what are the ways by which we can meet our highier financial needs and how can we incur them
Answers
Answer:
The time for secured jobs is almost over. In today's times, no job is fully secured, unless it is a government one. However, there are certain expenses that everyone has to incur to survive in this world as well as to maintain one's social status.
Explanation:
Rules of thumb may come in handy for those who are just beginning their financial planning. Youngsters who have just started their career may get some direction on where and how to make a beginning. For those who are in the middle of their career and don't yet have a proper plan in place, thumb rules can also be helpful. But remember, they only provide a general direction and may not necessarily give you the exact picture.
First rule first
The very first rule of personal finance says: 'Pay yourself first'. It simply means that out of your monthly income, a certain percentage has to be saved before it is spent. 'Income minus savings equal to expenses' should be the rule and not vice-versa.