do taxes in school instead of algebra and factorials?
Did you know that most Indians are debt ridden despite the so many schemes made by the government. Cannot say it is all their fault. Honestly speaking.
Managing money is a complicated subject. Not even the best of management graduates are able to factually do it. Innumerable books have been written about it.
Including our NCERT Economics books.
Let me tell you something. Getting rid of debt and saving money in the same pattern, simultaneously is a boon. Trust me. Let me teach you.
While this article is mostly targeted at us millennials, it is just interesting for about anyone. See, the basic rules I will discuss here are quite universal. However, details might change depending upon the individual concerned.
Starting off. What is the first tip?
Ok, I cannot leave without giving you a little something. Well, here it is.
Each bit of your financial knowledge, every blog post, every advice, every tweet, falls into one category. If you are able to master these categories, well, you have mastered money.
The aforementioned categories are:-
1) How To Save money
2) How To Invest money
3) How To Make money
It is not as easy as it seems or you may perceive it to be. Once you actually begin thinking about each category you will notice that simple advice is quite useful.
You will be able to see what happens when you begin to look at each thing separately with a different perspective.
Let us start with this question. Have you imagined as to what are the methods in which one could save money in a particular week? It could be your daily expenses.
You could think of a way by which you could make money in a certain week, such as work overtime or sell something online or on OLX.
Have you ever wondered as to how you could be able to invest some money this week and multiply it instead of wasting it on clubbing? Maybe you could buy flour sugar and eggs and bake cakes and sell them to your neighbours.
The lesser the risk, the better, so please for God’s sake do not waste it on useless things which you will regret later on such as buying an expensive lottery ticket.
Once you have attempted to pursue any of these you are practically sure to have a little more money by the end of this week. You do not have to focus on the amount you make from this practice, but make sure it is uniform.
After all, drops make the ocean.
We are excited to anticipate the effect such words would be to your financial planning.
Well, rounding off, all I would say is that really, neck-rein your money.