What is Money Management?

Whole world is running because everyone wants some more money in their pocket. Money is flowing fluid of the human living system and this is needs to run properly. Economic disturbances in one part of the world can drastically effect the economic condition of other part of the world.

If Saudi Arabia increase the price of crude oil, we all know that now inflation will automatically come with this. Government can also not handle this situation because of globalization issue. So what is important here? Saving the money in proper habit and systematic manner. As habits one made won’t cheat you otherwise there is always a cheater within everyone of us.

Here we will discuss 7 general suggestions for everyone for money management. Overall fight of life is money and if we become master of this habit, we are the new “BOSS”.

1. Save money and Investing it earlier. If we start investing the money at very early age, we can get the maximum benefits of it and everyone knows that if you invest your money in Fixed Deposits at the age of 20 and claim it in 60’s, you are millionaire.
   
2. Internet is not the right source of Financial decision supporter, because every now and then the thoughts are being influenced by big companies. They are paid money for promoting content and they doesn’t care about your money. They take money and claim false promises by making a proper acting which no one can catch.

3. Make money spend chart to monitor your expenditure. This will help you to make decision to remove unnecessary spending and also support to save money with right judgement.

4. Never buy expensive thing only for show off because this might present yourself like king but you know the reality behind it. How much loans, credit card and pending bills you have in your pocket. This make hole in the pocket and you know hole doesn’t make goals.
5. Friendship and Investment should be separated because if your friend joins an insurance company and refer you to take policy, this get additional burden on you. Also you can’t ignore them and you also know they will change their job every now and then. So avoid taking unnecessary policies due to some relationship or friendship bonds.
6. Monitor your income properly. If your income in last financial year is 4 lac per annum then it must increase with atleast 10% next year. Here I provide 2 suggestion for you; a). Become expert of your field so you get promotion and increase your salary automatically, b). Start a side business.
7. Don’t postpone your enjoyment time just for making big money. This time will not come again. Every month spend minimum 10% money on your enjoyment as this is the best way to freshen your mind and make good memories.

So go on, enjoy yourself or with your friends, family or team. Buy something which you like for them. We recommend KDB Deals App because it has both facilities, good product and easy return policy. Also the tag line of KDB Deals says this more clearer, “Purchasing Happiness“.