5 things of financial health

Posted by admin on Sep 7, 2012


There are 5 things could be used to identify your financial health:

1. You know how to treat money.
Family background shaped the way you look at money-including the habit of saving, investing and using money. When your parents love to invest, then surely you will also follow their footsteps. The more you know how to treat money, the more you do not depend on money.

2. Dare to take financial risks.
It does not necessarily mean that you have the courage to invest your money in large numbers on a new business. The definition of financial risk-taking can be a smart move to invest, such as buying a house or apartment as an investment and then sell or rent it, then you would have extra income.

3. Having an investment product, savings and credit card accounts.
In addition to having a saving account and a credit card you should also have a personal investment, such as mutual funds or in other areas that you are good. Not only you would have the flexibility to use your own money, it also indicates that you are financially independent person.
 
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4. Having the collective and individual financial goals.
You should have collective financial goals as a couple, and as individual. Collective goal such as own a home and a car and pay off the mortgage in a couple of years agreed. While for your individual goal is such as buying the latest gadgets.

5. Understanding the basics of finance.
At least you have to understand the rules of the income tax, basics of medical insurance, pensions and interest rates. The more you master the financial problems, the more independent you are because you know what to do with your money.


[image taken from: mizan.com]

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