MANAGING YOUR FINANCES .

Income management is a major problem not only peculiar to the young but also affecting the old.
Good income management helps you create monetary stability and sufficiency. However the following could help you manage your finance better.
- Establish a budget: A detailed budget that keeps track of all your income and expenses will help shed some light on your personal finances. Preparing a budget and sticking to it is an important part of meeting your financial goals. you need to know where your money goes each time. Align your values to meet your financial targets. Estimate your fixed , flexible and occasional expenses. Then compare your income to your expenses and make adjustment to achieve balanced budget. At the end , your total expenses should not exceed your total income or at best it should balance out . Here an understanding of savings and investment is required.

- Save : another way to keep your money is to build p your savings. small amount set aside , grow over time with substantial pay off. It takes a little discipline to save depending on your earnings , you may decide to set aside amount ranging from a thousand and above. create a precautionary fund .you are advice to plan for the unexpected for peace of mind . Generally a minimum worth of living expenses to cover unforseen circumstances .

- Plan : for major events and acquisitions requires good financial panning and savings strategies. Try to save towards school fees , car purchase , vacation ,house / office rent , landed property and others.

- Dont blow that bonus : when a windfall comes your way you should seize the opportunity to save. Bonuses should be planned towards savings , investment or reducing existing debt.

Finally , giving is the best way of managing your finance because givers never lack.

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