5 Best Personal Finance Tips in 2019

The best way to uplift your personal financial status is to start saving as early as possible. Although, it is a huge job, considering your income per month, your household and other expenditures and other miscellaneous outlay.

Many of us fall prey to the budget plan which keeps on fluctuating with the ups and downs in product costs and service costs. However, we all know how important it is to have some personal finance in your hand.

To make that possible, this finance blog is solely written on how you can do that.

#1 Stablilize Your Income

You need to have at least some finance in your hand to start spending it and saving it. To ensure that, you first need to stabilize your income. People who have just started earning can also start saving, but that will be irregular because the amount which you will be getting as a fresher will not be much to save.

Therefore, stabilize your workplace. If you want, you do not need to start saving right away, but planning is very important. You will have to decide, from what point you need to start saving.

#2 Wisely Spend Your Income

Do not let your expenditure be more than your income. Personal finance will only grow when you save some money from your total income. Even small cost-cuttings in different aspects of life can contribute to bigger accumulative saved capital.

Say suppose, you can save some money from some household cost cuttings and also from your personal expenditures. Do not forget to organize all the money in a single fund so that you do not get confused about the amount of money that you have saved.

#3 Sticking to Your Budget is Very Important

It is very important to make a budget plan on your income, but something which is much more important than this is to stick to that budget. This finance blog, will explain you how to manage your budget systematically.

• Divide your income into different parts.

• One part should go to your house has expenditures and other bills that you will have to pay.

• Another part should go to your personal expenditures.

• The last remaining part will be your savings amount.

• Send the savings amount to your savings account right away, so that it disappears from your site, so that you do not spend that money by accident.

• Keep your other expenditures separate and maintain a chart which will show you how much money you have spent on what.

• Keeping a spreadsheet will help you in not only analyzing your cash flow, but will also give you an insight on how to manage it.

#4 Keep Away Your Credit and Debit Cards for a While

Credit cards and Debit cards are such an addiction that does not even make you realize that it is the real money that we are dealing with, when we just whip off our card to buy something.

This is a kind of habit that resists us from saving money because no matter how much we go according to our plan, there are times when we end up spending much more money than we earn.

According to this finance blog, make sure than you plan out your daily expenditure and spend your money accordingly. You can keep your debit card with you, but make a habit to only use them when there is an emergency.

#5 Make the Most Out of Your Emplyment Benefits

Personal finance also comes from the amount of money that your employers cut from your salary for the betterment of your future. So make the most of your provident funds, health insurances and many more.

You can also save some money by investing your money into several retirement policies, and other insurances by reducing the amount of tax that you pay.

Every penny counts, so start saving from today for your personal financial success!

Ariana Smith is a digital marketing analyst, SEO consultant and enthusiastic internet marketing blogger. She is the co-founder of iDream Agency- A result driven digital marketing agency. She is a regular contributor at Social Media Magazine.