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Personal Financial Success – Five Quick Tips

Sometimes earning is not enough for a financial perfect life, but you need to observe some facts which may help you attain success in managing your finance. And it’s not hard if you make a habit of following some common tips to strengthen your financial background.

Some people can earn more but if fail at managing it, then they end up wasting their earning. To avoid it from happening, you may like to ponder a bit on the below tips:

Spend less than what you earn

This is nothing new, right? But keep a note of how much you earn and accordingly spend. Don’t go over-budget ever. If possible, you may stretch the time of buying new things, but don’t go for quick loans or payday loans making sure you don’t end up paying more than you earn. I am not against taking loan. Of course, you should take loans for appropriate purposes such as home loans, education loan etc. but idea is to take them only when they are needed badly. In simple words, if you have 2 bucks in your pocket go for a coffee and not ice-cream by borrowing from friends.

Pay bills right in time

Young people often have a problem of missing the due dates of paying bills. This causes them to pay penalty, which infact is not necessary at all if they pay bills right in time. Bills like telephone bill, Internet bill, electricity bill etc. do give a period in which you can pay back. So keep those bills right on your desk so that you don’t forget to pay them in time.

20% Saving

No matter how much you are earing per month, save 20% of it. This will be helpful to you for any sudden expense that might occur randomly such as health issue or some trip you wish to go. 20% might sound less but save it and forget it. Don’t look at it as it’s your money though it’s yours. It’s your saving and not the routine money that you can withdraw anytime you want, but only when no other option is available, then and only then break it.

Retirement plan

As you grow old, you tend to work less, as your body talks then. So keeping this in mind and knowing the fact that you won’t be able to work forever, plan your retirement financially either by taking a retirement policy or investing your money in safe ways or putting some saving in fix deposit which doubles your money after some period of time.


Devang Vibhakar is the Founder and Editor of www.SpeakBindas.com. He has interviewed more than 350 people. His effort was recognized by Limca Book of Records, twice. He has been to Scotland as well as Germany as part of vocational & cultural exchange programs and has compiled five books so far. He's passionate about bringing forth interesting stories & interviews of entrepreneurs to avid readers of SpeakBindas. He can be reached here.

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