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Hi, If you’re looking for some easy ways to simplify your finances, consider these straightforward ways to master money management:
- Don’t Spend More Than You Earn: for you to be financially wise in any financial situation you are in, you can’t spend more than the money you earn or make.
- Create a Financial Calendar: Many people kick off the year with great intentions, but fell off track along the way. For those who already have a budget, go a step further by making a financial calendar. And save your calendar on your phone or any other device, so you can set reminders and create a list of major financial tasks you intend on completing, along with their due date. You can also use it to set financial goals, or to track goal milestones toward investing, savings or paying off debt.
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Organize Your Expenses into Fixed and Variable Categories
List your monthly expenses and categorize them into fixed and variable.
- Fixed expenses are bills you usually can’t avoid and need to pay. Such as rent, groceries, transportation, insurance and debt repayment.
- Variable expenses are more flexible expenses like a gym membership, vacation trips, clothing or entertainment purchases.
- Setup Systems to Automate Your Money Management and Investing: For the most of your money, you shouldn’t be thinking about; establish procedures that automates your money savings and investments.
Remember this; “Principles are ways of successfully dealing with reality to get what you want out of life.” — Ray Dalio
