Template For Personal Financial Planning and Software.
Hello friends,
The new financial year is about to begin, let's share with you some personal financial techniquesThe new financial year will start from this April, so you should start financial planning in advance and not at the end of the year.If you do personal financial management from the beginning, everything remains organized.And the tax related issues also remain in the roll.
1. No Liability
You should try your best that you do not take any loan, if you have any home loan going on, then you should try to get rid of it as soon as possible.I would even say that if you have an ancestral house and you are living somewhere else because of job. You Should stay there an I suggest you do not try to buy the house because for that you will have to take a big loan and it will be difficult to repay it. It will take you a long time
Hence You will spend a very important time of your life in repaying this huge loan amount and many liabilities will increase towards that house, even though the house is nothing more than a liability for you.Do you believe that we build houses for children like your first generation has done and you will also build a new house, later the children will grow up, they will also have this thinking and their efforts will also be that they will build a new house, make a liability So it's a round and round circle, it's up to you to break
2. How to Use a Credit Card.
Friends, you must be thinking, how can I am talking this, because the interest rates of credit cards are very high, if you only raise your salary then maybe this thing can happen more.But if you are a businessman or doing some small business with your job then you can be useful because credit card company gives you 35 to 40 days interest free money.Meaning, you get some such money, you do not have to pay any interest, then you can take that money if it is going to come back to you, then * with the same money you can generate very good profit or passive income after the period of time.
For this you have to play smart game, for this you will incur annual maintenance cost, it will be negligible.
3.Investment Decision.
Friends, the rate of inflation is increasing year after year, for this you have to save for financial security and you should also do it, to counter these play, take the right decision of these investments in the right way.
3. Don't Purchase Car
Friends, for whom do we buy a car and think about how much you need, many people take less for themselves and bigger cars to show others
If you need a car for transportation, you can rent it
Because that car will not become a burden on you and you will be able to avoid extra loan, you will always have cash in hand. The car is a liability as it gets old you will have to spend more on it and secondly its value whatever the time. will fall along
And the new model will keep coming in the market, your eyes will remain on that new model, then avoid all these chains and take the car on rent and not invest money together.
Well it's not an investment
I would suggest you invest in sets instead of liabilities I would suggest you go for only asset management other than traditional asset investing
such as,
- A. Share
- B. Government Bonds
- C. Bank Bonds
- D. Pix Deposits
- E. SIP
There is also something else like com audit you can also buy on paper and if you want you can also invest money in government recognized and authentic bitcoins
You Also Read..
5 Handy Apps For Small Business Finance Management.
Tags:
Tips for personal financial management | Template for personal financial planning | personal financial management strategies| ask asset & wealth management,