In this article, I will teach you about money management for students, employees, and self-employed persons—a money problem in day to day in our life.
First, we talk to her about student money management from pocket money.
Students: - I have to see some students' expenses very high in day-to-day life, but pocket money is low. So some students thinking about How to increase our pocket money? So students don't worry. I am talking to you here about money management.
If your pocket money is 5000/- per month, please don't spend all of your money. Suppose you get your pocket money at the starting of the month. You only spend 50% of your pocket money because you have 100% of your pocket money to spend earlier on all your expenses. And you have a balance of 50% of your pocket money so you will invest your money like STOCK MARKET, SMALL BUSINESSES, SAVES IN BANK ETC. Because your money invests in the stock market so will get more return on your investment, but your money is not 100% safe in the short term, but your money is growing in the long term. But you save in bank your money is 100% safe but low amounts of return in the long term. So please, the student, don't spend 100% of your pocket money on your nonsense expenses like smoking, drinking, etc. Please save your money and use good techniques and generate emergency funds.
Now, we talk here about employee money management.
Employees: - I have to look at some company employees who are not happy because expenses are high, but the salary is low. The employee faces many problems in day-to-day life like family problems, financial problems, etc. Let's talk here about employee money management.
Suppose your salary is 20,000/- per month, but your and household expenses are high, but you all manage in only 15000/-, and you save 5000/- for your external expenses. But you can increase 5000/- so yon think how it is possible? Yes, it is possible. You save 5000/- per month for external expenses .so please stop your nonsense expenses. You can invest your money 5000/- per month. Now you are thinking about where to invest your money. Your money is your money. You invest in the stock market, government bonds, generate passive income, start a small business, etc. You can earn more money from your investment, and you can generate more sources of income. All your problems are solved with money.
And we talk here about money management for a self-employed person.
Self-employed: - I have to observe some self-employed persons. This is an active income source. But the problem is the same in day-to-day life. Self-employed persons are not full businessmen and not fully employed. They have a small semi-business man. Their salary is not fixed, sometimes low and sometimes high. But this man does not make a proper decision about money.
Suppose a self-employed person earns 25,000-30,000/- per month(This is expected earning). But self-employed person some external nonsense expenses are high this problem is very critical for a self-employed person. If the self-employed person does not make a proper decision at the right time so this source of income can close. Self-employed person 90% amount of income spend on household expenses and own expenses. So his balance is 10% of his income per month. A self-employed person invests 10% of their income in the share market, government bonds, generate passive income, etc. And invest in other things at the right time to talk the right decision.
Thank you so much for reading the article.
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