Money and Budgeting Make You Fidgety?
Posted at 4:13 PM
Living Debt FREE ~ Samantha sent me this article and it fit nicely in our goals to Eliminate Debt ~ She's right, it makes me UNEASY!
Ideal Approach to Personal Finance
The subject of personal finance instills all sorts of real
and imaginary fear in an individual. Even educated
individuals feel edgy when it comes to making budgeting,
investing and renting Vs buying a home decision.
Experienced people, particularly in the area of business
where decision-making is a regular feature, also aren't
quite sure as far as their personal finance is concerned.
Hence, many people put the issue of dealing with their
personal finance on the back burner till they reach a
crisis point in their debt or credit dealings.
Many people have only vague idea about their current
financial position. But a firm idea regarding it is
absolutely necessary before any decision regarding their
finances or taking any action thereof could be taken.
Experts find, to their dismay, that most of the people have
only hazy idea of their net monthly income and total
spending with the result that they are not sure whether
they are saving some money or not.
Assessing your financial situation is the first step
towards fiscal prudence. You should gather all information
and documents that reveal your financial condition. This
includes tallying your net worth, including real estate,
superannuation, monthly income and all other assets.
Observe the total and set up a budget for yourself by
listing all your expenses. Honesty would be the best policy
in this matter. So don't leave any expense out, as you
would be only cheating yourself.
Once you have made a budget for yourself, you arrive to the
next step required for tackling your personal finance. You
should do a survey regarding services available in the
market like electronic bill pay, investment counseling and
seeking tips and hints for financial prudence. For people
who do not have the time for bill payment or simply don't
care, Electronic bill pay or BPay is the most suited.
Option to get your bills by email rather than snail mail is
also provided by most companies. Paying them electronically
through direct withdrawal from your bank would save you
time and money besides the transaction getting immediately
processed.
With these two major steps forward you will gain enough
confidence to venture into other areas of personal finance.
Once you have a grip on your budget and the hassle of
paying the bills out of the way, you won't be scared of
entering into the field of investments and stocks and
shares. You can rely on the Internet to find out various
options and strategies available in the market. You'll be
amazed to see how many references are available about
investments such as term deposits, managed funds, buying
stocks and shares and taking part in share clubs.
Of course, you will tread cautiously and start with opening
a short term savings deposit account, in which you can put
in your savings every week or every month. That's the best
way to start. Soon you will be saving bigger amounts for
fulfilling your dreams to buy a car, go on a holiday or be
prepared for a minor surgery.
Samantha Flokigge is the owner and webmaster of Fuzzy
Finance, a leading
Internet portal for finance information. For more finance
information and resources, please stop by:
http://www.fuzzyfinance.com
Ideal Approach to Personal Finance
The subject of personal finance instills all sorts of real
and imaginary fear in an individual. Even educated
individuals feel edgy when it comes to making budgeting,
investing and renting Vs buying a home decision.
Experienced people, particularly in the area of business
where decision-making is a regular feature, also aren't
quite sure as far as their personal finance is concerned.
Hence, many people put the issue of dealing with their
personal finance on the back burner till they reach a
crisis point in their debt or credit dealings.
Many people have only vague idea about their current
financial position. But a firm idea regarding it is
absolutely necessary before any decision regarding their
finances or taking any action thereof could be taken.
Experts find, to their dismay, that most of the people have
only hazy idea of their net monthly income and total
spending with the result that they are not sure whether
they are saving some money or not.
Assessing your financial situation is the first step
towards fiscal prudence. You should gather all information
and documents that reveal your financial condition. This
includes tallying your net worth, including real estate,
superannuation, monthly income and all other assets.
Observe the total and set up a budget for yourself by
listing all your expenses. Honesty would be the best policy
in this matter. So don't leave any expense out, as you
would be only cheating yourself.
Once you have made a budget for yourself, you arrive to the
next step required for tackling your personal finance. You
should do a survey regarding services available in the
market like electronic bill pay, investment counseling and
seeking tips and hints for financial prudence. For people
who do not have the time for bill payment or simply don't
care, Electronic bill pay or BPay is the most suited.
Option to get your bills by email rather than snail mail is
also provided by most companies. Paying them electronically
through direct withdrawal from your bank would save you
time and money besides the transaction getting immediately
processed.
With these two major steps forward you will gain enough
confidence to venture into other areas of personal finance.
Once you have a grip on your budget and the hassle of
paying the bills out of the way, you won't be scared of
entering into the field of investments and stocks and
shares. You can rely on the Internet to find out various
options and strategies available in the market. You'll be
amazed to see how many references are available about
investments such as term deposits, managed funds, buying
stocks and shares and taking part in share clubs.
Of course, you will tread cautiously and start with opening
a short term savings deposit account, in which you can put
in your savings every week or every month. That's the best
way to start. Soon you will be saving bigger amounts for
fulfilling your dreams to buy a car, go on a holiday or be
prepared for a minor surgery.
Samantha Flokigge is the owner and webmaster of Fuzzy
Finance, a leading
Internet portal for finance information. For more finance
information and resources, please stop by:
http://www.fuzzyfinance.com
