Simple Money Rules

Ever since man moved beyond the barter system and discovered the wonder called MONEY, his life had never been the same. The importance of money has grown manifolds and various forms evolved in due course. From being just an exchange instrument in the ancient times, to its current status, where it plays a vital role in survival and power play as well; money has come a long way.

So, you do not need to be a Sherlock Holmes, to figure out the importance of money. In fact, you would have already known, if you are caught in a very difficult monitory situation. It is therefore very important to manage your finance in a proper way.

The following are some of the tips which can help manage your finance in a proper way:

1. First and foremost get rid of your debt burden as soon as possible. For this, you should avoid making the mistake of remaining content by paying the minimum payment amount. You must always remember the more you pay, the better it gets for you. Therefore, pay more than the minimum requirement and pay it on time. This is because, if you do not pay on time, a finance charge will be added onto the total, making it all the more difficult for you.
2. It is also advisable to avoid using credit cards, to save yourself from incurring huge debts; and even if you do, then make sure that you use them only in case of acute emergency. Avoid additional purchases, until you are in a position to pay for them in cash.
3. It would be beneficial on your part to see to it, that you are maintaining your records properly. Set up your own objectives and make diligent efforts on your part to fulfill them. You can also take the help of various soft wares which are available in the market, which can help you in achieving your targets. Keep track all your accumulated debts and list them according to a priority basis. You should always make sure that you put the debts with the highest interest rates on top, and use as much of your income as possible in paying off these debts.
4. Do take good care to prepare your budget and make sure that your budget is on the right track. Always make sure that you are not exceeding your budget. Fix your purchases on a priority basis, starting with bare necessities.
5. Always make some savings on a regular basis. This should be one of your priorities; and however hard it may appear to you, making a saving should be of utmost importance for you.
6. Make sure that your business accounts are separate from your personal account. This way, you will be able to keep track of your finances separately. Intermingling your business and personal accounts, would be the last thing that you should do.

With the help of the above tips, you would hopefully be able to mange your finances properly and keep your finances in great shape.