People know very little or nothing about where their financial condition is taking them to the extent of recovering from huge debt. That is the reason I am writing this post to give very necessary advise to my readers which I am sure will help everybody to calm down their nerves. Investing strategies, proper planning, saving money is becoming really tough job for people, hence at this condition a proper financial advisor is very much in need and I guarantee that this post would be worth reading. Christopher Mizzi (a Certified Financial Manager) said “be greedy when everybody is panicking, and panic when everybody's greedy” so till the time i continue extending my help giving financial advises, “you can be at peace”.
So, here I present my words of “Wisdom” and “Comments” to all of you:
1) Identify the difference between your needs and wants – We often fail to understand the difference between them which always create confusion in deciding our own priorities. So take time and select the most required and necessary one and be a smart chooser.
2) Try to earn more if you need more – This is a fact which we all try to skip from, but trust me the earlier you believe it, the earlier it does good to you and before you realize, your bank has enough balance and you have a smart wallet.
3) Always save little no matter how much you earn – Saving money seems to be a hard job, without understanding that it is the most important part of finance and once you get the taste of it, you will definitely manage it somehow and start living on what is left over after saving.
4) Put your money to work – Saving money is not enough; saving it in place where it can provide proper interest as well security is what we should look for. Thus making our money work hard as we are doing to earn it.
5) Plan a good future after retirement– Always remember whatever we do today has an after effect on our future. So work hard and save hard for a relaxing and happy retirement life giving a good thought to your future.
6) Be prepared for that rainy day – we should all be prepared to face the most outrageous day of our life. Here I mean to say that we all should make our finance position strong enough to support and reimburse in our hard days.
7) Reduce being Frugal and Stingy – Be very selective in purchasing products to reduce the chances of waste as it also saves a huge amount of your pocket money. At the end of the day money is there to do good things, hence take the advantage of smooth consumption.
8) Avoid Borrowing – Borrowing gives a feeling of instant relief, the reason why we get attracted towards it but trust me it is like wetting your bed in middle of night which initially gives you a sure relief but then starts stinking and horrible cold feeling last of all do not allow you to sleep at all, so discomfort is something not wanted by anybody.
9) Be slow but steady – Saving is something that is necessary to do but don’t be in a haste to do it. Be slow in saving but be steady in doing it, do not skip days in between once you decide and start saving.
10) Always diversify your investment – It is always important to keep in mind that everything has potential downside and upside. So keeping this in mind diversifies your investment and don’t put all the eggs into one bucket.
Listed above are some of the financial advises which I am sure going to do wonders in your life and make a big differences. So what are you waiting for, hurry up and give it a try today.