Tips on Managing Personal Finances, What Are They?

Often we are confused with the state of finances, sometimes what we get from a monthly salary quickly depleted like drinking mineral water in a bottle. But if we are able to manage personal finances, the salary that we can not run out quickly and safely, then what tips let our finances safe and under control? The following tips ...

1. Prinsip 70:20:10

What is that? Codes? Eitts not .. it's tips for managing finances. Tips to manage this finance I can from my lecturer at semester six, he said if we pay not to spend everything for consumption but divide our paycheck to some parts, 70% of the salary we used for our purposes daily, 20% for savings and 10% for investment.

2. Purchase Items As per the Needs

Think carefully about the items we want to buy, considering the purchase is necessary so that we do not regret in the future. Some things that must be considered in the purchase of the usefulness of the goods, used or not long and whether the goods have been purchased not wasted or just like a collection only. As an example we are buying new gadgets, one has to think whether it is necessary to replace old gadgets with new gadgets, if the reason is not strong it is better to stick with using old gadgets as long as the old gadget is still alright.

3. Avoid Or Reduce Smoking

Like smoking? Do not smoke too much, Reduce smoking so that not too much money is spent, in addition to reducing expenses but also to maintain our kesahatan. If only the money that is commonly bought to buy cigarettes is combined, over time the money we can use to buy the goods we need.

4. Understanding the Meaning of Money

Is it often when saving but it turns out the end of money savings even ending too? Apparently there is a reason. According to the book I've read it happened because we misunderstand the meaning of money itself, we often save with the money left over from payday, whereas money is created for the means of payment and to spend. But that does not mean being spent uselessly, but in spending on something as right as using money for our needs, investing and producing activities only.

Even if we want to save, before receiving a payday it would be nice we make a personal finance budget so that our finances can be regular and controlled use, finance for consumption is used for consumption and finance for saving used to save.

5. Begin Learning to Invest

Investing is important, especially for financial planning in the old days later. Investing can be through anything, can be through property, business business to buy land. But in investing must be careful, do not be too tempted by the profit for a moment so that we are not exposed to investment crimes that make us regret in the future.

6. Avoid Credit

Do not be seduced by the style of luxury life let alone we until the bela-belain to buy an item on credit. In any credit should be avoided if it is not urgent. If you want to buy goods, you should buy a cash let me not overpriced, usually credit goods price can be up to two times the normal price. It's still a long time, but it can make our personal finance is not too panicked in its use, do not let our monthly paychecks run out to pay the debt yes hehe

7. Planning Financial Well

To make an ideal personal finance certainly needs to be carefully planned, determine our monthly financial expenses, then in planning and in a neat and we are committed to financial planning that we make, because if we are not committed to financial planning itself finally live plan and practice may be a big zero.

That's the tips to manage personal finances, may be useful. any criticism and additions? please convey in the comments field.