Who understands personal financial management better than Tio Scrooge? The classic character in comics is even known as a miser, since he takes care of every penny with great affection. But financial management is not just about managing money.
This is a personal skill that, if well developed, can make you earn more and spend less, putting your flow in a wealth trend. This is just one of the personal financial management tips we take from the “biography” of the richest duck in the world. We will still show you many other tips in this article, which draws the wisdom of a pop icon of wealth. And if you need help with any question, you can leave your comment at the bottom of the page. You can Make money online tutorial now.
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What is Personal Financial Management?
Discover the concept and how personal financial management works.
Personal financial management is a set of techniques and strategies that shape the way you earn, save and invest money.
It is usually done with some clear objective that can be:
- Have an emergency fund
- Retire early
- Build a legacy
- Buy some item
- Work less
- Being rich like Scrooge Uncle.
There are countless financial goals that you can have. They can be linked to your life project for the future (like having an average monthly income of at least R $ 1,000) or just personal achievements, like having your first car or being financially independent. For all purposes, you will need personal financial planning.
The Map Options
This will be your map where you analyze all the paths and decide which will be the path to your financial success. In your financial planning, you will define how much you need to earn, how much you must save and how much you need to invest to reach your goal in a predetermined period of time.
Don’t you have that yet? Are your dreams just dreams? So it’s time to turn them into practical goals and fight for it. The tips we will see next are not the financial planning of Tio Scrooge , but much better than that: they are the wisdom of the financial manager Tio Scrooge and show how he transformed this wisdom into a quadrillion dollars. If you want to learn more about financial planning, read this other full article on our blog.
Why it is important to manage personal finances
One of the great challenges for a person who considers himself “independent” is the administration of personal finances. To stop relying on parents’ collaboration and to rely on their own resources requires planning, dedication and strategy.