Why You Need To Manage Your Finances
Finances are referred to your money and everything about it, like your money activity, your expenses, your investments, your payments, your credits, debits, savings and so on. It’s one of those things that you can call as “adulting” in today’s terms. If you’re an adult, part of being free from your strict parents and being able to live independently and managing your finances, most especially if you have a family of your own.
Finances are a must and yet not all people seem to understand that its a necessity that should be balanced with spending. Many people are driven to poverty, some people just spend without even some big investments, some are full of debt and some hasn’t really fully understood the gravity of the situation if you’re not able to handle your finances properly. Pablo Escobar was one of the Richest men in the world during the 80s and 90s in Columbia, he earns millions every week and still, in the end, he died with nothing. Sure you can say that the police was at fault in cracking him, but the fact is, he wasn’t the businessman in his empire, it was his cousin and when his cousin died, no one has really replaced him, even Pablo.
The facts: The fact is, not all will become rich in their lifetime, but anyone can be financially free as long as they are able to manage their finances. Managing your finances isn’t easy and it can easily be crowded by various things, like various products and services that will sway you from ever saving. There will always be something that will try to sway you from saving up or making good investments and when that time comes, you need to realize the things that you need vs the want and the measures that you need to take in order to rectify your situation.
Fact check: The first thing in realizing your financial freedom, is realizing where you are right now as far as your financial standing is concerned. Khow much have you saved, what are your investments and are you actually thinking about the long term effects of financial troubles and financial success? You need to realize and accept your situation so that you will know the appropriate action that you need to do in order to sort it out. Make some sense on what you currently have and start making plans to make it better. You can’t earn forever, there will come a time where you will have to throw in the towel and when that time comes, hopefully, your financially free.
The fact is, unless you’re in finance school, no one will tell you that being financially educated will actually serve you more in life better than any practices out there. Why? Because it will serve you even until in your later years. No matter what profession you have chosen, you have one goal and that is to live a happy life after your retirement, but the funny thing is that not all people see how they can ever achieve that, and the problem is mostly because they are bad at managing their finances while they are still in their prime. If you’re one of them, do yourself a favor and get financial advice today.