User:ChandaRackley

Personal finance management is not a thing which is taught in schools and colleges. It is something which depends upon your wisdom and financial goals. If you are focused in life and clear about everything, then managing personal finances is not a tough job to perform. There's no hard and fast rule that you need to save heavily in order to acquire more funds in the bank account.youtube.com Even small savings can fetch you decent amount. For stability in financial status, Marketing you need to do a little bit of homework and plan your financial expenses.youtube.com Without restricting yourself for expenses and other things, your financial planning is worthless. Here, I have provided some of the useful tips required for personal finance management. Try to maintain a record of your monthly expenses. This thing does not ask for restricting yourself for making expenses. It is just an attempt to get an idea regarding how much you spend in the duration of 30 days. Keep all your receipts alive and try to figure out what are your needs and how much you saved. This is an effective measure to keep an eye on expenses. In the record of expenses, don't mention the things on which you deliberately spend the money. If you have really wished for a thing, it's actually not your major payroll. You can count it as an additional monthly expense and keep it aside. Make a record of expenses which are genuine and occur every month like rent, groceries, savings, household bills and much more. Once you have jot down all your expenses, it's time to distinguish the actual budget and projected budget. By doing this, you can acquire effective personal finance management. Projected budget is the budget which you have thought for the whole month. This budget should be same for all the months. Actual budget is the budget which you acquire after spending the whole month. This can be fluctuating and therefore, you'll not find actual budget same for the progressive months. In this way, you can make out where to spend and where to get restricted while making expenses. While preparing the budget, your honesty counts a lot. If you are not true to yourself, how can you project for stable finances? An honest record of expenses will aid you to manage everything in detail. Personal finance management is your initiative and you are the volunteer. No financial advisor can make you understand the things you can do to minimize your expenses. You are the only one who can manage your savings and expenses by keeping all the aspects in mind. For effective results, you need to follow the above tips. There's no rocket science involved in personal finance management. Simple and basic strategies are required to maintain your own financial records. So, that's all regarding the management of personal finances. Have an attentive reading for better results. A wealth ethic means that the object of making money is in agreement with its means. To gain wealth through lies or unethical methods is to disobey God and brings damnation upon oneself. Christians have understood the right way to become wealthy and in the process have become men and women of character and noble thinking. From this point of view, the market-oriented economy is most effective when it is combined with market ethics, just like good horses with good saddles. From a human perspective, the most successful business model in the market-oriented economy is one combined with church. The largest and sweetest fruit becomes the end product only when we do business in the market-oriented economy in an honest manner and not at the expense of others. The other big difference between a market-oriented economy with church and one without is that the former abides by a set of common rules. Those who share the same faith have a tendency to trust each other. I found a paper which illustrates this on religion and economics in NBER which had done many case studies in over 100 countries. One discovery made was that in the religious countries the unwritten rules were much more common than in the non-religious countries. Law is the strongest support that churches offer behind the market rules. The fact that the market-oriented economy with church is more open has been proven by that NBER paper. The reason is that under God, the core spirit of equality and great love bring people openness, forgiveness and respect. Whether there is a church or not can influence the outcome of history. Before the beginning Word, all we need to do is to choose. For example, to choose to believe in God is one response, but to choose not to believe in God is another response. To choose to believe in God and follow him enthusiastically is one response, and to choose to believe in God but not to follow him is the other response. How one views the development of life, the world, country and business affects many things. There is a story to explain what we have discussed above, told by one of my business friends. During World War II, Japanese fighter pilots were able to fly their planes higher, faster and better than the American ones, but the Japanese were still beaten by the Americans. Of course, there are many reasons for this, but one important reason is often overlooked. Americans valued life more than the Japanese. The Japanese Air Force believed in "bushido" (the warrior spirit) where pilots would sacrifice their lives for their country. The Americans, under a Judeo-Christian influence, felt that life was very valuable and fragile. As the first-string Japanese pilots continued to die for the honor of the emperor of Japan, the American forces used their best pilots as instructors. While the Japanese focused on flight speed and height and encouraged pilots to fight to the death, the Americans spent large amounts of money to build heavy, slow but thick planes so that those planes could protect the pilots’ lives. As a result, the American pilots kept their lives, but the Japanese pilots were gradually defeated, allowing the Americans to win the war. Another important impact widens the balance between the rich and poor. Max says it is more difficult for a rich man to enter heaven than for an elephant to go through the eye of a needle.youtube.com Those who show off their wealth use their money improperly and that is not pleasing to God. For a sincere rich Christian, it is another case. His faith tells him that gaining wealth should only be for God’s glory. He is accountable to God and must use the money