After I posted 'My Best Investment' article, I received numbers of email asking me whether I can share with them how do I manage my personal finances.
Today I'm going to share with you tips on how you can manage your finances successfully.
Here's how:
First of all, It is very important for you to know where all your money goes to.
Most people usually never keep track of their income and expenses.
I created a few accounts (these accounts may or may not be real savings accounts in the bank) where my income goes to.
For me, I have: Necessity Account, Business Development Account, Financial Freedom Account, Education Account, Fun Account & Giving Account.
Every time I earn my income, it goes to these accounts with the following proportion:
- Necessity Account (30%)
- Business Development Account (30%)
- Income Generator Account (20%)
- Education Account (5%)
- Fun Account (5%)
- Giving Account (10%)
I'll share with you in more details about each of these accounts in my future blog entries. :)
Love,
Merry Riana
http://www.merryriana.com.sg/
www.facebook.com/merry.riana
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Hi Merry, did you get the percentage from a seminar? my friend once shared with me this; which was similar to wat you write.
ReplyDeleteHi, this way of managing your money is very common. In fact you can find it in many books or seminars about personal finance. And it is something that I shared also when I give seminars or when someone asked me.
ReplyDeleteThe key here is to adjust the accounts and the percentage to your own personal circumstances. The one that I shared is adjusted to my current situation right now.