Learn good words to manage money

1. How to learn to manage money

As the name suggests, financial management is to manage property. I personally think that saving money to buy insurance, if you have some financial foundation, you can speculate in foreign exchange or stocks (risky). A small investment.

Financial management is a science. Different people have different financial management methods due to different work incomes and family situations. Therefore, how to manage finances should be formulated according to their own circumstances. I would like to recommend a few better websites to you. Combine it with your own situation and learn slowly. Through learning, I believe you will be able to find a financial management method that suits you: Financial Management Channel - Sohu Financial ★★★★ Hexun Financial ★★★ First Financial | Financial Management Weekly ★★★ Financial Management_Finance Zongheng_Sina.com ★★★★. 2. Why should young people learn to manage money?

In the West, 18-year-old young people have become self-reliant and can support themselves independently without asking their parents for money.

They have been gradually managing money since they were young, and by the time they are middle-aged, they have become the main competitors in the market. In China, the vast majority of young people still rely on their parents and only start learning financial management in middle age. At this time, due to the influence of family and children, their energy is already limited.

As I grow older and face retirement, I still have a little money and want to prepare for my own financial resources after retirement. I am simply unable to invest my money on a larger scale. In the end, I can only Do nothing. Youth is wealth, and everyone envies youth.

We can use the simple compound interest formula to reach this conclusion. If you have 10,000 yuan in entrepreneurial funds when you are young, 10,000 yuan can become 2 million yuan in 10 years; and the same 10,000 yuan in old age can only grow into 60,000 yuan in 10 years or even be a loss, so youth The saying that time is a golden age is not an exaggeration at all.

Similarly, youth is also the most important asset for financial management. Celebrities often say to college students: "Young man, your name is wealth!" Because it is obvious from the compound interest formula that time is money and youth is wealth.

The compound interest chart gives us a clear financial career plan: when we are young, we should focus on increasing revenue and reducing expenditure, and start investing, because the money saved when we are young will contribute greatly to our wealth in old age. In fact, waiting until you are old and have some funds in hand to start financial management will be too late due to lack of time.

The correct concept is: investment is the job of young people, and the job of old age is how to make good use of wealth. However, many young people tend to only focus on the immediate enjoyment of life. As soon as they have money, they buy a sports car, a high-end stereo or travel abroad. They always think that they can have fun when they are young and worry about financial management when they are old.

If you already understand the role that time plays in financial management activities, it is not difficult to understand that such people are destined to live a mediocre life. In real society, there are countless examples of people who focus on enjoyment when they are young, leading to poverty in old age.

The key is that you ignore the importance of starting financial management when you are young. By the time you become more aware of it as you grow older, you will not only get twice the result with half the effort, but it will also be too late. 3. How should I learn to manage money?

Things 94: Make plans in advance. When I was young and watching TV series, I always envied those girls who didn’t have to think about money issues, and fantasized about whether life would be so easy in the future. Comfortable.

When I put on a wedding dress to marry you and transform from a person to a family, financial management becomes urgent and realistic. It would be a good idea to budget our income, so you and I discussed the details of the plan together.

Then comes the pain, we have to spend money according to the plan. Do you know how it feels when you see something you like that you can’t buy because it’s not in your plan? Fortunately I persevered.

So we had our first savings. After experiencing the benefits of planning in advance, discussing plans together every month became a regular activity for us.

I always keep one principle in mind, which is to ensure that every member of the family is satisfied, can cope with various unexpected expenses, and can save a certain amount to protect the future. You know, planning is not a restriction, but a purposeful use of money where it should be used.

Thing 95: Bookkeeping is not troublesome. Bookkeeping is a good habit that allows me to clearly know my expenditures. I used to be lazy and just roughly write down my daily expenses, without caring about where I spent them.

Later I found that this was of no use. When I want to save a little, I don't know which expenses can be cut.

So it starts to be a little more troublesome. Every expenditure is listed in detail, and at the end of the month, the necessary expenditures and the amount of expenditures in each aspect are calculated. Then draw a circle and mark the proportions of various aspects, and I can find many unreasonable places.

Keeping accounts is indeed very cumbersome, but once I develop a habit, I no longer find it troublesome. I at least know which things I want to buy that I must buy and which ones I can give up.

Thing 96: Coping with Unexpected Expenses Accidents in life are unavoidable: temporary unemployment; sudden illness; colleagues getting married; old people actually want to eat ribs. These situations are absolutely unexpected when making plans. . Many financial experts have warned young families to save at least three months' worth of income if they have to deal with an emergency.

The advice given to us by financial experts is: despite rising prices, as long as you save one-tenth of your income every month, it will be enough to deal with various accidents, and you will be financially comfortable within a few years. . Happiness may come from illusions, but happiness can only come from reality.

Only by coping with unexpected expenses can you prove that your family does not have money problems. A wife who is not troubled by financial problems is a happy one.

No. 97: Buy an insurance policy for your husband. “Others say that I am very rich and have a lot of wealth. In fact, the real wealth that belongs to me is to buy enough life insurance for myself and my relatives.

