Why Didn't They Teach Me This in School, Too?
This book gives 99 personal money management principles. Money is very important in your life. And you should consider these important points in your financial journey.
- Work for learning at your working place. Observe the behaviour٫ knowledge and skills. Consider your salary as a fees which is paid to you for learning. Just like that in college you were paying for learning.
- Make your life partner a financial partner. It does not mean your life partner should be wealthy. It means your life partner should have good financial habits.
- When your income increases do not raise your expenses in improving your lifestyle. Divide your raised income into two parts. Invest 50% and include 50% in your expenses.
- Always live below your means. When you go to a job from your student life. Considered that you are in student life yet. So live in the budget which was in your student life. This will increase your investment capacity.
- Invest wisely. Investing for higher returns is always high risky. Invest low percentage of your resources in high risk projects. Investment does not means to invest money. It also means to invest your time and energy. If you have good habits to study books to gain knowledge. This is also a good investment.
- Life planning always has a chance of failure. So we should have an emergency fund to fulfill the daily expenses in case of emergency. Your emergency fund should have capacity of 6 to 12 months expenses.
- Do not buy the things that you cannot afford. Debit and loan is bad. You do not deserve the thing that you cannot buy.
- What you can measure you can manage. What you cannot measure you cannot manage.