Smart Personal Finance in 10 Simple Rules

It is a good financial habit to manage personal finance and even teach your children young about it. This helps in any sudden situation of unemployment, disaster, loss of family member, etc. at least in little bit. There are several individuals, families, and others who manage the personal finance in a smart way. Some even buy Money Counter Machine – Bill Counter Machine – Portable Money Machine Counter – 150 Straps & Counterfeit Detector Pen – Money Counting Machine for Mixed Bills – Currency Counter – Dollar Cash Counter to assist with personal finance. There are 10 simple rules for the same so read on.

  • Try to save money each month which could be little as 10% or more. It helps in the long run.
  • Pay up all bills in full especially credit card bills as this helps to reduce or subtract interest.
  • This means you must not only pay the monthly minimum fee or amount but all purchases/bills that you have made with the bill in full.
  • Avoid purchase and sale of individual stocks.
  • Try and maximize savings accounts with tax benefits to whatever amount is allowed.
  • Make sure or try to get financial planners who agree to take just fees and not other incentives, products/schemes commissions, etc.
  • Plan about buying a house as this can get you a mortgage and there are many benefits like loans, house rent, staying in a house, etc.
  • Do the social safety as much as you are able to afford as this seems like spending when discussing managing personal finance but whenever and whatever you are comfortable in giving away.
  • Buy safe index bonds, and inexpensive mutual bonds, etc. once they are cheap so when the value goes up you can sell it and it may be a smaller profit but still it is a profit for you.
  • Make a list of all these rules and keep it as a priority list to check up time and again. Paste it on your bedroom, or your cash counting bench, or where you keep your money. It helps you to remember what to do.