Essential Tips these Hard Time Days!
It may interest the numerous visitors to the site that a little digression is being made on the usual focus on financial scammers in whatever guise they may appear, the issue is quite far from that; it is only just put in the cooler for now in order to address an issue of a life more abundant – How your money can work for you.
There is no gainsaying the fact that any one truly buoyed with financial success today or regarded as a success in true sense of the word only let the money work for him or her. This is by focusing on savings and investment. So a person who wishes to invest and profit from any type of business must ensure he maintains an unequalled integrity in dealing with people within and without his or her environment.
This is by starting at least saving 10 per cent of your monthly income or regular earnings which you should learn to invest in treasury bills and government bonds which are more secure investments that company shares; bond market being a good safeguard against inflation according to experts who further advise that an individual can look for credit facilities that will eventually make him or her financially stable.
They also stressed on the on financial discipline that will enable one to pool together funds for investment this is because if you put your money in banks or on stocks, the tendency is there for you to lose it and you better invest in properties, government bonds or agriculture that yields a high interest in the long run.
Normally, the difference between the haves and haves-not is only an ability to take a dream and make it real. One should also put in mind that the purpose of money is to work for you so determine your financial goals in terms of earning, savings and investment then focus on what steps you must take to achieve the goals.
One must also learn to live within one’s means and avoid debts and instant gratification like a plague because the two cankerworms may be a stumbling block on your way to reach your financial goals or slow you down completely.
It is also necessary to maintain a personal budget because it is your key to a secure financial future. The important factor influencing this is to add up your net income, add together your expenses while ensuring that they are separated into specific categories viz: housing, accommodation, insurance, debt, car etc… More to follow.