Categorized | Finance

Personal Finance Liberty

You are looked on for what you own. You may be very dynamic, professional, social and acceptable, but without money it is difficult to get a stand in this society. To lead a respectful life and be the part of this civilized human race, financial credibility plays a very important role. Being rich or poor is immaterial. But if you want to be able to lead an independent and esteemed life, you have to be financially free and insured. What is poor or rich? It is just a relative concept, if you are able to meet your requirements and the needs of your dependents you are free of the clutches of the poor economy. Because, as and when your economical status improves, your needs remain the same but the wants keep growing. To curb the imbalance between the needs and income, you should have a steady and improving income.

Money Falling on Happy Businessman

You may be born poor, but you are not destined to remain poor. You can turn your lifestyle with rigorous and dedicated efforts. But if you are a born rich and lose your money on luxury, parties and big expenses without ensuring income returns, soon you will touch the rags’ life. To have a positive growth in the life, personal finance is very important and also ensure your finances are in your control and not in someone else’s not even your family. A few reasons why you would want to have liberty and freedom to your personal finances:

Satisfy Your Needs:

Your needs may be minimal, food, clothing and a house. The day to day expenses that can be easy to meet but when in dire situation you should have reserves to take care of them. So, in order to cover your needs for today and the nearing future, keep a sufficient reserve that will keep you living in a temporary economic crisis.

Live With The World:

Once you satisfy your needs, you should not sit calmly. Reason being, you have so many worldly things that you should own to be upbeat with your friends and families. Laptops, good Smartphone, LED TV are the trends that keep you in vogue.

Savings And Investments:

You may wish to stay in the future and not worry about it until it steps in your life. To be certain about the uncertain is important. Keep a share of savings for the retirements. When you have good reserves, it is easy to retire early. Think of the future so that you can make it as safe and secure as it is now, invest in some retirement plans and savings plans.

Be Debt Free:

Debts are a very dangerous situation. When you save and keep good reserves of cash or valuable property, they will serve you in the times of emergencies. You should be able to cope up an emergency crisis, even to avail a loan you need a security or property on which the loaning agencies will approve the same. Conclusively, to be financially stable and independent is very important as your whole life and your dependents rely on financial security.

About Author

Loren is a freelance blogger who occasionally writes on finance and relationship, She recently read this article and found it very interesting.