Money is absolutely essential in our today’s life.
We can buy the things we want and
we can go to the places we want.
Money can also buy us better health maintenance,
which is the most important thing in life,
as far as I am concerned.
If we are not healthy then even if we are wealthy
it is absolutely useless; we do not feel or can
do and enjoy anything.
We all want to have enough money to do as our
The way we deal with our finances is of vital
importance to our financial prosperity.
Most of us make mistakes from time to time.
Others due to ignorance and others because
they are carried away emotionally.
The important thing is to see our mistakes, recognise
them and stop them or avoid them completely.
We will certainly succeed in this by taking all
the necessary steps.
This will ensure that we do not suffer all the
unpleasant consequences afterwards.
Some mistakes are more important than others.
Here are the most important to me.
1) Vanishing Funds:
People spend without thinking or due to psychological
reasons. Avoid both as much as possible.
Keep your spending under control by holding on to
all receipts, and check them with your bank or
credit card statements.
Never spend more than you earn.
We do not need to build wealth and ignore our present
life; but we do need to have an Emergency Fund for
any unexpected events.
Avoid having a negative attitude towards your finances.
The earlier you save the more profitable it will be.
Also do not waste your money buying an advanced
You do not need all the extra features the banks offer.
Avoid borrowing to buy things which knowingly
will lose value soon: kitchen appliances, furniture, etc.
As far as buying a car is concerned I suggest,
a) to buy a used, only a few years old, in very
good condition, OR
b) a small new, if you want only brand new car,
and always inquire about discounts.
Always try to clear all your debts to save yourself
penalties and high interest payment.
Be clever and eliminate stress and trouble from
Obviously we do not want to invest our money
in high risk stocks and shares with losses.
But we can make a plan of how we can acquaint
ourselves with a future low risk investment,
when the market is appropriately stable.
Perhaps in more than one market for security
I do believe we should not follow any current
craze because it will have already passed, and it
will not be an opportunity any more.
If you manage to follow the above suggestions your whole
life will improve immensely and you will feel happier.