Investments Markets

60 golden rules to manage your personal wallet

You certainly want to manage your personal wallet. You want to stay cool and calm with the sufficient money in your account. Follow these 60 golden rules :

1-Moderate spending

Keep moderate spending on shopping.

2-Adopt Simplicity

Try to stay as simple as possible.

3-Stay in the present

Don’t think of the future too much. Stay at present to earn money for the future.

4-Have emergency saving

Try to save some money for an emergency that occurs all of sudden.

5-Avoid Taking loan

Don’t take a loan, if you can stay without it. The huge interest in load will disturb your budget.

6-Keeping saving for retirement

Keep some saving for the day when you will have nothing to do after retirement.

7-Insurance for dependence

Buy insurance policies for your children.

8-Maintain a monthly budget

Strictly maintain a monthly budget to ensure some savings.

9-Maintain your utility bills

Don’t use electricity and other facilities without the need to maintain your utility bills.

10-Determine the actual income

Review your monthly income to determine your resources.

11-Find the substitute for the costly needs

Buy the substitutes for the costly items you need.

12-Don’t invest money on a project if you cannot afford

If you cannot afford the investment, don’t take a step by taking a loan on heavy interest.

13-Avoid the investment traps

Don’t get into the traps of the investors persuading you for investment.

14-Big goals setting and struggling

Make big goals for the future to achieve them one day.

15-Build home when you can afford

Don’t take the home loans on huge interest; you will stay hungry while paying back a loan.

16-Buy vehicles that you can afford

Buy the vehicle that you can afford.

17-Drive vehicle at normal speed

Your vehicle will not need maintenance soon if you drive it at a normal speed.

18-Air tight your home

Keep your home airtight to stop leakage of heat in the winter.

19-Good terms with neighbors

Maintain good terms with a neighbor to borrow things at the time of need.

20-Do not go beyond your means

Spend as much money as you can afford.

21-Save as much as you can easily

Don’t be utterly close-fisted, save as much money as you can save after fulfilling your basic needs.

22-Realize your children of the value of money in life

Start teaching your children about the importance of money in life.

23- Don’t get retired if you can continue

Don’t request for retirement if you have enough strength and permission to carry on. You will lose a regular monthly income.

24-Invest you money in stock market

You can earn profit by investing in the stock exchange.

25-Buy cheap share in the market

Don’t buy heavy shares in the market to avoid a bigger loss.

26-Do not invest in individual stock

The individual stock has more possibility of getting collapsed.

27- International investment serves you better

Invest internationally if you can. You have more chances to settle abroad.

28- Buy bonds

Buy prize bonds to try your luck.

29-Make a plane to do before the retirement

Make an after retirement plan to stay busy after retirement.

30-Meal planning at the start of the week

Plan the weekly meal to ensure saving.

31-Show your competency to your employers

Show your competency to your employers to increment.

32-Buy vegetable weekly

Buy vegetables weekly to avoid more spending daily.

32-Avoid extra shopping

Make a list of the necessary item before going shopping. Don’t overrule your shopping list.

33-Avoid advertisement

Don’t watch advertisements; they tempt you to buy unnecessary items.

34-Adopt cost-free hobbies

Don’t waste money on costly hobbies. Adopt only cost-free hobbies.

35-Avail free services in your communities

Try to avail of the free services in your community to save money.

36-Don’t care for other’s opinion about your lifestyle

Don’t care for other’s opinions about your way of living. You are not bound to follow them.

37- Don’t follow others in spending

Don’t live the way the others live. They have a different source of income than yours.

38-Have strong ties with people

Have strong ties with people to get their maximum help at the time of trouble.

39-Recount your belongings

Keep the record of your belongings; recount them time and again every month.

40-Don’t play the gamble

Don’t play gamble, it has a possibility of loss.

41-Stay focused

Do much as needed. Don’t get involved in useless activities to waste time and money.

42-Start a side business

Start a side business to increase your income.

43-Watch TV to a limited extent

Don’t watch TV more often to avoid the temptation of buying new goods.

44-Buy that you direly need

Only buy those things that you direly need.

45-Don’t  buy expensive items

Never buy expensive items. The substitute is there in the market.

46-Buy cheap things

Cheap things also fulfill your needs.

47-Dine at home

Never dine outside. Dine at home to save money.

48-Avoid drug addiction

Avoid all kinds of addictions; smoking, tea, and piping.

49-Prepare more food to save fuel consumption

Prepare more food once a week to avoid more consumption of energy.

50-Led Bulb usage

The led bulb should be used to save energy.

51-Use cheap grocery

Use cheap groceries to save money.

52-Fix your problems yourself

Don’t go to the mechanic if you can repair the vehicles or goods.

53-Don’t let others use your vehicle

Don’t let others use your vehicle; the life span of your vehicle will lessen.

54- Unsubscribe useless membership

Don’t involve in those activities that give you nothing in return.

55- don’t leave the food on the table after lunch

If you take lunch outside, take the residue to home.

56-Use public transportation

Use public transport to save money.  

57-Be Friendly to your life partner

Be friendly to your life partner about your future plan.

58-Happiness lies in the heart, not in goods

Don’t run after luxuries of life; happiness lies in the heart.

59-Show clear cut response

Don’t feel shy while saving money.

60- Do not share financial secrets with others.

Don’t share your financial secrets with others; they will borrow money from you.

Conclusion

Save money as more as possible by adopting a simple way of living.

Related posts

Excellent early Black Friday deals and Tips to Grab

Sarah Petterson

Marketing Plan: How to Create a Good One

John Mcneotis

Become An Influencer: Here Are The 5 Secrets To Get Noticed While Having Fun Online

Sarah Petterson

Leave a Comment

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy