Reading to be more informed and to understand what strategies to adopt in managing personal finance and what mistakes not to make is the first step in increasing our knowledge.
There are several interesting and affordable readings.
We recommend a list of some interesting books. It can be found here.
And on the subject of books…there is one“to fill in” that can help you manage your weekly finances well. It is about the Kakebo.
We discussed this in
tip #3 “Set a periodic budget.”
Learn about other financial best practices
Good financial advice #06 Dedicate 30% of income for personal expenses
Plenty of people suggest using no more than 30 percent of monthly earnings for personal expenses, i.e., travel, dinners out, birthday gifts or subscriptions to gyms, newspapers and more.
Good financial advice #05 Devote 20% of income in savings
A good way to save is to follow the 50-30-20 rule that suggests using 50 percent of income for necessary expenses, 30 percent for personal expenses, and 20 percent for savings.
Good financial advice #04 Spend one minute of money a day
To be always sure of one’s financial and, therefore, economic situation, one only needs to devote 60 seconds each day to money management. How? Checking on investment trends, news, and important news.
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