How To Manage Your Money Wisely?

In today’s world you can never have enough money. As your income grows, your needs do too. Thus you always have to work hard and earn more. But if you live in a city like Perugia just earning more is not enough to give your kids a luxurious life and a great education. For that you will also have to manage what you earn. You might think that you are still spending very carefully. But if that is not helping you then you need to put more time and effort into it. Your income must be divided in three main parts. The first part is for spending on the essentials like the rent for apartment, household stuff, tuition fees, etc. The other two parts are savings and investment. We will talk about all three here.

Body: Some useful tips

Expenses take the biggest portion of your income. It is ideally around 60% of what you earn. Investments should contribute about 20% as per the experts. And savings should take the rest. Of course you cannot stay exactly by these numbers each month. But over a longer period you can at least try to have a nice average. Here are some tips that will help you manage these things.

Expenses: Like most of the people you must have a long list prepared even before your salary arrives. And when it does a large part of the money just vanishes. This clearly means that your expenses are too high. Some of the things might be unnecessary. You will have cut those things out if you want your finances to stable. Now this would not happen overnight. You first have to keep a record of all you expenses for a couple of months. Then you need to analyze the records and see where there is a chance of improvement.

Investments: Today there are so many options to invest your money. You can buy shares, invest in real estate or get insurance. All the options are good. In shares you can start as small as you want and get huge returns. But you will have to spend a lot of time on it. If you plan to buy a property, you will need a very big capital but you can recover all that from rent. Also the prices always go up and you will not have to spend any time on it. There are also a lot of good insurance plans available these days. You will not only get coverage in case of an injury or disease, but you will also get all your investment back at the end. Go to impresaitalia.info/ncat/1/umbria/perugia.aspx for more info.

Savings: It is good to invest your money but you should also keep some cash in your hands. It will always be helpful in case of an emergency. You cannot always get a loan or sell your shares so quickly. But you can easily withdraw your money from any bank in Perugia.

Mark oroyo is a businessman with more than 8 years of experience. Mark is very much interested in telling others about the benefits of manage money through which his business benefitted immensely.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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