What does it mean - to manage your personal finances? Why is it important, and what you need to strive for? What are the main principles and approaches?
In the previous post I described the difference between financial success and financial freedom. Financial success is usually associated with higher wages and greater material goods at our disposal (and the need to constantly work to earn and even more). Financial freedom requires that your income and expenses are organized so that you do not have to work, and well-formed incomes allow you to live in dignity and not to worry about loans, foreign exchange rates, loss of employment, etc.
I am convinced that we need to strive not to financial success and financial freedom. It allows you to financial freedom really live a full, relaxed and harmonious life. So all people have to live!
The quest for financial freedom (goal - to reach the state of financial freedom), determines the need for skillful handling of expenses and income, making the right decisions on major acquisitions (apartments, cars and other expensive facilities), the ability to maintain and increase money.
Without planning and management to cope with such a task is not possible. On the way to financial freedom must be able to analyze your income and expenses, to be able to take informed decisions regarding the purchase / sale of property, savings and the accumulation of money, etc.
In the previous post I described the difference between financial success and financial freedom. Financial success is usually associated with higher wages and greater material goods at our disposal (and the need to constantly work to earn and even more). Financial freedom requires that your income and expenses are organized so that you do not have to work, and well-formed incomes allow you to live in dignity and not to worry about loans, foreign exchange rates, loss of employment, etc.
I am convinced that we need to strive not to financial success and financial freedom. It allows you to financial freedom really live a full, relaxed and harmonious life. So all people have to live!
The quest for financial freedom (goal - to reach the state of financial freedom), determines the need for skillful handling of expenses and income, making the right decisions on major acquisitions (apartments, cars and other expensive facilities), the ability to maintain and increase money.
Without planning and management to cope with such a task is not possible. On the way to financial freedom must be able to analyze your income and expenses, to be able to take informed decisions regarding the purchase / sale of property, savings and the accumulation of money, etc.
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| Why Is It Important To Manage Your Personal Finances |
What you need to manage your personal finances? Difficult it?
Difficult it? Not if you understand the basic principles. Do I need to do any special tools? You can do a simple calculation to Excel, almost without using any complicated functions of the program.
In the planning of personal finances (or family finances) you define the main objectives for savings, income and expenses (for the long term - a year or several years, and for the week / month), acquisitions and additional sources of revenue.
The main parameters, is very simple to perform and adhere to the slightest discipline in handling money. It is also much easier to make competent decisions regarding the purchase / sale of property, attracting / closing credits.
I personally have over 15 years of practice, planning and personal finance. Having tried various techniques and programs has gone trial and error. Now I've done simply and clearly. Planning takes a little time, and cost accounting - even less.
Financial freedom is worth the small effort of learning how to do the planning personal finances and accounting of expenditures and revenues. A financial freedom is worth more than financial success.
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