How to learn to control and manage your money. 9 Basic Financial Rules

Those who do not know how to manage their money always end up without money. If a person works and sits without money all the time, then the question always arises that he:
  • or have to change jobs
  • or he doesn't know how to manage money at all
  • and doesn't know how to save

We will teach you how to learn to manage your money in this article. Because there should not be a situation where, after receiving a salary, 10-15 days later, and some people run out of money sooner, and the process of “struggle for survival” begins.

Vicious circle

A person may encounter a situation that seems paradoxical. Having received a good salary, after 1-2 weeks he finds himself practically without funds. Every month he expects certain expenses:

• rent or mortgage; • credit; • Payment of utility services; • buying groceries.

This is just a small list of possible expenses. According to DAICO CEO Mikhail Bondarenko, liabilities are any expenses, for example, loan payments, renting an apartment, spending in stores, etc.

Monthly obligations and inability to manage your own income create a vicious circle. You can break it. You just need to learn how to properly and successfully manage your money.

Mikhail Bondarenko: “The most important rule is to reduce the number of liabilities and increase the number of assets. This is a classic rule from Robert Kiyosaki's financial management methodology. This rule is relevant for the family budget and business equally. This rule is very effective when you start to put it into practice in everyday life.”

Tips for every day

Every month a person faces the difficulties of distributing money. To avoid this, it is better to follow the guide for every day:

  1. 2 days before receiving your salary, we make a list of necessary expenses for the month.
  2. The day before we receive our salary, we buy food.
  3. On payday we don’t buy anything except bread and milk.
  4. We distribute income among envelopes.
  5. We pay loans, mortgages, rent, etc.
  6. We study applications with discounts.
  7. We buy food for the week on special offers.
  8. We buy household chemicals for a month.
  9. We purchase food products for the preparation of semi-finished products.
  10. We prepare semi-finished products for a month.
  11. Watch a video on financial management.
  12. We are looking for an additional source of income.
  13. We buy food for the week.
  14. Let's go visit because it's profitable.
  15. We are looking for tips for saving money, implementing life hacks.
  16. Fasting day. They are good for health and saving money.
  17. We are looking for food products on sale that have a long shelf life: canned food, cereals, candy.
  18. We analyze expenses and calculate the remaining funds. If necessary, we redistribute money in accordance with planned subsequent expenses.
  19. We buy products for preparing semi-finished products.
  20. We prepare semi-finished products.
  21. We buy groceries for the week.
  22. We review personal items from the wardrobe and sell the excess.
  23. We watch personal growth trainings, read a book on finance.
  24. We are engaged in the exchange of unnecessary things, equipment and other items.
  25. We are trying to earn 500-1000 rubles on the Internet.
  26. We analyze expenses. We put some money into the piggy bank because we will receive our salary soon.
  27. We carry out an audit in the refrigerator, taking into account the prepared semi-finished products and the products purchased earlier as part of the promotion. We are making a menu for the remaining days.
  28. Dinner party. You have dumplings and stuffed peppers, the guest has cookies and sweets for tea.
  29. Fasting day. You can drink tea with your friend's treats.
  30. Analysis of expenses, remaining amounts in the envelope. Allocating an amount for the remaining 2 days before payday - here it is important to allocate a small amount for the most necessary expenses. Put the saved money into a piggy bank.

By living according to this principle for six months, you can develop a savings strategy. Managing money will be much easier, and the money in your piggy bank will increase.

How to manage money

A person has been undergoing several training courses for 16 years, but during this time no one taught him what proper money management is. It is also not possible to master these skills through family. It’s rare that families know how to manage finances rationally. All that remains is to acquire this important knowledge and skills for life on your own.

There are general rules on how to create effective money management:

• cost planning; • search for new sources of income; • rational use of loans; • making purchases in cash; • investing in your own development; • accumulation of reserves; • setting goals; • study of financial legislation.

Each of these points is worth understanding in more detail.

Real Estate Investments

Advice on how to manage money in the long term would be a recommendation to pay attention to the real estate being built. It is important to note that it will not be possible to quickly return the invested funds and make the first profit. The first thing you need to do before spending money is to choose the right object to purchase.

These are divided into several types:

  • Residential Properties;
  • shopping areas;
  • office real estate;
  • empty sites with the possibility of potential sale;
  • industrial facilities;
  • tourist infrastructure facilities.

Each of the presented positions has its own characteristics, which must be studied in advance. The essence of the process of investing in buildings is the ability to sell them when the cost of 1 square meter increases. In every sense, buying a private home or office will be the right way to spend your money after studying the following parameters of the lot:

  • characteristics of the land plot;
  • the presence of environmentally unfavorable factors;
  • degree of development of social and transport infrastructure;
  • the presence of natural reservoirs;
  • age of the building, etc.

Expense planning

It is better to manage finances not in your head, but on paper or in an electronic document. Mikhail Bondarenko: “Now there are many convenient mobile applications (including some banks within their application) that help you figure out how much money comes to a person per month and how much goes out. If you ask yourself frankly how much money was spent last month, very few people will know the exact figure. And you need to know it.”

Notes will help you learn to plan. By making a list of necessary purchases, you can estimate their cost and importance. Some of them may be a waste of money.

“In order to gain financial independence and ensure a decent future, you need to very strictly control the cash flows within your family and enterprise. You need to start small - create a table where all your assets and liabilities will be entered, and your daily expenses and income should also be entered.”

Venture investor Alexander Krasavin: “Distributing money among several types of expenses will allow you to control your financial expenditure and give you an understanding of which area of ​​life you need to save, and in which you need to buy something more expensive.”

Be persistent

Despite their good intentions, many people give up managing money. Sticking to a budget that is too restrictive can be stifling. But don't despair.

You didn't get into the financial situation you're in overnight, and you won't get out of it overnight. Give yourself time to learn and grow. With hard work and dedication, you will learn to manage money with confidence.

  • How to Overcome the Poverty Mindset for Financial Abundance

Search for new sources of income

An additional source of income will give you confidence in the future. The person will be less dependent on the basic salary. The main thing in this matter is desire. So the source can be the ability to knit hats. There is always a demand for them, and if you do it efficiently and creatively, your income will increase.

It is worth selling all unnecessary things. There is no need to stand in the market and waste time on this, just use the Internet. After studying financial literature, you can invest money in banks and make investments. If a person has unclaimed property, it must be rented out. This way, I won’t accumulate debts, but passive income will appear.

Mihaly Bondarenko highlights assets - this is what brings us income: renting out real estate, dividends from purchased shares, interest from bank deposits, additional part-time work.

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