A person's financial resources are not unlimited. All current goals should be divided into primary and secondary. Each person sets priorities independently depending on age and circumstances. In addition, all goals should be divided into the following categories:
Basic. They make life better and help avoid material problems. For example, a safety cushion, investments, a pension supplement (passive income), etc.
Important. They have a strong impact on the standard of living, but their implementation requires less expenditure. In particular, payment for education, a deposit for the future of a child, etc.
Others. These goals can be postponed for a while. This includes buying a new phone or jewelry, going on vacation abroad, etc.
To formulate a goal correctly and briefly, it is convenient to use armenia mobile database the SMART method . This approach allows you to find out whether the goal has been chosen correctly and whether it is realistic to implement it. A correctly formulated goal meets the following criteria:
Specific (concreteness) . You need to clearly define your desire – for example, to buy a car.
Measurable (measurability) . It is necessary to calculate how much money will be needed to buy a car of the brand you like.
Achievable (achievability) . It is important to understand how realistic it is to buy a car right now. The goal is achievable if there is a good stable income, and the bank is highly likely to approve a car loan.
Relevant (importance) . You will have to answer the question: "How necessary is this at the moment?" Buying a car is the best option, for example, if the public transport network in the locality is poorly developed.
Time Bound (time limit) . You need to set a time frame for finding a suitable car and applying for a loan. For example, you have a long business trip in a month.
If the goal meets the requirements listed above, you can begin to implement it.
It has been proven time and again: money loves silence. This is another fundamental rule of financial security. It is not at all necessary to let others know about your financial issues. As practice shows, you should not even let friends and relatives into your wallet - this is often fraught with unpleasant consequences, including the breakdown of friendship or family ties.
And excessive frankness can also lead to big problems with financial security - scammers are not asleep. Every now and then, crime chronicles tell about the discovery of new ways to get money dishonestly.
Don't put all your eggs in one basket
It would seem to be an obvious rule. But for some reason many people neglect it and risk their financial security. In order to preserve and increase existing assets, you need to use different tools. For example, it is a very reckless decision to keep all savings on deposit at a low interest rate when they can be profitably invested in securities, real estate, gold, etc. Diversification allows you to protect your capital from unforeseen circumstances.