How to cultivate good financial habits

Now our financial management consciousness is more and more strong ,many people think that don’t put the eggs in one basket, so even if the financial crisis will not cause all the losses.But Buffett says :Investors should be like Mark Twain suggested put all the eggs in one basket and watch the basket carefully.

On the face of it, Mr.Buffett’s gambit looks both unwise and uncharacteristic.Actually both sides are not wrong,because the real trick to managing your money is not what you –it’s how you do it.

  1. Keeping track of your expenses

Keeping track of your expense, and being aware of where your money is going, helps you feel more in control of your financial situation.With ongoing financial records will be able to own financial planning.

2 .Clear values and economic goals

Understand their own values, economic goals can be established, to make it clear, true,and is feasible, with reasonable constraint to ensure that you can achieve a long-term financial plan.

3. Understand the income and expenses

Most of the college students did not have their income, but they all have a certain amount of pocket money.For parent to pocket money also should make a reasonable planning.Such as make a list of the benefits and costs to avoid unnecessary waste .

4.Cutting down expenses

For college students who have no income , cutting down expenses is a very important part of finance. Every day should make for yourself a minimum cost plan and try to do it, if you can reduce some unnecessary spending every month you can get more end of this year.

We should build a view let financial management as a habit.In the case of no income we should to learn how to save , when you have income you should to know how to invest.Reasonable finance is a long-term plan it needs everyone start doing it bit by bit .

 

 

 

1 thought on “How to cultivate good financial habits

  1. It is really useful for me.As a international student,I do not have income now.However,I think we should know how to manage my expenses in order to I can build a positive consumption view and a good consumption habit.

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