proper money management
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Money management is the process of saving, budgeting, spending, investing, or otherwise management of the capital usage of a group or an individual. Managing our money takes time to understand and to improve on and to master, it takes dedication and a solid understanding of our financial situation. These are the first steps in effective money management.
Money management is the process of saving, budgeting, spending, investing, or otherwise management of the capital usage of a group or an individual. Managing our money takes time to understand and to improve on and to master, it takes dedication and a solid understanding of our financial situation. These are the first steps in effective money management.There are different ways for proper money management such as: creating a budget and sticking to it which helps us understands with clarity and full transparency our financial situation; keeping track of all your expenses so as to have all our expenses accounted for; creating an emergency funds and we must not touch or take money out of the fund and allow it to earn interest to use for rainy days; start saving for retirement early so as to live a peaceful life after retirement; reduce or slash unnecessary expenses; and we must understand our income and expenses and have a thorough understanding of the money coming in and the expenses going out.
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Hey mate !!!!!!! hope this helps you.
10 essential ways to manage your money are :
1) Create a budget
2) Understand your expenses
3) Understand your income
4) Consolidate your debt
5) Slash out all your unwanted expenses
6) Create an emergency fund
7) Save at least 10 to 15 percent for retirement
8) Review and understand your credit report
9) Use a tool for personal finance app
10) Follow money management resources
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