wisely. Remaining humble is what earns God’s praises. Therefore, in the U.S., we see wealthy people who have donated ten percent of their property to the church and have shared their money with other believers. We see those who are at the top of the wealth list and are also at the top of the donation list. The relationship between the poor and the rich is not incompatible. Looking back, there was an old Chinese man who swung his hand and said China allowed a few people to gain wealth first. However, how did those few people use their money? First, they renovated their ancestors’ tombs, which was a typical event in the 1980s. Secondly, they entered into sexual relationships with other women which is still happening today.youtube.com Thirdly, some of them built homes the size of the White House. Fourthly, we see some of this nouveau riche traveling all over the world with their money. However, we know God is not pleased by any of these ungodly behaviors. Without God’s restraint, all these phenomena would occur quite often. Such indulgence and lust inevitably cause others’ wrath and God’s punishment. What should we do about it? In my opinion, we all need to spend our time reading the Bible. From Boston to Indiana, wandering throughout the grand land of North America, listening to the profound ringing of church bells, I could not help thinking of an old poem written by a passionate poet many years ago. Only with a fearful heart, can one be saved. Only with faith, can the market-oriented economy retain its soul. This author, Ph.D. is a professor of Economics at Beijing Science and Technology University. He is also Executive Director of Cypress Leadership Institute. He and his wife have two children and live in Beijing. Whether you like the idea or not, most businesses today survive primarily because of modern technology. Technology is used in business for keeping records, receiving payments, paying workers, and a lot more. Even small businesses today rely on technology to further advance their cause. If there is one challenge regarding technology in business, it is in the area of upgrading and maintenance, because it requires not only a budget but also a lot of patience in your part as the owner. Not all people can easily go with the flow of high-end computers and complicated office machines. If you are one of those people, it is important that you list down all high tech equipments and machines you have in your office and learn how to operate each one of them. Familiarize yourself with computer software and programs as well, especially those that are used for database. Organizing a technical support team is a good idea. Look for an IT expert to lead the team in making sure that every office equipment is working at full potential and that the system has zero loopholes as possible. When assigning a person to lead your tech support team, consider not only his skills and knowledge concerning business technology but also the quality of his experience as an IT expert. Set aside a time each week and each month to have your system checked by your tech support team or by yourself. Have someone write a report regarding the check up to be submitted to you for evaluation. The feedback should contain information regarding the status of the system and if a software or hardware needs to be upgraded or not. Moreover, encourage your workers to report glitches as soon as possible. Finally and most importantly, create a budget for the maintenance of your business technology. Avoid the mistake of waiting for equipment and system problems to become serious before deciding to spend money for repair. The best thing to do is to dedicate a certain amount of money for maintenance and repair beforehand. Doing this will help you prevent major setbacks and help you save money in the longer run. Key in the word "debt" on Google images and you will find pictures and illustrations that portrays debt as a burden or a person chained and bound to debt. From the ayat above, it seems that it has been that way for a long time. With debt, there lies difficulty. I assume that there are probably market research that looks into this, through word affiliation and digging into changing the negative image that clings to the word "debt". How can someone sell debt and make it attractive? By making whatever is affiliated with debt, into the opposite. Without going too far off from the topic of step 9, you can read more of my thoughts on debt at Islamic Personal Finance Facebook like page. So back to the topic, step 9 toward financial wellness, we must be able to answer the question if our current debt is too much. However, it doesn't help us answer the question since the debt test are questions to find out if we have a problem with debt. A good place to start on answering the question of having just the right amount of debt, is with ratios using debt as a variable.youtube.com The only one I will be discussing is the debt-to-net worth ratio, since we've just recently went through net worth. Debt-to-net worth is the sum of your debt divided by your net worth. The number will tell you that for every dollar of your net worth, it is financed by a certain amount of debt. So, for every dollar of net worth, you have a certain amount of debt. Keep in mind that if we are a CFO, we'd like to push our net worth as high as possible within the limits of our income.youtube.com It means that mathematically, we should have only cents of debt to a dollar of net worth. You can download an Excel or Libre file, updated from last week's topics of net worth. Investopedia have a video to easily understand debt-to-net worth ratio (equity for companies, similar yet different). Marketing plays a very important role in transforming a business into a successful brand. The requirement of Digital Marketing has seen a significant rise in recent years.youtube.com More and more business houses are selecting it for an extensive customer reach. The market is flooded with several firms offering digital marketing services, but all of them are unable to fulfill your requirements and expectations. Therefore, selecting the right Digital Marketing Company is very important for you and your business' growth. Before you hire a firm to market your business digitally, conduct an in-depth research with the support of the Internet and the people who have recently hire such a firm. Your conducted research will support you in getting familiarity with the terms and practices of Digital Marketing.