Let us consume wealth properly 💸
We all do a job to meet our daily needs. But think about whether we manage the wealth earned from that job properly. Sometimes the money we earn is not enough to meet our needs. In such cases we have to borrow money from someone else or from financial institutions like banks. In fact, it's because we do not manage our wealth properly. If spending is more than income it is not so good. Because that's when you have to go into debt. The cost should be less than the income earned anyway. Only then will it be possible to make a saving from the income earned.
How many people today are helpless because of this borrowing? Some people have to spend all the money they earn to pay off their debts. We consume wealth properly to prevent such things from happening.
Step to manage wealth.
For this we need to divide and manage our income into four parts. The income we get also varies according to the job we do for each other. Some people have a daily income in rupees while some have a daily income of lakhs. However, no matter what the income, it is best to manage it well.
1️⃣ Allocation of a portion of the income earned for daily consumption.
Here we have to spend a quarter of our income on our daily needs, such as food, clothing, medicine, education and household items. But some people spend their entire income on this. Do not do that.
2️⃣ Save another portion of the proceeds.
We must save part of our earnings. It is saved for use in the event of a disaster. I will show a simple example of this in today's society. See how many people today have lost their jobs because of the corona epidemic. As the corona epidemic escalated, the government imposed a curfew. Then everyone has to stay home. Therefore people can't even go to work. So because of this, those who do daily work are very helpless as they are unable to go to work. But if a portion of the previous income had been saved, it could have been utilized in the event of such a catastrophe.
None of us can predict what will happen in the future. Therefore, it is better to keep a portion of the income earned.
3️⃣ Invest two parts of the proceeds into your industry or job.
It is better to invest half of your income for the job you do or the industry you do. It will greatly help you to move forward with the job you do as well as help you grow your industry. We who post in Steemit can also save some of the Steem and SBD we get here as Steem power.
I think my article will be useful to you.
Stay safe..
Thanks for reading my article.
I totally agree with you. For the past two months, I have been following a method which is similar to as yours's. I hope that it is very successful for me. I learned a lot form your article. This article emphasis, using your money in a methodical way.
#slbmc
I am really happy to hear your comments. Thank you.
Hi, @nishadi89,
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Hello @nishadi89 i have noticed that you have put a bttle month post. But i would tell you that the deadline of the contest was expired. You can meet with our new contest as soon as possible. However theres no need to delete this content as it was not accepted to battle month❤️🇱🇰
Ok @dulhara19.
This is an Important article for all of us who are employed under someone, who needs to depend on his/her monthly/daily salary. This pandemic teaches us how important it is to manage our income in such a proper manner as you mentioned above. If possible, we all have to have alternative options for second income.
Yes, you are right.
Hey dear what happened to your previous steemit account? There you had big balance. Hope everything is okay in your life 💕💖❤️
Yes I actually lost my previous account. An error occurred while trying to change the password.
Normally, I save a part of my income after spending it for consumption. So, most of the time there was no money to save or remain less money to save. It's just like I'm not saving any money.
This is right. First, we should devide our whole income into these parts and then we can use our income properly. It's so important spending our money for saving and investing than consuming.
#slbmc
Thanks for your feedback.
This is very important post current society and while your post reading time I remembered my father's advice.He told me every time balance my income and spending money .
Try to save and our spending part become high life will get trouble.you are proper explaining how to manage money.😍
As well as welcome back nangi😊
#slbmc
Thank you @inudi akka.
I think importance of the above fact is realized by eveyone now more than ever. I saw many people have gone to mortage their belongings while some others gathered around bars before lockdown on news and it was sad. I also thought to cut down unnecessary spendings.
It would be great if we can save a little for charity as well if it is possible.
#slbmc
Thank you.