Your financial well-being depends on how well you are managing your finances. Money management as we say is an integral part of your complete life and there are various elements to it. You cannot achieve financial success if any of the element remains unaddressed. Ideally, your financial plan should include managing your cash flows, debt, investments planning, tax planning, risk assessment and estate planning. If your cash flows are not good then it will hurt your savings which in turn will hurt your investments planning. Similarly, if your investment planning is not wise then you will have less to leave for your loved ones. Thus all these elements are interlinked and so important to complete your financial plan.
How you value money rest on how you have experienced through your parents and what values have been passed on to you. If your family has been on a lavish lifestyle you would probably be in the same mindset. Contrary to this if your family has been a money managing family then you would inculcate the same in you. Still, money management is something which we keep on learning through our whole life.
There is no age, no place and no criteria to learn money management. Whatever and under what circumstances you are knowing more about money gives you more knowledge on how to manage it. Unawareness leads to costly mistakes as has been experienced by most of us. Last minute decisions, incorrect asset class, short term view, too much debt are some of the mistakes we do. But learning money management is not one day or two-day affair. You keep learning till you are inclined towards it. When you are young you learn to start growing it while when you are in later years of life you learn to distribute it. Thus, money management is an important part of your life which if taken seriously reward you with more wealth and more peaceful years of life.
So here is an ebook on money management
– which gives you ideas on how to deal with your finances. As it says” As Your Investment Knowledge Rises, So Will The Returns” the ebook helps in enhancing your knowledge on your finances which will help you in making wiser investment decisions. This ebook is published by money control and presents some of the finest articles on various aspects. Happy to share that I am in the list of those authors whose article was selected to bring this ebook for masses.
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Disclaimer: This Ebook is published and distributed by Moneycontrol