This is the first post after my introduction post, and I decided to check through different communities and I saw leofinance community. This is the first community I will be being a part of and I hope to be part of many other communities. After my first experience with Hive where a person decided to steal my identity to steal from the reward pool, I decided to call for help and I got help from the community. Anyways, I work in the health sector and I love health, but then seeing that the community is finance related, I decided to give it a try. I don't see the niche as a limitation since we are all finance inclined in one way or the other. We all in one way or another have something financial to discuss even when we are not bankers, stockbrokers, financial advisers, or hedge fund traders. You see, our daily life has to do with finance, starting with how we spend money, how we plan our financial life, and how we intend to grow our finance. Let me quickly share with you something that a mentor of mine taught me.
I went to visit my mentor some time back to explain that I was having some financial issues and I haven't been able to improve my financial life, then he sat me down and discussed some things with me. He said to me that the reason why I am having financial loopholes is attributed to my spending plan.
He stated that the only way I can grow in finance is if I properly manage my financial resources. He made me understand that wasting the little that I had was equally going to make me financially broke. While in his place, I understood the importance of a pen and paper. I thought that those were useful in school and at my workplace, but I didn't know that the pen was very useful in my finance. He asked me if I documented how I earn, what I earn, and how I spend it, and the answer I gave proved that my finance was surely going to lack. He explained that it is important to have a proper strategy rather than have a mediocre mindset on money. These words of his made me understand that I needed to plan my future so I can have control of my financial future. He was able to explain how planning and opportunities work hand in hand. He was able to explain to me that one is better prepared with financial plans than without plans.
Financial planning helps to reach financial saving goals and reach financial expectations. He made an illustration of budgeting after spending which is very wrong. If you wonder how to budget after spending, let me explain. Some people spend money before they begin to write out what they spent the money on instead of writing what they want to use the money for before it arrives. He made me understand that if I want to be sure about the importance of a financial plan, I should write down my income and expenses for a month, and I would understand how my finance has been leaky.
The inability to keep records shows why a lot of people are struggling with their finance. Over time, I have been able to plan my finance, I have been able to divide my finance into income, and expenses. The income is divided into active income, salaries, passive incomes (shares, crypto Defi savings, Reits, and so on), and Gifts. While the expenses I classify into Taxes, Savings, Car expenses (insurance, fuelling, servicing, and maintenance, e.t.c...), Mortgage, Insurance, Child care, tuition, Debts, Medical, Clothing, Feeding, Pets, Entertainment, and Recreation. I am certain that if you try this financial advice from my mentor, then you are on your way to a financially successful life.
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Cool!
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Thanks a lot
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I liked your article, I would like you to write some tips on how to improve financial management starting at home....
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I will do just that my friend. Thanks a lot for taking time to read through my post, I am glad you did my friend.
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Hello
We already met on your first blog and you have our first or even more blogs out to read for other hivers. We featured you already on the @heyhaveyamet blog and today on the #heyhaveyaread blog. I made that blog and hope you will like the chance within. I wish you a great weekend and do blog on.
hola
Ya nos conocimos en tu primer blog y tienes nuestro primer o incluso más blogs para leer para otros hivers. Ya te presentamos en el blog @heyhaveyamet y hoy en el blog #heyhaveyaread. Hice ese blog y espero que les guste la oportunidad dentro. Les deseo un gran fin de semana y hacer blog en!
Britt
Thanks a lot for this opportunity, I am glad to be featured on your blog, and I will be reading it now. Thanks for the comment, and the feature.