How to manage your money wisely? How to manage your money wisely

Six Habits to Develop in Managing Money Habit 1: Keep a record of your finances. If you can measure, you must be able to understand, and if you can understand, you must be able to change.

Without consistent, organized, and accurate records, a financial plan is impossible. Therefore, it is necessary to keep a detailed record of your income and expenditure at the beginning of your financial plan. A good record can enable you to:

1. Measure your economic status——— which is the basis for making a reasonable financial plan. 2. Effectively change the current financial management behavior. 3. Measure progress towards the goal.

In particular, it is important to keep financial records and establish a file so that you can know your income, net worth, expenses, and liabilities. Habit 2: Be clear about your values and economic goals.

By understanding your own values, you can establish economic goals that are clear, unambiguous, authentic, and feasible. Without clear goals and directions, you can't make the right budget; If you don't have enough reason to discipline yourself, you won't be able to achieve the goals you want in 2, 20 or even 40 years. Habit three:

Determine net worth. Once the economic records are in place, it is easy to calculate net worth——— which is how most financial experts calculate wealth. Why do you have to calculate your net worth?

Because only by knowing your annual net worth will you know how much you have moved towards your goal. Habit 4: Know your income and expenses.

Few people know exactly how their money is spent, or even how much they earn. Without this basic information, it's hard to create a budget and plan how to spend it, and you don't know where to spend it, and you can't make reasonable changes in spending. Habit Five:

Formulate a budget and implement it accordingly. Wealth is not about how much you earn, but how much you have left. Budgeting may sound boring, tedious, and contrived, but you can find out where a large amount of money is going in the little things you spend on a daily basis.

In addition, a specific budget is very beneficial for us to achieve our financial goals. Habit 6: Cut expenses.

A lot of people complain at the beginning that they can't afford to invest more money to achieve their economic goals. In fact, the goal is not achieved by a large investment. Cut back on expenses and save every dollar, because even a small investment can lead to a lot of wealth, such as:

What is the result of saving an extra 100 yuan every month? If you start investing at the age of 24 and can get an annual profit of 10, you will have 20,000 yuan at the age of 34. The longer the investment, the more obvious the effect of compound interest becomes.

Over time, the profits from saving and investing have become even more apparent. So the earlier you start and the more you save, the more your profits will grow exponentially.

The plan is as follows:

1. First of all, set aside the reserve fund combined with your income is about 10,000 yuan as a reserve, which can be used to buy currency, which can be fully utilized, and the currency has good liquidity and can be reasonably used for a short redemption time. (The interest rate is greater than that of demand deposits).

2. You can buy several ** including ** hybrid bond ** due to the young age of the family in this case The investment ratio is 50%** 40% hybrid** 10% bond ** (first understand the **type, allocate funds according to the plan and adjust it in a timely manner!) Proper management can increase your wealth, save for a wedding or a down payment on a house).

3. The total income of two people is about 5000-5500 yuan per month, excluding the monthly expenditure of 3000 yuan, and the remaining funds are 2500 yuan! You can choose to invest regularly** You can choose 3 branches** It can be exponential** Hybrid** 400 yuan each for 18-30 years! It can be fully prepared for the future pension and children's education reserve.

There are 1200 yuan left. You can buy insurance, it can be participating insurance, medical insurance or pension insurance! Approximate premium: about 400 yuan per month for two people (accounting for 10%-20% of the total income, you can compare and understand the type of insurance) The remaining 800 yuan can be accumulated regularly **300 yuan for long-term investment!

The remaining 500 yuan can be used to save pocket money or travel expenses to travel regularly! (Funds can be combined with their own flexible planning).

333 financial management concept, one-third of deposits, one-third of treasury bonds, one-third of wealth management products (insurance, paper**, **, etc.). In particular, one-third of the wealth management products (insurance, paper, etc.) have large returns and risks, so it is appropriate to go for the time being.

There are risks in financial management, and you need to be cautious in investment!

To invest in a wealth management product, it depends on whether the company is reliable and whether the product conforms to the investment logic.

Make a decision based on returns, risks and liquidity!