Showing posts with label Money. Show all posts
Showing posts with label Money. Show all posts

Saturday, June 19, 2021

Effective Ways To Manage Money




There are many ways and tips on effective ways to manage money in general. Technically, all these tips talk about one thing: being able to have money when needed, where needed. A lack and wanting desire to acquire money when the all arises does not necessarily mean not being able to manage money effectively, but may just be an overshoot of unexpected events. Nevertheless, the person should be able to acquire and find ways to come up with the needed amount if ever there is a strapped budget from the unexpected event that needs to be complied.

Look At The Future Goals

One of the most important and progressive value of a person to have effective ways to manage money is to have a sense of foresight. This foresight pertains to the ability of a person to know what things is most probable going to happen to him in the future and be able to prepare beforehand with substantial amount of time. With this is a  responsibility of being able to properly organize the timeline and the budget allocation of funding and financial  allocation. Also in this regard, the consideration of all other fees, bills, and payment allocations would have to be
properly identified and included in the plan.

An option of having to put an allowance or extended goal would be beneficial to the planner to allow himself to adjust and be able to cope up with unexpected events with a bit more ease. In this manner, the one who manages the money is able to have an extra for a rainy season ahead.

Invest, Invest, Invest!

Another method to effectively manage money is to invest in progressive and productive endeavors which could be other sources of income. Instead of just allowing the savings to rest in a bank and earn a small amount of interest per year, it would be wise to allocate some of the money and other resources into a business. Of course it may prove  unproductive and detrimental, but the allowance of such resources to different paths of productivity would widen the scope in which a person could determine and discover the best way to manage and have more money to alleviate
the status in society.

Investing does not only mean having to go into a business venture but also in being able to become a stockholder, no matter how small into an existing business. Being a stockholder and becoming a part owner of a running business puts the self into a profit oriented state by having a percentage of the earnings that the said business generates. Nevertheless, the risk of losing the capital used for this investment is as great as having a self owned one.

The 3:3:4 Paradigm

This paradigm takes into account that all the other utilities and monthly bills have already been paid and the amount left is the extra money that is left floating. Most probably many would not be lucky enough to have this, or if possible  just with a tiny amount. Still, no matter how small the amount is, it is a good start. The 3:3:4 paradigm means that 30% of the floating money is to be saved in the bank, 30% is then used to allocate for the investments of choice, and the  remaining 40% is allocated to the leisure and luxury of the household. The last aspect is important to provide a sense of reward for the earner to clear the mind of burden and discouragement.

These aspects when combined together are more often than not effective ways to manage money and not be burdened of having to earn money to pay off a previous debt. This would be helpful to the earner to look forward in a progressive pace of living rather than retroactive maintenance.
 


Wednesday, January 15, 2014

Book: I Wish They Taught Money in High School

ISBN: 978-971-95851-1-4

This book is a 2-Part book written by Sharon W. Que and Clarissa Sariñes-De La Paz.


Book talks about personal financial matters. From starting or putting up your own business from little or no capital at all to handling difficulties of managing your own business.



Sharon W. Que author of I Wish They Taught Money in High School  So I Can Start My Own Business Right Away  talks about how to prepare and what to do in putting up business. I also learned that having your Business Name registered is such a tedious thing to do.

The risks you have to take in doing business. The ups and downs of starting little or no capital at all. One must go through all the struggles of having a high and low times, and that it doesn't make any difference whether you're rich or not.

Sharon also emphasized the idea of saving, better start teaching the young once the essence of savings and having some "piggy banks" will do nothing but good. So this really encouraged me to pursue on teaching my daughters the art of saving (even just a small amount each day).


Clarissa Sariñes-De La Paz author of I Wish They Taught Money in High School So I'm Not Dependent on My Paycheck talks about terms and methodology about MONEY. Putting your dreams into reality. That even it seems so impossible, if you're determined you can make it to reality. 

It inspire me to invest on assets, learning the way of having a passive income, earning while having your money used by other people. Dare to take the risk of having loans and investing it to something that earns you money. 

Learned so much from this book that it made me realized I've still got a lot of things to do to have the "financial freedom" I've been dreaming of. It can be achieved! 

I am giving this book a rating of 5/5.

I love the comic-type graphics of this book, illustrated by GooglyGoeys.com

If you want to buy this book, you may order online via their site and you may visit their Facebook Page.