Write a short note on proper money management 150 words
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Write short note on Proper Money Management in 150 to 200 words
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Proper Money Management:
Money management is the process of saving, budgeting, spending, investing, or otherwise management of the capital usage of a group or an individual. Managing our money takes time to understand and to improve on and to master, it takes dedication and a solid understanding of our financial situation. These are the first steps in effective money management.
There are different ways for proper money management such as: creating a budget and sticking to it which helps us understands with clarity and full transparency our financial situation; keeping track of all your expenses so as to have all our expenses accounted for; creating an emergency funds and we must not touch or take money out of the fund and allow it to earn interest to use for rainy days; start saving for retirement early so as to live a peaceful life after retirement; reduce or slash unnecessary expenses; and we must understand our income and expenses and have a thorough understanding of the money coming in and the expenses going out.
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Write a short note on proper money management (50 words)
Short note on proper money management on easy english
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