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A Guide To Manage Your Credit Card Score & Finances Efficiently



A Guide To Manage Your Credit Card Score & Finances Efficiently

A Guide To Manage Your Credit Card Score & Finances Efficiently

A Guide To Manage Your Credit Card Score & Finances Efficiently

A Guide To Manage Your Credit Card Score & Finances Efficiently

Managing your finances is not easy if you are not a financial expert and you should look for expert advice from time to time in matters involving money. Not everyone is born with a sharp analytical mind, and ordinary people often find it hard to manage their finances due to inexperience and lack of knowledge. has answers to all your finance-related inquiries. They provide expert advice and valuable suggestions on everything related to personal finance. You can also get the best reviews from the industry experts on the most popular financial tools available in the market that will help you to make right decisions.

7 Important Components Of Personal Finance

When it comes to personal finance, it can have many aspects, and it requires a proper financial plan to manage each component properly to help you lead a risk-free life. Personal finance more or less revolves around the below-given elements and a brief insight into each of them will help you formulate the right strategies.

  • Income

There are many ways you can spend your money, but there are only one or a very few sources of income. So, maintaining a steady cash inflow is needed first and foremost to meet your expenses and secure your life. Prepare a list of income sources that you have, the primary source (the salary) and the secondary sources (commissions, perks, employee benefits, shares, bonds, ROI, etc.). It is advised to have a secondary source of income for everyone and not depending on a single source as the latter might back you up in case you face an unfavorable situation like a job loss.

  • Expenses

Once you are sorted out with your earnings, it is time to look into your expenses. Make a list of your day as well as additional costs and see if your income is sufficient to meet all your expenses quickly. In case the income-expense ratio is not balanced correctly it means that either you need to curtail your expenses or need to increase your income.

  • Debt

However weird it may sound, but if managed properly, debts are valuable tools that help you during financial crunches. Debts, in forms of credit cards, loans, mortgages or other varieties should be dealt with some expertise to avoid getting saddled by the debt burden. There are many ways to get rid of the load or to reduce it to a great extent. Learn about the various tools and options like debt consolidation, debt settlement and so on to remain unaffected by the debts.

  • Savings

This is the most crucial part of your personal finance, and you must make it a point to save a particular portion of your monthly income after meeting all your expenses. Your savings account will determine your credit score and your ability to get loans or credit cards. Your savings account will denote the liquid cash you have in your hand apart from other investments.

  • Taxes

You need to pay taxes, and the more you earn, the more you need to pay to the Government as income tax. There are other taxes as well (like the property tax and others) that requires careful handling and calculations. Hiring a lawyer or a CA firm will be the best option for tax management as they will suggest the best solutions for maximum tax savings.

  • Insurance

Getting insurance is a priority as you get a hefty amount of a sum assured from the insurer in case of a misfortune incident, like untimely death, illnesses, accidents or other losses. There are many plans with various benefits, so opt for the best insurance policies that cover your entire family in times of need.

  • Investments

No matter how little you earn, you must invest some amount in various investment schemes. You can invest in a property or in the stock market that will get you long-term benefits. Choosing the right investment tool is not easy, and you must seek expert advice to select the right plans suiting your profile and objective.




Praneet is the CEO and Editor of the website He is a blogger and have varoius blog on various topic and he is from India who loves to read and write about Technology, Gadgets and Gaming. If you share the similar interests then you can follow him on Facebook | Google+ | Twitter

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