Very few people understand the meaning of this fact, but once you do, you will realize how much you can gain. Most people do not understand what managing finances and investing money is all about. All they are concerned about is running behind people who they think can help them out. But in this greedy and selfish world, you cannot expect anyone to help you out with money unless it’s your near and dear ones.
If you are looking out for ways to manage your money and watch it grow by investing it in the right kind of places, then our first advice to you would be to stop wasting time in unearthing the ‘secret’. Rather, start reading more and more about the various investment options available in the market, policies that can favor your business, legitimate ways to save taxes, and networking with people who are avid investors.
Apart from that, there are 3 financial advice secrets that I’ll share with you –
· Follow the 50-30-20 rule: An wealth manager told me that 50% of your earnings should go towards your home expenses, bills, and other necessities. 30% should go towards your ‘wants’. The rest 20% should definitely go towards investments and savings.
· Right now is the right time: People often wonder which the right time to invest is? The truth is that the rising market is not the right time; right now is the right time! The amount of time you invest the money for is greater than the timing of your investment!
· Do not ape anyone’s lifestyle: The media often gives us prototypes of how an average lifestyle should be lead, and how an extraordinary one should be lead. Avoid all those things, and lead the lifestyle that you can best handle. The financial planning company says that you know how much money you’ve rather than the media knowing about it.