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(Precious) Words of Wisdom : "Rich people have small TVs and big libraries, and poor people have small libraries and big TVs." ~ Zig Ziglar

Wish to become rich? Try these financial tenets (2 of 4)

2. Budget is like flying a kite. The purpose of the string is not to prevent the kite from flying. In fact, without the string the kite will not fly far or fly high or fly for too long.
 

Many tend to live from salary to salary, without giving serious thought to either balancing their budgets or planning their finances.

Some try to put it off for tomorrow; but the tomorrow never comes.
Some do a half-hearted attempt; it serves no real purpose.
Some start enthusiastically; but within a few months are back to square one.
Some don’t fool themselves; they never even start.


In fact, budgeting is normally considered to be nothing but trying to balance the cash inflows and outflows; prioritizing so as to fulfill as many needs and desires as possible within the constraints of a given income. This, however, is a narrow perspective about budgets.

Budgeting is lot more than that. In fact, I use the word BUDGET as an acronym for B (Beacon or guide), U (checks Unnecessary spending), D (helps manage Debt), G (promotes Goal setting), E (prepares for Emergencies) and T (Taste financial success).

Budget gives you a defined economic freedom; it is not a financial restriction. Instead of wandering aimlessly (and wasting money) you give “purposeful” direction to your money.


An Investment In Knowledge Pays The Best Interest ~ Benjamin Franklin

101 Classic Tips Money Gyaan

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Ignorance is like a SIGNED BLANK CHEQUE... anyone can MISUSE it.

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Have the 'right' perspective on your mutual fund investment.

 


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3. Don't Underestimate The Power Of Financial Literacy
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Take your lessons in financial literacy very very seriously.