Money Talks # 20 ????- Managing money is different from making money.

Managing money is different from making money.?

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People usually say, Income is the problem. Do you think, are you making good income ? do you want more income ? Mostly you may have ‘YES’?

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If you are salaried person, there is a lot of dependency to improve income. You may need promotion or salary appraisal. Both are not in your control.?

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One thing is in your control. That is your money in hand or Income in hand, you can start manage your own money well. How ? Keep a track and see where you cut !?

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First of all, see the category of your spend. Identify major category of money follow.?

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We can divide our money outflow in to – Accommodation, Food, Travel and lifestyle shopping. Where are you spending more ? can you make one area more meaningful. Meaning, Food – Are you eating out or eating packed food. That will be expensive and unhealthy. If you focus this area you will able to save money. Travel – Are you spending to much on Uber and Auto, can you make it public transportation ? Are you a shopping addict ? can you shop with a plan and avoid quick shopping’s. you will figure out ways to cut spending.?

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Managing money is different than making money. We are talking only one aspect of managing money, that is spending. If you can keep a control over spending, you can save more. That itself a hike in your income one way.?

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When you cant catch your take a control of your income hike, work on your controllable. Your controllable is your spendings. Keep a watch on your big spend items. Cut it without impacting your lifestyle or controlling your confidence level.?

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That effort definitely boost your saving potential, we you get extra savings. Don’t keep it in your bank account, Invest immediately !?