Financial Issues in Daily Life of a Common Man..!!
Hi Guys,
Welcome back to my blog. Today's blog is about some Financial issue in your daily life
Starting with Credit Cards, Don't check your credit score very often. Actually, there is no reason for you to check it unless you actually want to buy something big for which, you are considering taking loan for. So, just control your nerves and stay calm. Earn more and pay off your bills on time.
Coming from a country where people don't have credit cards and even if they have it, they are afraid to use it. Because, it adds up one extra stress to pay bills as we didn't have time to pay bills, so easily as in western culture. Apparently, people still think that it is the same and Bank Staff might indulge them into a good conversation and lure them towards making one which can cause stress.
That's the reason, this guy is smiling so hard.
Actually, He is the CEO of company called - "Mastercard"..... I know its a good one right...!!!
I will say it's smarter to use the new technology but with knowing all of its advantages and disadvantages. So that no one can lure you into something which won't be good for you.
Like, Don't have too many credit cards. Have more than one in a sense that, one of my smart friend has one bank credit card and other one is a Third Party credit card as it is said to be more beneficial for your credit score if you pay bills for that card on time, It will give you better credit history. But this is what my friend did, I am not suggesting you to do the same. But I am suggesting you to be a smart person and know everything you are doing.
Now, it comes to your Income and Expenses.
Always know what are you earning and how much you are spending in different categories like for groceries, Outside Food, parties, Gas, Electricity, Phone Bills and Streaming Subscriptions like Netflix, Amazon Prime, etc. When I started my life, living in sharing apartment, I was totally confused about my life like where to start, what to make, whether to eat outside or to eat at home, which seemed to be boring at that time.
So, For few months, I worked around 40 hrs. a week but with very bad diet and end up loosing my muscle weight. Thank God, I started to observe it after few months, otherwise, I would be in a very bad shape till now. Then, the simplest way of doing things is to start with something. This idea works very well.
How I started, I took a old notebook, I started writing all my expenses. I mean all of my credit cards transactions, debit card transactions and all cash ones too like coin operated laundry. rather than doing all month's at once, I used to write it every often like in 3 days or so. So, at the end of each month, I would categorize them as:
Total Expense
Repetitive Expense
Necessary Expense
Extra
More explanation about each of these in next Blog. I don't know when I am gonna be free for next blog but for now I am running out of time. So, sorry about this fellas.
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