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Ten Tips for your Personal finance management.


Personal finance management is an important step for attaining financial freedom.When it fails,you will lose control over mind and life.Research shows that personal finance problems negatively affect even the health and career of an individual.Try to follow these 10 tips for managing your personal finance.
  1. Write your Life goals and categorise it as short term,medium term and long term.
  2. Analyse your monthly income and expenditure.
  3.Record net cash flow and calculate networth.
  4. Increase your saving and invest it in various assets.
  5.Avoid loans for luxuary.Reduce the proportion of loans in your portfolio.
  6.Create an emergency fund to meet unexpected hurdles.
  7.Always keep balance in your savings account and money market scheme.
  8. Don't invest in liabilities.
  9. Start systematic investment plans in index based equity funds or gold exchange traded funds.
  10.Invest in your job skills and abilities.Upgrade professional knowledge.