31 January 2014
Finance management is essential for every individual be it a worker in a small firm or a CEO of an organization. Everyone, daily does many financial deals knowingly or unknowingly. A housewife buying vegetables – is a financial deal, a child buying a chocolate – is a financial deal, a student purchasing book – is a financial deal, a man buying raw material for his business – is a financial deal. Financial management is the backbone of firm, household, etc.
In order to lead a happy and peaceful life, a person need to have strong financial knowledge. Financial knowledge and decision making capability can prove to be extremely beneficial for ones life. Below are basic rules that that will help in financial management:
Start saving early.
Have a plan
Never put all eggs in the same basket(investment can be in equity, gold, derivatives, real estate, FD, etc.)
These simple rules followed continuously can lead to asset generation. Asset building is the first step of positive progress.