" said Hong Kong tycoon Li Ka-shing. "If I can do it, I will definitely write the word "insurance" on the door of every household and in the handbook of every civil servant, because I firmly believe that through insurance, every family can avoid catastrophe by paying a negligible price. ”

Churchill said. Nowadays, I believe I understand the role of insurance very well, but the problem is who in the family should buy insurance.

Many families are buying insurance for their children. In fact, you should buy insurance for your husband first, and then buy insurance for others if you have enough money. Because the husband is the breadwinner of the family.

No. 98 Start saving for education as early as possible. A public opinion survey conducted by the media found that the average monthly living expenses of the people of the Republic of Korea is 1.67 million won, of which the average amount used for children’s education expenses is 605,000 won, accounting for 36.

2. Respondents whose children are in middle school answered that their children’s education expenses accounted for an average of 42% of their average monthly living expenses.

7. Many parents say that more than half of the money they earn in their lifetime is spent on their children's education.

Who wants their children to be unable to attend a good school because of money problems? The employment rate of fresh graduates from Korean universities is less than half. In order to allow their children to seize the commanding heights as early as possible and become top academics so that they can enter prestigious schools and go to the United States and gain a foothold in the fierce social competition in the future, parents spend millions of won to purchase suitable teaching materials for their children who are still in preschool. Send them to various cram schools.

Where did this money come from? As parents who are responsible for their children, they must start saving for education as early as possible. I would rather not buy beautiful clothes, but also want my children to have no worries, so that you will not blame yourself for not being able to give your children a good educational environment.

No. 99: Negotiate when buying expensive items. Jiang Junhao and his wife have been married for three years, but they are about to get divorced. The reason is simple.

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For example, once I just handed her the money, and when I discussed with her the next day to take out some, she actually said that she had spent it, and asked me if I didn’t see anything extra at home? I'm not against her spending money, but she should at least let me know. How to spend the money she earns is a big deal, but she didn't discuss it with me. What position did she put me in?" , the husband has the right to know where his money has gone and what contribution he has made to the family.

For men, money, in addition to providing a stable and prosperous life, is also a symbol of power. Spending money on your wife is a matter of course.

However, when purchasing more expensive items, most husbands hope that their wives will discuss it with him in advance and respect his opinions. Thing 100: Restrain shopping impulses. After returning from shopping, I check the items I purchased. I often find that many items were bought impulsively just because they were on sale and are not used in life at all.

There are also many products that I liked so much at the time that I regretted buying them after I bought them. More than 90 years ago, the German psychiatrist Kraepelin regarded "excessive shopping" as a disease, which means "price mania" in Latin. Black, a psychology expert at the University of Adelaide in Australia, explained that shopping causes Some women feel excited, and shopping causes the brain to secrete serotonin, which makes people feel happy.

Yes, I admit that shopping makes me happy, but it seriously disrupts family spending plans. What I have to do is resist the urge.

Before going out, write down the things you must buy on a small note and take it with you. Every time you are attracted to other items, tell yourself "Buy useful things first, then." 4. I want to learn to manage money

Six habits to develop in financial management

Habit 1: Record your financial situation. If you can measure it, you can understand it, and if you can understand it, you can change it. Without continuous, organized, and accurate records, it is impossible to realize your financial plan. Therefore, record it in detail at the beginning of your financial plan. It is very necessary to know your own income and expenses. A good record can enable you to:

1. Measure your economic status - this is the basis for formulating a reasonable financial plan.

2. Effectively change the current financial management behavior

3. Measure the progress made towards the goal.

In particular, keep financial records. You must also create a profile so you know your income, net worth, expenses, and liabilities

Habit 2: Clarify your values ??and financial goals

Understand your values. , you can establish economic goals and make them clear, clear, real, and feasible. Without clear goals and directions, you will not be able to make a correct budget; without enough reasons to restrain yourself, you will not be able to achieve what you want. Desired goals in 2, 20 or even 40 years

Habit 3: Determine Net Worth

Calculating net worth is easy once the financial records are in place. ——This is how most financial experts calculate wealth. Why do you need to calculate your net worth? Because only by knowing your net worth every year can you know how far you are moving towards your goals.

Habit. Four: Understand income and expenses.

Few people know how their money is spent, or even how much income they have. Without this basic information, it is difficult to make a budget and plan accordingly. If you don't know where to spend your money, you won't be able to make reasonable changes in spending.

Habit 5: Make a budget and implement it accordingly. p> Wealth does not refer to how much you earn, but how much you still have.

It sounds like making a budget is not only boring, cumbersome, but also seems too contrived, but through budgeting, you can find where large sums of money go in the bits and pieces of daily expenses. Moreover, a specific budget is very beneficial to us in achieving our financial goals.

Habit 6: Cut expenses.

Many people complain when they first start out that they cannot afford to invest more money to achieve their financial goals. In fact, the goal is not achieved by relying on large investments. Cut expenses and save every dollar, because even a small amount of investment may bring a lot of wealth. For example, if you save an extra 100 yuan every month, what will be the result? If you start investing when you are 24 years old and can get an annual profit of 10%, you will have 20,000 yuan when you are 34 years old. The longer the investment period, the more obvious the effect of compound interest. Over time, the profits from savings and investments become even more apparent. So the earlier you start and the more you save, the more your profits will grow exponentially.

The above six habits can help us start our own financial life. A good start is half the battle.