We’re all concerned about our physical
health. We constantly get medical check-ups, and ensure that we have good
hygiene and sanitation.
However, most of us forget the fact that
our financial health is just as important as our physical health.
Just like in physical health, certain set
of habits can also affect your financial health. So, here are the three major
rules of Personal finance that you must never compromise on!
1. Spend less than what you
This should be the rule number one. You
must never, and we mean N-E-V-E-R compromise on this rule. Take charge of where
your money goes and how much you spend. Do not get stuck in the pit created by
poor financial planning – because it’s not easy to climb out of the pit of
credit and growing debt.
Living beyond your means is going to ruin
your peace of mind. Finding ways to spend less your income will lead to a more
rewarding and satisfying lifestyle.
2. Keep Track. Be Aware
Know how much you earn. Know how much you
owe. Be aware of where your money comes from and where it goes. Keeping track
of your finances and being aware of your net worth is quintessential. Yes, it
will take a lot of time and discipline, but it will also make sure that you
will become better with your money.
3. Be Insured
Always be insured!! Insurance keeps your wealth safe and protects from disasters. Thanks
to technology, you can even compare and buy insurances online. You get to
protect yourself and your asset by having an insurance. The more assets you have, the more insurance
you will need!