Saturday, April 18, 2009

Ground Zero of the Personal financials-Basic fundamentals

A strong foundations comes from understanding the following seven points thoroughly. Later postings in this blog would be defining each of the categories in finer details.

 

Increase your active income Apart from Salary source, dig out other sources to increase your income
Decrease your taxes Money saved is money earned.
Pay yourselves first Before allocating money to bills, set aside money for improving your financial health
Control your expenses Keep track of money being spent on expenses to control it.
Start investing Bring in passive incomes.
Protect your money Hedge your investments to protect your money.
Share your money Always share a part of your profit.

Lets get the ball rolling…

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