You soon step out into the real world. A post graduate life or a life with a full fledged job and career takes you to a world of realities and responsibilities. Its time for you to earn your own money and understand your personal finances of supportive parents to pay your bills, you need to be in it yourself. The name of the game is understanding your finances and playing it right. Here are some financial tips that can set you on the right path:
Budgeting procedure: It’s time for you to take stock of your finances. Know exactly how much you are getting and what you have to pay out towards your expenses. Irrespective of the quantity of money you earn you can always get used to the idea of budgeting by simply maintaining an excel file of your receipts from various sources and related expenditure. It just helps you keep track of your expenses on a day to day basis.Knowledge of credit report: Realize and understand the need of credit reporting. You should know that for anything you need to have a positive credit rating. Whether it is buying an apartment, a car or for that matter a job, you need to have a good credit rating. Try and spend some time on finding how it works. Pay your debts on time, and more importantly, spend sensibly.
Get health insurance: Save money and get yourself a health plan. It helps to minimize medical expenses which could sky rocket your expenses. These days there are insurances where you have to pay small amounts yet you are covered by it.
Avoid accumulating debt: When you are in college it is almost a common thing to be in debt. Try and avoid too much of it when you have the time. You can live simple and try and clear of your debts so that you pay little or no interest to the credit card companies. The best way to go about it is budget and use your cards, and pay off at the end of the month to about interest accumulation.
These little steps help you to plan your expenses and incomes sensibly and preparing you for the days to come.
Start slow but start early!
i think u r very great person,very down to earth,very knowledgable,humble,lives for others,may god bless u n to u r loving ones,u live a long life,thank u ..................
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