Be on Top of Your Finances
There are huge pieces of information that talks about how to properly spend or take care of your hard earned money. This article is written to provide us with tips and tricks on how to handle our finances wisely. Handling our finances the right way will give us financial freedom. I believe in the saying that goes: "money is not the most important thing in the world, but it AFFECTS the most important things in this world."
What I am about to teach you right now are some of the proper ways on how to handle your money. If you are stuck on bad debt, then maybe it's time to focus on your impending freedom from it. Start off by writing an honest list on all your debts so you could make a timeline of your freedom day. In the same list create your gross monthly income, subtracting from it your monthly expenses to be able to have a clear view of your NET income per month. Declare how many months or years there will be left for your freedom from debt day.
Continuously look at the list that you've made focusing on your impending freedom day, this way all your energies will be diverted on paying off all your debts. A sense of delight will surely overwhelm you when you see that your debt list is slowly shrinking. Focus on having an emergency fund (or 6 months worth of expenses) at the bank for emergency situations like sickness in the family, etc. This will be the area where you will get your money so you don't have to dip in your savings.
Assets are described as properties that put cash in your pockets. If you do not have enough money to buy an asset then it is advisable to have a loan- which will then be described as a good debt because it puts money in your pocket.
Try to create passive incomes so you don't have to worry about having money even if you don't work. Passive income will let you have a steady flow of income each month. Try to create as many passive incomes as you can and you'll surely be on your way to financial freedom. Also, try to build businesses that will provide more jobs for other people. In this way you can be able to feed more families because of the jobs that you provide. - 2368
What I am about to teach you right now are some of the proper ways on how to handle your money. If you are stuck on bad debt, then maybe it's time to focus on your impending freedom from it. Start off by writing an honest list on all your debts so you could make a timeline of your freedom day. In the same list create your gross monthly income, subtracting from it your monthly expenses to be able to have a clear view of your NET income per month. Declare how many months or years there will be left for your freedom from debt day.
Continuously look at the list that you've made focusing on your impending freedom day, this way all your energies will be diverted on paying off all your debts. A sense of delight will surely overwhelm you when you see that your debt list is slowly shrinking. Focus on having an emergency fund (or 6 months worth of expenses) at the bank for emergency situations like sickness in the family, etc. This will be the area where you will get your money so you don't have to dip in your savings.
Assets are described as properties that put cash in your pockets. If you do not have enough money to buy an asset then it is advisable to have a loan- which will then be described as a good debt because it puts money in your pocket.
Try to create passive incomes so you don't have to worry about having money even if you don't work. Passive income will let you have a steady flow of income each month. Try to create as many passive incomes as you can and you'll surely be on your way to financial freedom. Also, try to build businesses that will provide more jobs for other people. In this way you can be able to feed more families because of the jobs that you provide. - 2368
About the Author:
Mara Hernandez-Capili is a writer and a researcher on events in Travel and Leisure. Visiting events such as the California craft fairs will open ones spirit on the beauty of the world beyond home's borders. If youre staying in California, the author suggests checking out the California craft shows for entertainments to make your stay worthwhile.
posted by Frank Potter at 12:55 AM
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