Personal income is the sum of money received by an individual. In addition, personal income may include other sources: wages, dividends, retirement benefits, commissions, bonuses in cash, payment for certain types of work, gifts in cash, social and other payments.
For most people, it is important to be able to manage personal income. With the help of such a useful habit, you can control your savings, the flow of funds. Personal income definition for each person has an individual. Try it and you will begin to control your cash flows today! And you will immediately see how much you can save, and what this important habit will bring to you in the end.
Many can save money, but not everyone knows how to invest and multiply them correctly and competently. According to statistics, personal income by 25% is wasted. Many will probably think that they already deny themselves in many ways, but this is not so.
Personal income is, first of all, discipline and control over the funds coming and going. It is very important to learn how to maintain a family budget, and it is best to start by buying a notebook or notebook to record all income and expenses.
Savings can be of various kinds. Household and personal savings are presented as the difference between personal disposable income and expenses. The latter can be conditionally divided into mandatory and optional. Mandatory expenses of the family budget: for clothing, food, personal hygiene items, utility bills, renting an apartment (for those who have to rent an apartment). This amount does not change from month to month. Therefore, this type of expenses must be included in the family budget.
The most important habit that a person should have is preparing a shopping plan before going to the store. The list must be prepared in advance, everything needs to be carefully thought out and “weighed”.
Tip one: creating a family foundation. For example, funds planned for personal income and household expenses are best kept with those that you plan to spend on entertainment.
Tip two: you should always buy things and products on time. And it does not depend at all on what your personal income is, it is just the ability to correctly spend money. There is a very important saying: "The poor buy things in season, and the rich buy during discounts." Therefore, if you want financial independence, it is best to follow the habits of rich people. The cost of things that are sold in season can be 50-80% more expensive than off-season. Discounted items can be bought at online stores or ordered from catalogs. As for food, those products that have a long shelf life, it is better to purchase in bulk or in advance. So you can save up to 30% of the money that you plan to spend on food.
Tip three: try not to go beyond your shopping list. You need to buy only everything you need and need. Most of us already in the store recall that you need to buy both. However, if you have not included this in your list, you can do without it. The main thing is to control the situation, not to be her hostage.
Tip four: contact your family and friends for advice. Before important purchases, it is best to ask your relatives or acquaintances who are better versed in this area. They will surely give you a couple of valuable recommendations and tips. So you can buy goods at a lower cost and faster.
Tip five: increase sources of personal income, as well as personal income, that is, look for new ways to earn money.
Try to start making a family budget today and control personal finances, and you will understand how pleasant it is not to wait for the next salary in order to afford something. Experiment and control your personal income, it is not difficult, then you will see how 10-30% can turn into amounts that can be invested.