| Money is what "makes the world go round." And one | | | | investments, and high risk investments. |
| of the most difficult propositions in life is to manage | | | | 5. Make wise decisions when buying a home, office, |
| money. | | | | and more. Avail a mortgage that works for you. |
| While some are born with great financial acumen | | | | Property can be a good investment when bought |
| others need to be methodical and follow sound | | | | after deep thought and in allocation where the |
| advice. | | | | appreciation is high. |
| Here are a few basic tips: | | | | 6. Teach every family member how to invest and |
| 1. Inculcate frugality within you; desist temptation to | | | | the secret of handling money wisely. Even children |
| spend now save later. Every dollar earned must be | | | | need to learn from a young age. |
| divided into four parts: one part to meet essential | | | | 7. Insure your interests. Take enough insurance but |
| expenses; one part to be invested in short-term | | | | learn the art of saving on premiums, clubbing policies, |
| savings; one part for retirement savings; and one | | | | and umbrella policies. Know how to save money |
| part for emergency expenses. | | | | every step. |
| 2. Create with expert advice an infallible financial plan. | | | | 8. Spend prudently. Plan your luxuries and eating out. |
| Plan your credit report, taxes, and expenses. Keep a | | | | Learn how to shop sensibly and not indulge. |
| watch and learn how to regulate yourself. | | | | 9. Avoid lending money or borrowing money. Financial |
| 3. Avoid the debt trap set by credit card companies | | | | matters are best handled alone and not through |
| and the easy availability of loans. Only spend what | | | | family or friends. |
| you have in hand and not any monies in advance. | | | | 10. Review your financial plan regularly and make the |
| 4. Learn the art of investment. The World Wide Web | | | | necessary adjustments. As a family grows needs |
| is a reliable resource for information, reviews, and | | | | change. Begin saving for college and education from |
| guidelines on investments. If doubtful seek expert | | | | the early years. Teach the children never to take you |
| advice on investments; the ideal is to balance | | | | for granted. Discuss things with your family members. |
| investments into sure-fire investments, medium risk | | | | |