Is your money your friend?
We must learn to befriend money. With wide misconceptions, we end up making our money sleep rather than making money work for us.
What comes into your mind when you think of the word Money?
Well, Money being the most important and the most basic thing of everyone's lives, should have become our closest friend. Right? But is everyone successful in managing your so-called "Finances"? Apparently not!
The study says that many people run out of their money they get as salary in the first quarter of the month! This is flabbergasting! When there are virtually hundreds of trainers training people to manage their personal finances, there is still a large chunk of people who are either very ignorant or being less aware of the money behaviours and the repercussions on mismanagement of their finances.
Now you would be wondering whether I am talking something gibberish. The widespread notion that we should not speak about salary to our friends and relatives is actually a big reason behind the slump in the learning curve about the money management of a normal non-finance person.
Of course, we have been handed over the recipes of home management in a frugal manner by our favourite women on earth "Mother" or "In-laws" (in the case of Indian families). But, is frugal living alone a solution to all the money problems? Unnecessary consumerism can be cut through frugal living and minimalism concepts but still you wouldn't hit the jackpot of "Befriending Money".
So, what exactly should you do?
Read on to know more about money management for normal people like you and me!