Steemit Crypto Academy | Course 7 Given By @stream4u | Money Management & Portfolio Management
Hello steemians,
It's my pleasure to be here and I'm also a newcomer in steemit platform. I find it so interesting after reading through professor @stream4u post so I decided to do his homework task 7. In this homework I will discussed about the following topics:
- Money management
- Future plan on your Money Management.
- Discussed Portfolio Management, if you have an investment and if it is okay with you then show portfolio and explore it briefly.
- Future plan on your Portfolio Management
- When was the last investment failed and Why? (those who have experienced this can provide views.)
- Conclusion
MONEY MANAGEMENT
Money management is basically the process of managing of finance and utilizing it in an efficient manner. In a nutshell money management can also be refers to as the process of saving, investing, budgeting, spending or a way overseeing finance of an individual or companies
Types of management:
Basically there seven (7) key types of money management that can help one plan his finance better and these are listed below;
- Banking and saving
- Budgeting
- Paying taxes
- Investing
- Managing debt
- Retirement planning, and
- Estate planning.
- Future plan on your Money Management.
Firstly, I will set a goal to achieve with my future money in other not to be broke afterwords because if you are not working towards any specific direction for making money, you like to see your self spending all that the money you have without getting any other money.
A lot of crypto currency platforms like steam is here to allow us make real money and be financially stable, while some are to receive you at the end of the day you loose.
- Discussed Portfolio Management, if you have an investment and if it is okay with you then show portfolio and explore it briefly.
To my own understanding, portfolio management is the way of selecting, controlling organizing projects and programmes in your own initiative in other to achieve your goals.
How I manage my portfolio is that Is that:
- I choose an account which deposit my profit because if I'm getting profit without savings, it means I'm spending more than my profit.
- I choosed the kind of investment which I investment but was careful because investment is all about taking risky to succeed. There are some investments that can sink your money. I decided to go into real estate development .
Future plan on your Portfolio Management
How I plan to use my investments are:
- I always reinvest into my business in other not to fall.
- Knowing my cash flow from the already invested business in other not to loose.
- Knowing my financial growth from the business.
When was the last investment failed and Why? (those who have experienced this can provide views.)
Well it happened to me last year may 2020 when I was in troduced to crypto currency (Bitcoin). At first I thought that it was something that one will investment today and have a good turnover in one week time, i never new that it wasn't like that untill I lost 70% of my investment. This failure occurred when I investment about fifty thousand naira of my money because of the high rate of Bitcoin then, it keep on increasing but I did not sale it off because I wasn't in need of money then. after a while I decided to sell it off, but the price now came down that I don't have any other option than to sell off.
Conclusion
I'm so grateful to professor @stream4u and to all the steemians who takes they time in reading this homework.
Thank you.....
Best regards;
C:-
@steemcurator01
@steemcurator02
@steemcurator03
@steemitblog
@stream4u
Hi @city4sure
Thank you for joining Steemit Crypto Academy and participated in the Homework Task 7.
Your Homework task 7 verification has been done by @Stream4u, hope you have enjoyed and learned something new in the 7th course.
Thank You.
@stream4u
Crypto Professors : Steemit Crypto Academy