MONEY MASTER

The first universal rule of personal financial management is to spend less than what you have earn, but that alone is not enough. It is good for one to be able to control his or her own temptations from the materialistic world. However, as we know that the inflation actually drives a lot of things to become more expensive, hence living within means will not be sufficient. The next universal rule of personal financial management is to earn more. This one is a little bit more tricky than spending less than what you have earn especially for the working class because the salary is limited to what companies can offer. Even if this rule is not easy to apply to our life, we should really plan and think of the ways to earn more. There are reasons why earning more is important, in fact, it is as important as the rule number one which is to spend less than what you earn. Companies which are focusing on cost control will doom to fail in the future because there is no growth in the compa...

While I'm planning for this year financial goal, I realized that there are certain rules for personal financial management which won't go wrong to almost everyone and at any situation. In fact, I found that these rules are so real and these rule are so simple that we all know deep inside of us, but whether we can apply those rules in our life will be another story.   Well, the first and most basic rule of personal financial management is to spend less than what you earn . When we look at this rule, we would have think, "Oh come on, everyone knows this". True, spend less than what you earn makes much sense as we cannot spend the money that we don't have - provided we do not own a credit card. Once you have a credit card, it is very easy and tempting to spend more than what you can earn, and before you realized, you have already swiped up to the credit limit, which can be up to two to three times of your monthly salary for most cases. Spend less than what...