Managing your money
Whether you earn a little or a lot, it’s always wise to budget and plan your finances smartly. Common mistakes that most people would make when it comes to money is getting too deep in debt, paying bills late, and not knowing how to save for the future. You can avoid making these mistakes by always keeping track of where your money goes and knowing what you can spend on. Here are some steps that you can use for managing your money wisely: Step 1: Set your financial goal Financial goals reflect things you want to do with your money within a certain period of time. Setting these goals will help you understand the value of money and encourage prudent spending. Be sure to know how long you should plan for each goal. Are they short, medium or long term goals? Which one of the following are your financial goals? buying a house buying a car starting a family child's education plan traveling medical and health insurance saving for retirement Setting a series of personal goals will he...