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Opinion: Financial Advice for Everyone

Finance is the most determing factor for your life success. As the economy gets tough, it is felt my every individual whether rich or poor. It is therefore, important to learn how to handle your income with utmost careful spending. Here are what you must learn.

1. Live within your means.

The first thing to feel you are financially stable, is living within what you can afford. Whatever your income might be, budget wisely to ensure you don't go beyond what you earn. Make a list of preference so that the most important or basics are dealt with first.

2. Identify financial leakages in your life.

Sit down and identify areas that mostly wastes you Money and seal the loopholes. This is a sure way to know how to prioritize when budgeting.

3. Always have a shopping list.

Do not enter into a market place or supermarket aimlessly without knowing what to purchase. Before leaving home, know what is needed for shopping and make a list of those items. Go to the shelves where those items are and pick them, pay and go home. This will save you from impulse buying. Going for shopping without a list, you will end up buying items which are not necessary.

4. Save certain percentage of your income.

Do not be such a person who after payday, spends all the income without saving. Decide a certain percentage that goes into savings account. Those money will help you when you most require them especially for emergencies.

5. Avoid debts as much as possible.

Be financially discipline and avoid borrowing money especially when you don't seriously need them. There are online loans such as fuliza, Tala among others and now husler fund with has lured people into debts which may end up finding it difficult to pay back.

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Content created and supplied by: #Philosopher (via Opera News )

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